Westchester Capital Management Inc. Acquires 1,082 Shares of Pfizer Inc. $PFE

Westchester Capital Management Inc. boosted its stake in Pfizer Inc. (NYSE:PFE) by 0.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 274,512 shares of the biopharmaceutical company’s stock after purchasing an additional 1,082 shares during the quarter. Pfizer comprises about 1.6% of Westchester Capital Management Inc.’s investment portfolio, making the stock its 23rd largest holding. Westchester Capital Management Inc.’s holdings in Pfizer were worth $6,654,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. GKV Capital Management Co. Inc. acquired a new stake in shares of Pfizer in the 1st quarter valued at approximately $27,000. Bayforest Capital Ltd acquired a new position in Pfizer during the first quarter valued at approximately $28,000. North Capital Inc. acquired a new stake in Pfizer in the first quarter worth $28,000. WPG Advisers LLC acquired a new position in shares of Pfizer in the 1st quarter valued at $35,000. Finally, Horizon Financial Services LLC acquired a new stake in Pfizer during the 1st quarter worth $35,000. Institutional investors own 68.36% of the company’s stock.

Pfizer Stock Down 1.7%

Pfizer stock opened at $24.81 on Monday. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.65. Pfizer Inc. has a 1-year low of $20.92 and a 1-year high of $29.82. The company has a fifty day simple moving average of $24.86 and a 200 day simple moving average of $24.12. The company has a market cap of $141.03 billion, a P/E ratio of 13.19, a price-to-earnings-growth ratio of 0.82 and a beta of 0.55.

Pfizer (NYSE:PFE) last issued its quarterly earnings results on Tuesday, August 5th. The biopharmaceutical company reported $0.78 EPS for the quarter, topping the consensus estimate of $0.58 by $0.20. The firm had revenue of $14.65 billion for the quarter, compared to analysts’ expectations of $13.43 billion. Pfizer had a net margin of 16.84% and a return on equity of 21.42%. The company’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.60 EPS. Pfizer has set its FY 2025 guidance at 2.900-3.100 EPS. Research analysts anticipate that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.

Pfizer Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Friday, November 7th will be given a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 6.9%. The ex-dividend date of this dividend is Friday, November 7th. Pfizer’s dividend payout ratio (DPR) is presently 91.49%.

Analyst Upgrades and Downgrades

PFE has been the subject of several recent analyst reports. Wall Street Zen downgraded Pfizer from a “buy” rating to a “hold” rating in a report on Sunday, September 28th. Citigroup increased their target price on Pfizer from $25.00 to $26.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 6th. Bank of America raised their target price on shares of Pfizer from $28.00 to $30.00 and gave the stock a “neutral” rating in a report on Friday, October 3rd. Weiss Ratings reiterated a “hold (c-)” rating on shares of Pfizer in a report on Wednesday, October 8th. Finally, Morgan Stanley cut their price objective on shares of Pfizer from $33.00 to $32.00 and set an “equal weight” rating on the stock in a research report on Friday. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $28.35.

Pfizer Company 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.