Scotia Capital Inc. Buys 18,981 Shares of Pfizer Inc. $PFE

Scotia Capital Inc. grew its stake in Pfizer Inc. (NYSE:PFE) by 2.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 788,563 shares of the biopharmaceutical company’s stock after buying an additional 18,981 shares during the period. Scotia Capital Inc.’s holdings in Pfizer were worth $19,113,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Patrick M Sweeney & Associates Inc. boosted its position in Pfizer by 18.4% during the second quarter. Patrick M Sweeney & Associates Inc. now owns 135,932 shares of the biopharmaceutical company’s stock worth $3,450,000 after purchasing an additional 21,114 shares during the period. Clarkston Capital Partners LLC lifted its stake in shares of Pfizer by 22.5% in the second quarter. Clarkston Capital Partners LLC now owns 81,688 shares of the biopharmaceutical company’s stock worth $1,980,000 after buying an additional 15,000 shares during the last quarter. Johnson Financial Group Inc. boosted its holdings in shares of Pfizer by 40.5% during the 2nd quarter. Johnson Financial Group Inc. now owns 121,497 shares of the biopharmaceutical company’s stock worth $2,945,000 after buying an additional 35,003 shares during the period. Korea Investment CORP grew its stake in Pfizer by 20.6% in the 2nd quarter. Korea Investment CORP now owns 4,487,561 shares of the biopharmaceutical company’s stock valued at $108,778,000 after buying an additional 767,323 shares during the last quarter. Finally, Sumitomo Mitsui Financial Group Inc. raised its holdings in Pfizer by 10.1% in the 2nd quarter. Sumitomo Mitsui Financial Group Inc. now owns 124,200 shares of the biopharmaceutical company’s stock worth $3,011,000 after acquiring an additional 11,345 shares during the period. 68.36% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on PFE. Wall Street Zen downgraded Pfizer from a “buy” rating to a “hold” rating in a research report on Sunday, September 28th. Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $30.00 target price on shares of Pfizer in a report on Friday, October 31st. Citigroup lifted their price target on Pfizer from $25.00 to $26.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 6th. UBS Group reissued a “neutral” rating and issued a $28.00 price objective on shares of Pfizer in a research report on Wednesday, October 1st. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and set a $26.00 target price on shares of Pfizer in a research report on Wednesday, November 5th. Two equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $28.39.

Pfizer Price Performance

Shares of PFE stock opened at $25.76 on Friday. Pfizer Inc. has a 12 month low of $20.92 and a 12 month high of $27.69. The company has a market capitalization of $146.46 billion, a P/E ratio of 13.70, a P/E/G ratio of 0.81 and a beta of 0.54. The stock has a 50 day moving average of $25.01 and a two-hundred day moving average of $24.57. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.65.

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

Pfizer Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Friday, November 7th will be issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 6.7%. The ex-dividend date of this dividend is Friday, November 7th. Pfizer’s dividend payout ratio (DPR) is presently 100.00%.

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.