Pavion Blue Capital LLC has increased its position in Pfizer Inc. (NYSE: PFE) by 8.8% during the second quarter of 2023, according to HoldingsChannel. The fund now holds 9,787 shares of the biopharmaceutical company after acquiring an additional 788 shares in that period. At the close of the most recent quarter, these holdings were valued at approximately $237,000.
A number of other institutional investors have also adjusted their stakes in Pfizer. Capital Advisory Group Advisory Services LLC raised its investment by 2.9%, bringing its total to 13,542 shares, valued at $328,000 after acquiring an additional 388 shares. Similarly, Citizens National Bank Trust Department increased its stake by 0.9%, now owning 46,103 shares worth $1,118,000 following an additional 395 shares purchase.
Trust Co of the South also raised its holding by 1.5%, owning 29,386 shares valued at $712,000 after acquiring 441 shares. Charter Oak Capital Management LLC increased its stake by 4.3%, now holding 10,663 shares valued at $258,000. Lastly, Ballentine Partners LLC grew its holdings by 0.5%, owning 93,228 shares worth $2,260,000 after purchasing an additional 458 shares. Collectively, hedge funds and institutional investors now own 68.36% of Pfizer’s stock.
Analysts Adjust Price Targets
Recent analyses from various research firms have led to adjustments in Pfizer’s stock ratings. Morgan Stanley reduced its price target from $33.00 to $32.00 while maintaining an “equal weight” rating. Additionally, Weiss Ratings reiterated a “hold (c-)” rating for the stock, reflecting mixed sentiments among analysts.
UBS Group reaffirmed a “neutral” rating with a price target of $28.00. In contrast, Wall Street Zen downgraded the stock from a “buy” to a “hold” rating. Citigroup, meanwhile, raised its target from $25.00 to $26.00 while maintaining a “neutral” rating.
Currently, two analysts have given Pfizer a “strong buy” rating, four have rated it as a “buy,” while eleven have suggested a “hold,” and one analyst issued a “sell” recommendation. Data from MarketBeat.com indicates that the average rating for Pfizer stands at “hold,” with an average target price of $28.13.
Pfizer’s Stock Performance
As of Tuesday, Pfizer shares opened at $24.76. The company holds a debt-to-equity ratio of 0.65, a current ratio of 1.16, and a quick ratio of 0.85. The stock has experienced a one-year low of $20.92 and a high of $29.17. Its 50-day moving average is $24.86, while the 200-day moving average stands at $24.21. Pfizer’s market capitalization is approximately $140.75 billion, with a price-to-earnings ratio of 13.17, a PEG ratio of 0.82, and a beta of 0.55.
On August 5, 2023, Pfizer released its quarterly earnings, reporting $0.78 earnings per share (EPS), surpassing the consensus estimate of $0.58. The company reported a net margin of 16.84% and a return on equity of 21.42%, with a revenue of $14.65 billion, exceeding analysts’ expectations of $13.43 billion. This represents a year-over-year revenue growth of 10.3%. For the fiscal year 2025, Pfizer has projected EPS guidance between $2.90 and $3.10, and analysts expect the company to post an average EPS of $2.95 for the current fiscal year.
Pfizer has also announced a quarterly dividend of $0.43 per share, scheduled for payment on December 1, 2023. Shareholders on record as of November 7, 2023 will receive this dividend, which translates to an annualized amount of $1.72 and a yield of 6.9%. The ex-dividend date is set for November 7, 2023, with a current dividend payout ratio of 91.49%.
Pfizer Inc. is engaged in discovering, developing, manufacturing, marketing, and selling biopharmaceutical products in the United States and internationally. The company offers a range of medicines and vaccines across various therapeutic areas, including cardiovascular health, infectious diseases, and COVID-19 prevention and treatment.
