Westpac Banking Corp Raises Stock Position in Pfizer Inc. $PFE

Westpac Banking Corp boosted its position in Pfizer Inc. (NYSE:PFE) by 18.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 226,030 shares of the biopharmaceutical company’s stock after purchasing an additional 35,422 shares during the quarter. Westpac Banking Corp’s holdings in Pfizer were worth $5,479,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in PFE. GKV Capital Management Co. Inc. purchased a new position in Pfizer during the first quarter worth about $27,000. Curio Wealth LLC raised its holdings in shares of Pfizer by 36,600.0% in the 2nd quarter. Curio Wealth LLC now owns 1,101 shares of the biopharmaceutical company’s stock valued at $27,000 after acquiring an additional 1,098 shares in the last quarter. Bayforest Capital Ltd bought a new stake in shares of Pfizer during the 1st quarter valued at about $28,000. Harbor Asset Planning Inc. purchased a new position in shares of Pfizer during the second quarter worth about $29,000. Finally, WPG Advisers LLC bought a new position in shares of Pfizer in the first quarter worth approximately $35,000. Institutional investors own 68.36% of the company’s stock.

Pfizer Price Performance

Shares of NYSE:PFE opened at $25.08 on Friday. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.65. The stock has a market cap of $142.57 billion, a PE ratio of 13.34, a PEG ratio of 0.81 and a beta of 0.54. The company’s fifty day moving average is $24.80 and its 200 day moving average is $24.45. Pfizer Inc. has a 52 week low of $20.92 and a 52 week high of $27.69.

Pfizer (NYSE:PFE) last announced its quarterly earnings data on Tuesday, November 4th. The biopharmaceutical company reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.08. Pfizer had a return on equity of 21.42% and a net margin of 16.84%.The firm had revenue of $16.65 billion for the quarter, compared to analysts’ expectations of $16.94 billion. Pfizer has set its FY 2025 guidance at 3.000-3.150 EPS. Research analysts anticipate that Pfizer Inc. will post 2.95 earnings per share for the current year.

Pfizer Dividend Announcement

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 given a $0.43 dividend. The ex-dividend date is Friday, November 7th. This represents a $1.72 annualized dividend and a yield of 6.9%. Pfizer’s payout ratio is presently 100.00%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on PFE shares. Wall Street Zen lowered shares of Pfizer from a “buy” rating to a “hold” rating in a research report on Sunday, September 28th. Citigroup lifted their price objective on shares of Pfizer from $25.00 to $26.00 and gave the stock a “neutral” rating in a report on Wednesday, August 6th. Bank of America increased their target price on Pfizer from $28.00 to $30.00 and gave the company a “neutral” rating in a research note on Friday, October 3rd. Scotiabank initiated coverage on Pfizer in a research note on Thursday. They set a “sector outperform” rating and a $30.00 price target for the company. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Pfizer in a report on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $28.28.

About Pfizer

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.