Violich Capital Management Inc. Sells 10,200 Shares of Pfizer Inc. $PFE

Key Points

• Violich Capital Management Inc. sold 10,200 shares of Pfizer Inc., reducing its stake by 24.7% in the second quarter, leaving it with 31,037 shares valued at $752,000.
• Pfeizer's quarterly earnings exceeded expectations, reporting $0.78 EPS against an estimated $0.58, with revenue of $14.65 billion, a 10.3% year-over-year increase.
• The company announced a quarterly dividend of $0.43, yielding 7.0%, set to be paid on December 1st for investors on record by November 7th.

Violich Capital Management Inc. lessened its stake in shares of Pfizer Inc. (NYSE:PFE - Free Report) by 24.7% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,037 shares of the biopharmaceutical company's stock after selling 10,200 shares during the period. Violich Capital Management Inc.'s holdings in Pfizer were worth $752,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. First Bancorp Inc ME boosted its stake in Pfizer by 6.7% during the 2nd quarter. First Bancorp Inc ME now owns 18,215 shares of the biopharmaceutical company's stock valued at $442,000 after purchasing an additional 1,145 shares during the last quarter. TrueMark Investments LLC boosted its stake in Pfizer by 3.6% during the 2nd quarter. TrueMark Investments LLC now owns 110,930 shares of the biopharmaceutical company's stock valued at $2,689,000 after purchasing an additional 3,807 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Pfizer during the 2nd quarter valued at $9,582,000. Signature Estate & Investment Advisors LLC boosted its stake in Pfizer by 19.3% during the 2nd quarter. Signature Estate & Investment Advisors LLC now owns 22,976 shares of the biopharmaceutical company's stock valued at $557,000 after purchasing an additional 3,722 shares during the last quarter. Finally, United Bank boosted its stake in Pfizer by 12.4% during the 2nd quarter. United Bank now owns 58,087 shares of the biopharmaceutical company's stock valued at $1,408,000 after purchasing an additional 6,415 shares during the last quarter. Institutional investors own 68.36% of the company's stock.

Pfizer Price Performance

Shares of Pfizer stock opened at $24.52 on Friday. Pfizer Inc. has a one year low of $20.92 and a one year high of $29.36. The stock's fifty day moving average is $24.89 and its 200 day moving average is $24.11. The stock has a market cap of $139.38 billion, a P/E ratio of 13.04, a P/E/G ratio of 0.81 and a beta of 0.55. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.85 and a current ratio of 1.16.

Pfizer (NYSE:PFE - Get Free Report) last announced its earnings results on Tuesday, August 5th. The biopharmaceutical company reported $0.78 EPS 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 for the quarter, compared to analysts' expectations of $13.43 billion. During the same period last year, the firm earned $0.60 EPS. Pfizer's revenue for the quarter was up 10.3% compared to the same quarter last year. Pfizer has set its FY 2025 guidance at 2.900-3.100 EPS. Sell-side analysts anticipate that Pfizer Inc. will post 2.95 earnings per share for the current year.

Pfizer Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 7th will be issued a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 7.0%. The ex-dividend date of this dividend is Friday, November 7th. Pfizer's dividend payout ratio (DPR) is currently 91.49%.

Wall Street Analyst Weigh In

Several analysts have commented on PFE shares. Weiss Ratings reiterated a "hold (c-)" rating on shares of Pfizer in a research note on Wednesday, October 8th. Morgan Stanley dropped their price target on Pfizer from $33.00 to $32.00 and set an "equal weight" rating on the stock in a research note on Friday, October 10th. Citigroup raised their price target on Pfizer from $25.00 to $26.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 6th. UBS Group restated a "neutral" rating and issued a $28.00 price target on shares of Pfizer in a research note on Wednesday, October 1st. Finally, Wall Street Zen downgraded Pfizer from a "buy" rating to a "hold" rating in a research note on Sunday, September 28th. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $28.13.

Pfizer 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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