Private Wealth Partners LLC has decreased its stake in Pfizer Inc. (NYSE:PFE) by 13.1%, selling 77,813 shares during the second quarter of 2023. The firm now holds 515,346 shares of the biopharmaceutical company, which accounts for 1.0% of its portfolio, ranking as its 26th largest position. As of the latest filing with the Securities and Exchange Commission, these holdings are valued at approximately $12,492,000.
Several institutional investors have also made moves with Pfizer shares recently. GKV Capital Management Co. Inc. acquired a new stake in Pfizer valued at $27,000 during the first quarter. Curio Wealth LLC significantly increased its stake by an astonishing 36,600.0% in the same quarter, bringing its total to 1,101 shares worth $27,000. Other investors, including North Capital Inc. and Bayforest Capital Ltd, also purchased new stakes valued at $28,000 each, while Harbor Asset Planning Inc. bought shares worth $29,000. Currently, institutional investors own 68.36% of Pfizer’s stock.
Analyst Ratings and Stock Performance
Analysts have varied opinions on Pfizer’s stock, with Citigroup raising its price target from $25.00 to $26.00 and maintaining a “neutral” rating. In contrast, Wall Street Zen downgraded the stock from a “buy” to a “hold” rating. Bank of America increased its target price from $28.00 to $30.00, while Morgan Stanley reduced its target from $33.00 to $32.00. Currently, two analysts have rated Pfizer with a “Strong Buy,” four with a “Buy,” eleven with a “Hold,” and one with a “Sell.” According to MarketBeat, the consensus rating for Pfizer is “Hold,” with a target price of $28.13.
As of the latest trading session, Pfizer stock opened at $24.76. Over the past year, the stock has seen a low of $20.92 and a high of $29.17. Pfizer’s market capitalization stands at $140.75 billion, with a price-to-earnings (PE) ratio of 13.17 and a price-to-earnings-growth (PEG) ratio of 0.82.
Quarterly Earnings and Dividend Announcement
In its most recent quarterly earnings report released on August 5, 2023, Pfizer reported earnings per share of $0.78, surpassing the consensus estimate of $0.58 by $0.20. The company recorded a net margin of 16.84% and a return on equity of 21.42%. Pfizer’s revenue reached $14.65 billion, exceeding analyst expectations of $13.43 billion and reflecting a year-over-year increase of 10.3%.
Looking ahead, Pfizer has set its fiscal year 2025 guidance between $2.900 and $3.100 earnings per share. Analysts predict the company will post earnings of $2.95 for the current fiscal year.
In addition to its financial performance, Pfizer has announced a quarterly dividend of $0.43 per share, payable on December 1, 2023. The record date for this dividend is November 7, 2023, with an ex-dividend date also set for November 7. This dividend represents an annualized payout of $1.72, equating to a yield of 6.9%. Pfizer’s current payout ratio is 91.49%.
Pfizer Inc. is a leading biopharmaceutical company engaged in the discovery, development, manufacture, marketing, and distribution of various healthcare products globally. The firm offers a range of medicines and vaccines addressing numerous therapeutic areas, including cardiovascular health, infectious diseases, and COVID-19 prevention and treatment.
