Bessemer Group Inc. Lowers Position in Pfizer Inc. $PFE

Bessemer Group Inc. cut its holdings in shares of Pfizer Inc. (NYSE:PFE) by 7.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 122,865 shares of the biopharmaceutical company’s stock after selling 9,613 shares during the quarter. Bessemer Group Inc.’s holdings in Pfizer were worth $2,978,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of Pfizer by 0.9% during the 1st 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 period. Northern Trust Corp boosted its holdings in Pfizer by 6.8% during the 1st quarter. Northern Trust Corp now owns 62,325,957 shares of the biopharmaceutical company’s stock valued at $1,579,340,000 after acquiring an additional 3,943,397 shares during the period. Amundi boosted its holdings in Pfizer by 43.4% during the 1st 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. boosted its holdings in Pfizer by 2.8% during the 1st 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 period. Finally, Deutsche Bank AG boosted its holdings in Pfizer by 7.0% during the 1st 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 period. 68.36% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on PFE shares. 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. Citigroup increased their price target on Pfizer from $25.00 to $26.00 and gave the company a “neutral” rating in a research report on Wednesday, August 6th. Wall Street Zen lowered Pfizer from a “buy” rating to a “hold” rating in a research report on Sunday, September 28th. Finally, Bank of America increased their price target on Pfizer from $28.00 to $30.00 and gave the company a “neutral” rating in a research report on Friday, October 3rd. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $28.13.

Pfizer Price Performance

Shares of NYSE PFE opened at $24.32 on Thursday. 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 Inc. has a fifty-two week low of $20.92 and a fifty-two week high of $28.64. The firm has a market capitalization of $138.26 billion, a PE ratio of 12.94, a price-to-earnings-growth ratio of 0.81 and a beta of 0.55. The stock’s 50-day simple moving average is $24.82 and its 200-day simple moving average is $24.25.

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

Pfizer Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Friday, November 7th will be paid a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 7.1%. The ex-dividend date is Friday, November 7th. 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.