TD Asset Management Inc Increases Holdings in Pfizer Inc. $PFE

Key Points

• TD Asset Management Inc has increased its holdings in Pfizer by 19.6%, acquiring an additional 602,774 shares, bringing its total to approximately $89.16 million in value.
• Pfizer's quarterly earnings topped expectations with a reported $0.78 EPS and revenues of $14.65 billion, surpassing analyst predictions and reflecting a 10.3% year-over-year increase.
• The company has declared a quarterly dividend of $0.43 per share, resulting in an annual yield of 7.0%, scheduled for payment on December 1st.

TD Asset Management Inc lifted its position in Pfizer Inc. (NYSE:PFE - Free Report) by 19.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,678,329 shares of the biopharmaceutical company's stock after purchasing an additional 602,774 shares during the quarter. TD Asset Management Inc owned about 0.06% of Pfizer worth $89,163,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. GKV Capital Management Co. Inc. purchased a new position in Pfizer during the first quarter valued at approximately $27,000. Bayforest Capital Ltd purchased a new position in Pfizer during the first quarter valued at approximately $28,000. North Capital Inc. purchased a new position in Pfizer during the first quarter valued at approximately $28,000. WPG Advisers LLC purchased a new position in Pfizer during the first quarter valued at approximately $35,000. Finally, Horizon Financial Services LLC purchased a new position in Pfizer during the first quarter valued at approximately $35,000. 68.36% of the stock is currently owned by hedge funds and other institutional investors.

Pfizer Stock Down 0.8%

Shares of PFE opened at $24.53 on Wednesday. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.65. Pfizer Inc. has a 12 month low of $20.92 and a 12 month high of $29.82. The stock's 50 day moving average is $24.88 and its two-hundred day moving average is $24.12. The firm has a market cap of $139.44 billion, a P/E ratio of 13.05, a PEG ratio of 0.82 and a beta of 0.55.

Pfizer (NYSE:PFE - Get Free Report) last issued 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. Pfizer had a return on equity of 21.42% and a net margin of 16.84%.The firm had revenue of $14.65 billion during the quarter, compared to analysts' expectations of $13.43 billion. During the same period in the previous year, the business earned $0.60 earnings per share. The firm's revenue for the quarter was up 10.3% on a year-over-year basis. Pfizer has set its FY 2025 guidance at 2.900-3.100 EPS. Analysts predict that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.

Pfizer Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 7th will be given a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 7.0%. The ex-dividend date is Friday, November 7th. Pfizer's payout ratio is presently 91.49%.

Analysts Set New Price Targets

Several research analysts recently weighed in on PFE shares. UBS Group reiterated a "neutral" rating and set a $28.00 price target on shares of Pfizer in a research report on Wednesday, October 1st. Citigroup lifted their price target on Pfizer from $25.00 to $26.00 and gave the company a "neutral" rating in a research report on Wednesday, August 6th. Weiss Ratings reissued a "hold (c-)" rating on shares of Pfizer in a report on Wednesday, October 8th. Wall Street Zen lowered Pfizer from a "buy" rating to a "hold" rating in a report on Sunday, September 28th. Finally, Morgan Stanley dropped their price objective on Pfizer from $33.00 to $32.00 and set an "equal weight" rating on the stock in a report on Friday. Two equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Pfizer has a consensus rating of "Hold" and a consensus price target of $28.35.

Pfizer Company Profile

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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