QRG Capital Management Inc. Increases Stake in Pfizer Inc. $PFE

Key Points

• QRG Capital Management Inc. increased its stake in Pfizer by 8.6% during the second quarter, acquiring an additional 59,948 shares, bringing its total holdings to 759,903 shares valued at $18.42 million.
• Analysts have varying opinions on Pfizer's stock, with Morgan Stanley raising its price target to $33.00, while Citigroup set a target at $26.00, leading to an average target price of $28.41.
• Pfizer reported earnings of $0.78 EPS in its latest quarter, exceeding expectations and reflecting a 10.3% revenue increase year-over-year to $14.65 billion.

QRG Capital Management Inc. lifted its position in Pfizer Inc. (NYSE:PFE - Free Report) by 8.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 759,903 shares of the biopharmaceutical company's stock after acquiring an additional 59,948 shares during the quarter. QRG Capital Management Inc.'s holdings in Pfizer were worth $18,420,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in PFE. GKV Capital Management Co. Inc. purchased a new position in Pfizer during the 1st quarter valued at $27,000. North Capital Inc. bought a new stake in shares of Pfizer during the first quarter worth $28,000. Bayforest Capital Ltd purchased a new stake in shares of Pfizer during the first quarter valued at $28,000. Horizon Financial Services LLC bought a new position in shares of Pfizer in the first quarter worth about $35,000. Finally, WPG Advisers LLC purchased a new position in Pfizer in the 1st quarter worth about $35,000. 68.36% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on PFE shares. Morgan Stanley boosted their price objective on shares of Pfizer from $32.00 to $33.00 and gave the company an "equal weight" rating in a research report on Wednesday, August 6th. Wall Street Zen lowered Pfizer from a "buy" rating to a "hold" rating in a report on Sunday, September 28th. Weiss Ratings reissued a "hold (c-)" rating on shares of Pfizer in a research note on Saturday, September 27th. UBS Group reaffirmed a "neutral" rating and set a $28.00 target price on shares of Pfizer in a research report on Wednesday. Finally, Citigroup increased their price target on Pfizer from $25.00 to $26.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 6th. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $28.41.

Pfizer Stock Up 1.1%

Pfizer stock opened at $27.37 on Friday. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.65. The firm has a market cap of $155.59 billion, a P/E ratio of 14.56, a P/E/G ratio of 0.88 and a beta of 0.55. The business has a fifty day moving average of $24.67 and a two-hundred day moving average of $24.14. Pfizer Inc. has a twelve month low of $20.92 and a twelve month high of $30.43.

Pfizer (NYSE:PFE - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The biopharmaceutical company reported $0.78 EPS for the quarter, topping the consensus estimate of $0.58 by $0.20. The firm had revenue of $14.65 billion during the quarter, compared to analyst estimates of $13.43 billion. Pfizer had a return on equity of 21.42% and a net margin of 16.84%.The business's revenue for the quarter was up 10.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.60 EPS. Pfizer has set its FY 2025 guidance at 2.900-3.100 EPS. On average, analysts forecast that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.

About Pfizer

Pfizer Inc discovers, develops, manufactures, markets, distributes, and sells biopharmaceutical products in the United States, Europe, and internationally. The company offers medicines and vaccines in various therapeutic areas, including cardiovascular metabolic, migraine, and women's health under the Eliquis, Nurtec ODT/Vydura, Zavzpret, and the Premarin family brands; infectious diseases with unmet medical needs under the Prevnar family, Abrysvo, Nimenrix, FSME/IMMUN-TicoVac, and Trumenba brands; and COVID-19 prevention and treatment, and potential future mRNA and antiviral products under the Comirnaty and Paxlovid brands.

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