Truist Financial Corp Has $70.17 Million Stock Holdings in Pfizer Inc. $PFE

Key Points

• Truist Financial Corp reduced its holdings in Pfizer Inc. by 0.9% during Q2, now owning approximately 2.89 million shares valued at about $70.17 million.
• Pfizer's stock has shown a significant price range of $20.92 to $30.43 in the past year, currently trading at $27.21.
• The company reported Q2 earnings of $0.78 per share, exceeding estimates, with revenue totaling $14.65 billion, marking a 10.3% increase from last year.

Truist Financial Corp trimmed its holdings in shares of Pfizer Inc. (NYSE:PFE - Free Report) by 0.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,894,643 shares of the biopharmaceutical company's stock after selling 25,611 shares during the period. Truist Financial Corp owned approximately 0.05% of Pfizer worth $70,166,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. GKV Capital Management Co. Inc. purchased a new stake in Pfizer in the 1st quarter worth about $27,000. North Capital Inc. acquired a new stake in Pfizer during the first quarter valued at $28,000. Bayforest Capital Ltd purchased a new position in Pfizer in the first quarter valued at about $28,000. Horizon Financial Services LLC acquired a new position in Pfizer in the 1st quarter worth about $35,000. Finally, WPG Advisers LLC acquired a new position in Pfizer in the 1st quarter worth about $35,000. 68.36% of the stock is owned by hedge funds and other institutional investors.

Pfizer Price Performance

Shares of NYSE:PFE opened at $27.21 on Thursday. Pfizer Inc. has a fifty-two week low of $20.92 and a fifty-two week high of $30.43. The business has a 50-day moving average of $24.59 and a two-hundred day moving average of $24.14. The stock has a market capitalization of $154.68 billion, a P/E ratio of 14.47, a P/E/G ratio of 0.82 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.

Pfizer (NYSE:PFE - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The biopharmaceutical company reported $0.78 earnings per share for the quarter, topping 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 company had revenue of $14.65 billion during the quarter, compared to analysts' expectations of $13.43 billion. During the same quarter in the previous year, the firm earned $0.60 earnings per share. The business's quarterly revenue was up 10.3% compared to the same quarter last year. Pfizer has set its FY 2025 guidance at 2.900-3.100 EPS. On average, equities research analysts predict that Pfizer Inc. will post 2.95 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. UBS Group reaffirmed a "neutral" rating and issued a $28.00 target price on shares of Pfizer in a research report on Wednesday. Morgan Stanley upped their target price on Pfizer from $32.00 to $33.00 and gave the stock 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 research report on Sunday. Citigroup upped their price objective 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 increased their target price on shares of Pfizer from $27.00 to $28.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 6th. Two equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $28.29.

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.

Want to see what other hedge funds are holding PFE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pfizer Inc. (NYSE:PFE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.