SCS Capital Management LLC Acquires Shares of 30,716 Pfizer Inc. $PFE

Key Points

• SCS Capital Management LLC has acquired 30,716 shares of Pfizer Inc. valued at approximately $778,000 in the first quarter of the year.
• Institutional investors own 68.36% of Pfizer's stock, with notable acquisitions including Pacer Advisors Inc. increasing their position by 856.8%.
• Pfizer reported a 10.3% year-over-year increase in revenue, with quarterly earnings of $0.78 per share, surpassing analysts' expectations.

SCS Capital Management LLC purchased a new stake in shares of Pfizer Inc. (NYSE:PFE - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 30,716 shares of the biopharmaceutical company's stock, valued at approximately $778,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of PFE. Pacer Advisors Inc. grew its position in shares of Pfizer by 856.8% during the 1st quarter. Pacer Advisors Inc. now owns 20,053,828 shares of the biopharmaceutical company's stock worth $508,164,000 after buying an additional 17,957,928 shares in the last quarter. Amundi grew its holdings in Pfizer by 43.4% during the 1st quarter. Amundi now owns 52,090,403 shares of the biopharmaceutical company's stock worth $1,265,277,000 after acquiring an additional 15,758,846 shares in the last quarter. Nuveen LLC bought a new position in Pfizer during the 1st quarter worth about $389,861,000. Starboard Value LP purchased a new position in Pfizer during the 4th quarter valued at about $407,730,000. Finally, Goldman Sachs Group Inc. raised its holdings in shares of Pfizer by 51.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 26,456,457 shares of the biopharmaceutical company's stock valued at $670,407,000 after purchasing an additional 9,041,990 shares in the last quarter. Institutional investors own 68.36% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently commented on PFE. HSBC reduced their price objective on shares of Pfizer from $27.00 to $26.00 and set a "buy" rating for the company in a research note on Monday, May 19th. Jefferies Financial Group boosted their price target on Pfizer from $32.00 to $33.00 and gave the stock a "buy" rating in a research report on Wednesday, May 21st. Berenberg Bank dropped their price objective on Pfizer from $28.00 to $25.00 and set a "hold" rating on the stock in a research report on Thursday, May 29th. Citigroup boosted their target price on shares of Pfizer from $25.00 to $26.00 and gave the stock a "neutral" rating in a report on Wednesday, August 6th. Finally, Bank of America raised their price target on shares of Pfizer from $27.00 to $28.00 and gave the company a "neutral" rating in a report on Wednesday, August 6th. Two analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Pfizer presently has an average rating of "Hold" and an average price target of $28.12.

Pfizer Price Performance

NYSE PFE opened at $24.59 on Thursday. The company has a market cap of $139.79 billion, a price-to-earnings ratio of 13.08, a PEG ratio of 0.88 and a beta of 0.55. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.16 and a quick ratio of 0.85. The stock's fifty day moving average price is $24.83 and its 200 day moving average price is $24.33. Pfizer Inc. has a 1 year low of $20.92 and a 1 year high of $30.43.

Pfizer (NYSE:PFE - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The biopharmaceutical company reported $0.78 earnings per share for the quarter, beating analysts' consensus estimates of $0.58 by $0.20. Pfizer had a return on equity of 21.42% and a net margin of 16.84%.The business had revenue of $14.65 billion for the quarter, compared to analyst estimates of $13.43 billion. During the same period in the prior year, the company earned $0.60 earnings per share. The company's revenue was up 10.3% on a year-over-year basis. Pfizer has set its FY 2025 guidance at 2.900-3.100 EPS. As a group, equities research analysts forecast that Pfizer Inc. will post 2.95 earnings per share for the current year.

Pfizer Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Friday, July 25th were paid a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 7.0%. The ex-dividend date was Friday, July 25th. Pfizer's payout ratio is presently 91.49%.

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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