Wedge Capital Management L L P NC Has $31.08 Million Stock Holdings in Pfizer Inc. $PFE

Key Points

• Wedge Capital Management increased its holdings in Pfizer by 2.0%, now owning over 1.28 million shares valued at approximately $31.08 million.
• Pfizer stocks received mixed reviews from analysts, with notable upgrades including a shift from "hold" to "buy" by Wall Street Zen, while some target prices were adjusted downwards.
• The biopharmaceutical company reported $0.78 EPS for its latest quarter, surpassing estimates, with a revenue of $14.65 billion, marking a 10.3% year-over-year increase.

Wedge Capital Management L L P NC grew its holdings in Pfizer Inc. (NYSE:PFE - Free Report) by 2.0% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,282,259 shares of the biopharmaceutical company's stock after purchasing an additional 24,736 shares during the period. Wedge Capital Management L L P NC's holdings in Pfizer were worth $31,082,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in PFE. Capital Advisory Group Advisory Services LLC increased its stake in shares of Pfizer by 2.9% during the second quarter. Capital Advisory Group Advisory Services LLC now owns 13,542 shares of the biopharmaceutical company's stock worth $328,000 after acquiring an additional 388 shares during the period. Trust Co of the South grew its stake in Pfizer by 1.5% in the 2nd quarter. Trust Co of the South now owns 29,386 shares of the biopharmaceutical company's stock worth $712,000 after acquiring an additional 441 shares during the period. Charter Oak Capital Management LLC grew its stake in shares of Pfizer by 4.3% during the 2nd quarter. Charter Oak Capital Management LLC now owns 10,663 shares of the biopharmaceutical company's stock valued at $258,000 after buying an additional 444 shares during the period. Members Trust Co boosted its position in Pfizer by 2.1% during the 1st quarter. Members Trust Co now owns 23,175 shares of the biopharmaceutical company's stock worth $587,000 after purchasing an additional 467 shares during the period. Finally, Sutton Place Investors LLC boosted its position in Pfizer by 5.6% during the 1st quarter. Sutton Place Investors LLC now owns 8,833 shares of the biopharmaceutical company's stock worth $224,000 after purchasing an additional 472 shares during the period. Institutional investors own 68.36% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on PFE shares. Wall Street Zen upgraded shares of Pfizer from a "hold" rating to a "buy" rating in a research note on Saturday. Bank of America upped their target price on shares of Pfizer from $27.00 to $28.00 and gave the company a "neutral" rating in a research note on Wednesday, August 6th. Berenberg Bank lowered their price objective on shares of Pfizer from $28.00 to $25.00 and set a "hold" rating for the company in a research report on Thursday, May 29th. Citigroup boosted their price objective on shares of Pfizer from $25.00 to $26.00 and gave the company a "neutral" rating in a research report on Wednesday, August 6th. Finally, Morgan Stanley boosted their price objective on shares of Pfizer from $32.00 to $33.00 and gave the company an "equal weight" rating in a research report on Wednesday, August 6th. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Pfizer has an average rating of "Hold" and a consensus price target of $28.12.

Pfizer Stock Performance

NYSE:PFE opened at $24.03 on Friday. Pfizer Inc. has a 1 year low of $20.92 and a 1 year high of $30.43. The firm's fifty day simple moving average is $24.63 and its 200 day simple moving average is $24.22. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $136.62 billion, a PE ratio of 12.78, a PEG ratio of 0.85 and a beta of 0.55.

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 (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.20. Pfizer had a net margin of 16.84% and a return on equity of 21.42%. The company had revenue of $14.65 billion for the quarter, compared to analyst estimates of $13.43 billion. During the same period last year, the business posted $0.60 EPS. The business's quarterly revenue was up 10.3% on a year-over-year basis. Pfizer has set its FY 2025 guidance at 2.900-3.100 EPS. On average, sell-side analysts anticipate that Pfizer Inc. will post 2.95 EPS for the current year.

Pfizer Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Friday, July 25th were given a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 7.2%. The ex-dividend date of this dividend was Friday, July 25th. Pfizer's dividend 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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