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

Letko Brosseau & Associates Inc. raised its holdings in shares of Pfizer Inc. (NYSE:PFE) by 3.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,985,888 shares of the biopharmaceutical company’s stock after purchasing an additional 138,300 shares during the quarter. Pfizer accounts for approximately 1.8% of Letko Brosseau & Associates Inc.’s portfolio, making the stock its 19th largest position. Letko Brosseau & Associates Inc. owned about 0.07% of Pfizer worth $96,618,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in PFE. Westbourne Investments Inc. bought a new stake in Pfizer in the 1st quarter worth approximately $2,411,000. Bourne Lent Asset Management Inc. lifted its holdings in shares of Pfizer by 90.8% in the 2nd quarter. Bourne Lent Asset Management Inc. now owns 38,255 shares of the biopharmaceutical company’s stock worth $927,000 after acquiring an additional 18,200 shares during the last quarter. Strs Ohio purchased a new stake in shares of Pfizer in the 1st quarter valued at $49,968,000. IFM Investors Pty Ltd grew its holdings in shares of Pfizer by 3.8% during the 2nd quarter. IFM Investors Pty Ltd now owns 1,127,143 shares of the biopharmaceutical company’s stock valued at $27,322,000 after purchasing an additional 41,263 shares during the last quarter. Finally, Intrua Financial LLC grew its holdings in shares of Pfizer by 17.4% during the 1st quarter. Intrua Financial LLC now owns 78,392 shares of the biopharmaceutical company’s stock valued at $1,986,000 after purchasing an additional 11,643 shares during the last quarter. 68.36% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on PFE shares. Weiss Ratings restated a “hold (c-)” rating on shares of Pfizer in a research report on Wednesday, October 8th. Scotiabank began coverage on Pfizer in a research note on Thursday. They issued a “sector outperform” rating and a $30.00 target price for the company. The Goldman Sachs Group restated a “neutral” rating and set a $26.00 price target on shares of Pfizer in a research report on Wednesday, November 5th. UBS Group reiterated a “neutral” rating and issued a $28.00 price objective on shares of Pfizer in a research report on Wednesday, October 1st. Finally, Bank of America raised their target price on shares of Pfizer from $28.00 to $30.00 and gave the stock a “neutral” rating in a report on Friday, October 3rd. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Pfizer has an average rating of “Hold” and an average target price of $28.28.

Pfizer Stock Performance

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. Pfizer Inc. has a twelve month low of $20.92 and a twelve month high of $27.69. The stock has a market cap of $142.57 billion, a P/E ratio of 13.34, a price-to-earnings-growth ratio of 0.81 and a beta of 0.54. The firm’s fifty day simple moving average is $24.80 and its 200 day simple moving average is $24.45.

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

Pfizer Dividend Announcement

The company 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 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 yield of 6.9%. Pfizer’s dividend payout ratio (DPR) is currently 100.00%.

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.