Spinnaker Trust Lowers Holdings in Pfizer Inc. $PFE

Spinnaker Trust decreased its holdings in Pfizer Inc. (NYSE:PFE) by 1.4% in the 2nd quarter, HoldingsChannel reports. The firm owned 101,083 shares of the biopharmaceutical company’s stock after selling 1,432 shares during the quarter. Spinnaker Trust’s holdings in Pfizer were worth $2,450,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Capital Advisors Inc. OK lifted its stake in Pfizer by 1.2% in the first quarter. Capital Advisors Inc. OK now owns 1,413,472 shares of the biopharmaceutical company’s stock worth $35,817,000 after acquiring an additional 17,032 shares during the last quarter. Westbourne Investments Inc. purchased a new position in Pfizer in the first quarter worth approximately $2,411,000. Bourne Lent Asset Management Inc. lifted its stake in Pfizer by 90.8% in the second 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 position in Pfizer in the first quarter worth approximately $49,968,000. Finally, IFM Investors Pty Ltd lifted its stake in Pfizer by 3.8% in the second quarter. IFM Investors Pty Ltd now owns 1,127,143 shares of the biopharmaceutical company’s stock worth $27,322,000 after acquiring an additional 41,263 shares during the last quarter. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Pfizer Stock Performance

Shares of Pfizer stock opened at $24.32 on Thursday. The firm’s fifty day simple moving average is $24.82 and its 200-day simple moving average is $24.25. The stock has a market capitalization of $138.26 billion, a price-to-earnings ratio of 12.94, a PEG ratio of 0.81 and a beta of 0.55. Pfizer Inc. has a 12 month low of $20.92 and a 12 month high of $28.64. 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 announced its earnings results on Tuesday, August 5th. The biopharmaceutical company reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.20. The business had revenue of $14.65 billion for the quarter, compared to analysts’ expectations of $13.43 billion. Pfizer had a net margin of 16.84% and a return on equity of 21.42%. The company’s quarterly revenue was up 10.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.60 EPS. Pfizer has set its FY 2025 guidance at 2.900-3.100 EPS. As a group, equities analysts forecast that Pfizer Inc. will post 2.95 earnings per share for the current year.

Pfizer Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Friday, November 7th will be issued a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 7.1%. The ex-dividend date of this dividend is Friday, November 7th. Pfizer’s payout ratio is presently 91.49%.

Analyst Ratings Changes

A number of brokerages recently issued reports 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. Weiss Ratings restated a “hold (c-)” rating on shares of Pfizer in a research report on Wednesday, October 8th. Bank of America boosted their price objective on shares of Pfizer from $28.00 to $30.00 and gave the stock a “neutral” rating in a research report on Friday, October 3rd. UBS Group restated a “neutral” rating and set a $28.00 price objective on shares of Pfizer in a research report on Wednesday, October 1st. Finally, Citigroup boosted their price objective on shares of Pfizer from $25.00 to $26.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 6th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Pfizer has a consensus rating of “Hold” and an average target price of $28.13.

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.