Sumitomo Life Insurance Co. Sells 2,829 Shares of Pfizer Inc. $PFE

Sumitomo Life Insurance Co. reduced its position in shares of Pfizer Inc. (NYSE:PFE) by 5.5% during the second quarter, Holdings Channel reports. The firm owned 48,673 shares of the biopharmaceutical company’s stock after selling 2,829 shares during the period. Sumitomo Life Insurance Co.’s holdings in Pfizer were worth $1,180,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Plato Investment Management Ltd raised its position in Pfizer by 12.5% in the second quarter. Plato Investment Management Ltd now owns 212,518 shares of the biopharmaceutical company’s stock worth $5,133,000 after acquiring an additional 23,646 shares during the period. Lifeworks Advisors LLC raised its position in shares of Pfizer by 25.8% in the second quarter. Lifeworks Advisors LLC now owns 323,888 shares of the biopharmaceutical company’s stock valued at $7,851,000 after purchasing an additional 66,511 shares during the period. Twin City Private Wealth LLC raised its position in shares of Pfizer by 4.1% in the second quarter. Twin City Private Wealth LLC now owns 44,509 shares of the biopharmaceutical company’s stock valued at $1,079,000 after purchasing an additional 1,769 shares during the period. Syverson Strege & Co bought a new stake in shares of Pfizer in the second quarter valued at approximately $330,000. Finally, Mccarter Private Wealth Services LLC raised its position in shares of Pfizer by 4.9% in the second quarter. Mccarter Private Wealth Services LLC now owns 15,029 shares of the biopharmaceutical company’s stock valued at $364,000 after purchasing an additional 700 shares during the period. Institutional investors own 68.36% of the company’s stock.

Pfizer Trading Up 1.6%

Shares of Pfizer stock opened at $24.68 on Monday. Pfizer Inc. has a 1 year low of $20.92 and a 1 year high of $28.64. The firm has a market cap of $140.29 billion, a PE ratio of 13.13, a PEG ratio of 0.81 and a beta of 0.55. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.16 and a quick ratio of 0.85. The company has a 50 day simple moving average of $24.77 and a two-hundred day simple moving average of $24.30.

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

Pfizer Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 7th will be issued 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 7.0%. Pfizer’s dividend payout ratio (DPR) is currently 91.49%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on PFE. UBS Group reissued a “neutral” rating and issued a $28.00 price target on shares of Pfizer in a research report on Wednesday, October 1st. Morgan Stanley lowered their price target 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, October 10th. Bank of America boosted their price objective on shares of Pfizer from $28.00 to $30.00 and gave the company a “neutral” rating in a research note on Friday, October 3rd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Pfizer in a research note on Wednesday, October 8th. Finally, Sanford C. Bernstein reaffirmed a “market perform” rating and set a $30.00 price objective on shares of Pfizer in a research note on Friday. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $28.24.

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.