Convergence Investment Partners LLC Reduces Holdings in Pfizer Inc. $PFE

Convergence Investment Partners LLC trimmed its stake in shares of Pfizer Inc. (NYSE:PFE) by 81.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,300 shares of the biopharmaceutical company’s stock after selling 48,188 shares during the quarter. Convergence Investment Partners LLC’s holdings in Pfizer were worth $274,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of PFE. Vanguard Group Inc. increased its stake in shares of 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 buying an additional 4,629,976 shares during the period. Northern Trust Corp grew its holdings in Pfizer by 6.8% in the 1st quarter. Northern Trust Corp now owns 62,325,957 shares of the biopharmaceutical company’s stock worth $1,579,340,000 after acquiring an additional 3,943,397 shares during the last quarter. Amundi increased its position in shares of Pfizer by 43.4% in the first quarter. Amundi now owns 52,090,403 shares of the biopharmaceutical company’s stock valued at $1,265,277,000 after acquiring an additional 15,758,846 shares during the period. Invesco Ltd. raised its stake in shares of Pfizer by 2.8% during the first quarter. Invesco Ltd. now owns 30,296,337 shares of the biopharmaceutical company’s stock valued at $767,709,000 after acquiring an additional 838,198 shares during the last quarter. Finally, Deutsche Bank AG raised its stake in shares of Pfizer by 7.0% during the first quarter. Deutsche Bank AG now owns 28,239,197 shares of the biopharmaceutical company’s stock valued at $715,581,000 after acquiring an additional 1,846,436 shares during the last quarter. Institutional investors own 68.36% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on PFE. Weiss Ratings restated a “hold (c-)” rating on shares of Pfizer in a report on Wednesday, October 8th. UBS Group restated a “neutral” rating and set a $28.00 target price on shares of Pfizer in a report on Wednesday, October 1st. Bank of America lifted their price target 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 raised their target price on shares of Pfizer from $25.00 to $26.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 6th. Finally, Wall Street Zen cut shares of Pfizer from a “buy” rating to a “hold” rating in a research report on Sunday, September 28th. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $28.13.

Pfizer Trading Down 0.0%

NYSE PFE opened at $24.76 on Tuesday. Pfizer Inc. has a 12 month low of $20.92 and a 12 month high of $29.17. 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 stock’s fifty day moving average price is $24.86 and its 200-day moving average price is $24.21. The stock has a market cap of $140.75 billion, a P/E ratio of 13.17, a P/E/G ratio of 0.82 and a beta of 0.55.

Pfizer (NYSE:PFE) last announced its quarterly earnings results on Tuesday, August 5th. The biopharmaceutical company reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $13.43 billion. During the same quarter in the previous year, the business posted $0.60 EPS. Pfizer’s revenue was up 10.3% compared to the same quarter last year. Pfizer has set its FY 2025 guidance at 2.900-3.100 EPS. As a group, equities analysts forecast that Pfizer Inc. will post 2.95 EPS for the current fiscal year.

Pfizer Dividend Announcement

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

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.