Conning Inc. Decreases Stock Holdings in Pfizer Inc. $PFE

Conning Inc. decreased its holdings in shares of Pfizer Inc. (NYSE:PFE) by 2.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 68,870 shares of the biopharmaceutical company’s stock after selling 1,596 shares during the quarter. Conning Inc.’s holdings in Pfizer were worth $1,669,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of PFE. GKV Capital Management Co. Inc. purchased a new stake in shares of Pfizer in the first quarter valued at $27,000. Bayforest Capital Ltd purchased a new stake in shares of Pfizer in the first quarter valued at $28,000. North Capital Inc. purchased a new stake in shares of Pfizer in the first quarter valued at $28,000. WPG Advisers LLC purchased a new stake in shares of Pfizer in the first quarter valued at $35,000. Finally, Horizon Financial Services LLC purchased a new stake in shares of Pfizer in the first quarter valued at $35,000. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Pfizer Trading Down 1.7%

PFE stock opened at $24.81 on Friday. The company has a market capitalization of $141.03 billion, a PE ratio of 13.19, a P/E/G ratio of 0.83 and a beta of 0.55. Pfizer Inc. has a 12 month low of $20.92 and a 12 month high of $29.82. The firm’s 50-day moving average is $24.86 and its 200 day moving average is $24.14. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.16 and a quick ratio of 0.85.

Pfizer (NYSE:PFE) last issued its earnings results on Tuesday, August 5th. The biopharmaceutical company reported $0.78 earnings per share (EPS) for the quarter, topping 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 company had revenue of $14.65 billion for the quarter, compared to analysts’ expectations of $13.43 billion. During the same period in the prior year, the business earned $0.60 EPS. The firm’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. On average, research analysts anticipate that Pfizer Inc. will post 2.95 EPS for the current year.

Pfizer Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Friday, November 7th will be issued a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 6.9%. The ex-dividend date is Friday, November 7th. Pfizer’s dividend payout ratio is presently 91.49%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on PFE. Wall Street Zen downgraded shares of Pfizer from a “buy” rating to a “hold” rating in a research note on Sunday, September 28th. Bank of America increased their target price 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. Citigroup increased their target price on shares of Pfizer from $25.00 to $26.00 and gave the company a “neutral” rating in a research note on Wednesday, August 6th. Weiss Ratings reissued a “hold (c-)” rating on shares of Pfizer in a research note on Wednesday. Finally, UBS Group reaffirmed a “neutral” rating and issued a $28.00 price target on shares of Pfizer in a research note on Wednesday, October 1st. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Pfizer presently has an average rating of “Hold” and a consensus target price of $28.35.

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.