UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Sells 711,927 Shares of Pfizer Inc. $PFE

Key Points

• UBS Asset Management sold 711,927 shares of Pfizer Inc. in the first quarter, reducing its ownership to approximately 38.69 million shares, valued at about $980.4 million.
• Several hedge funds have recently increased their stakes in Pfizer, including Pacer Advisors and Amundi, highlighting significant institutional interest.
• Pfizer reported better than expected quarterly earnings with $0.78 EPS and a revenue of $14.65 billion, exceeding analysts' forecasts.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC trimmed its position in shares of Pfizer Inc. (NYSE:PFE - Free Report) by 1.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 38,690,692 shares of the biopharmaceutical company's stock after selling 711,927 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned approximately 0.68% of Pfizer worth $980,422,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PFE. Citigroup boosted their price target on shares of Pfizer from $25.00 to $26.00 and gave the company a "neutral" rating in a report on Wednesday, August 6th. Berenberg Bank dropped their target price on shares of Pfizer from $28.00 to $25.00 and set a "hold" rating on the stock in a report on Thursday, May 29th. Morgan Stanley increased their price target on shares of Pfizer from $32.00 to $33.00 and gave the company an "equal weight" rating in a report on Wednesday, August 6th. Jefferies Financial Group boosted their price target on Pfizer from $32.00 to $33.00 and gave the company a "buy" rating in a research note on Wednesday, May 21st. Finally, Bank of America lifted their price objective on Pfizer from $27.00 to $28.00 and gave the company a "neutral" rating in a 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 issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $28.12.

Pfizer Stock Performance

Pfizer stock opened at $24.55 on Tuesday. 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 stock has a market cap of $139.56 billion, a PE ratio of 13.06, a P/E/G ratio of 0.88 and a beta of 0.55. Pfizer Inc. has a 12-month low of $20.92 and a 12-month high of $30.43. The business's 50-day moving average price is $24.85 and its two-hundred day moving average price is $24.32.

Pfizer (NYSE:PFE - Get Free Report) last posted its quarterly earnings results 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. The company had revenue of $14.65 billion for the quarter, compared to the consensus estimate of $13.43 billion. Pfizer had a net margin of 16.84% and a return on equity of 21.42%. The firm's quarterly revenue was up 10.3% compared to the same quarter last year. During the same period last year, the company posted $0.60 EPS. Pfizer has set its FY 2025 guidance at 2.900-3.100 EPS. As a group, analysts expect 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 was paid on Tuesday, September 2nd. Stockholders of record on Friday, July 25th were given a $0.43 dividend. The ex-dividend date was Friday, July 25th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 7.0%. Pfizer's payout ratio is 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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