Letko Brosseau & Associates Inc. Purchases 138,300 Shares of Pfizer Inc. $PFE

Letko Brosseau & Associates Inc. lifted its position in shares of Pfizer Inc. (NYSE:PFE) by 3.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,985,888 shares of the biopharmaceutical company’s stock after acquiring an additional 138,300 shares during the period. Pfizer makes up approximately 1.8% of Letko Brosseau & Associates Inc.’s portfolio, making the stock its 19th largest position. Letko Brosseau & Associates Inc.’s holdings in Pfizer were worth $96,618,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in PFE. Pacer Advisors Inc. boosted its position in shares of Pfizer by 856.8% during the first quarter. Pacer Advisors Inc. now owns 20,053,828 shares of the biopharmaceutical company’s stock valued at $508,164,000 after buying an additional 17,957,928 shares during the last quarter. Amundi grew its stake in shares of Pfizer by 43.4% in the first quarter. Amundi now owns 52,090,403 shares of the biopharmaceutical company’s stock worth $1,265,277,000 after acquiring an additional 15,758,846 shares during the period. Nuveen LLC purchased a new position in shares of Pfizer during the first quarter valued at approximately $389,861,000. Goldman Sachs Group Inc. lifted its position in Pfizer by 51.9% during the first quarter. Goldman Sachs Group Inc. now owns 26,456,457 shares of the biopharmaceutical company’s stock valued at $670,407,000 after purchasing an additional 9,041,990 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in Pfizer by 0.9% in the first quarter. Vanguard Group Inc. now owns 523,165,127 shares of the biopharmaceutical company’s stock worth $13,257,004,000 after purchasing an additional 4,629,976 shares during the last quarter. 68.36% of the stock is owned by institutional investors.

Pfizer Trading Down 2.8%

Shares of PFE stock opened at $25.08 on Friday. The stock has a fifty day simple moving average of $24.80 and a two-hundred day simple moving average of $24.45. Pfizer Inc. has a 52-week low of $20.92 and a 52-week high of $27.69. The firm has a market capitalization of $142.57 billion, a PE ratio of 13.34, a PEG ratio of 0.81 and a beta of 0.54. 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) last released its quarterly earnings data on Tuesday, November 4th. The biopharmaceutical company reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.79 by $0.08. The firm had revenue of $16.65 billion during the quarter, compared to analyst estimates of $16.94 billion. Pfizer had a return on equity of 21.42% and a net margin of 16.84%. Pfizer has set its FY 2025 guidance at 3.000-3.150 EPS. On average, analysts predict that Pfizer Inc. will post 2.95 EPS for the current fiscal year.

Pfizer Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Friday, November 7th will be issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 6.9%. The ex-dividend date of this dividend is Friday, November 7th. Pfizer’s dividend payout ratio (DPR) is 100.00%.

Analyst Upgrades and Downgrades

PFE has been the topic of a number of research reports. Wall Street Zen downgraded Pfizer from a “buy” rating to a “hold” rating in a research note on Sunday, September 28th. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $30.00 price target on shares of Pfizer in a research report on Friday, October 31st. Bank of America upped their target price on shares of Pfizer from $28.00 to $30.00 and gave the company a “neutral” rating in a report on Friday, October 3rd. Citigroup lifted their price target on shares of Pfizer from $25.00 to $26.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 6th. Finally, The Goldman Sachs Group reissued a “neutral” rating and set a $26.00 price objective on shares of Pfizer in a research report on Wednesday, November 5th. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $28.28.

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.