Conning Inc. Sells 1,596 Shares of Pfizer Inc. $PFE

Conning Inc. trimmed its holdings in shares of Pfizer Inc. (NYSE:PFE) by 2.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 68,870 shares of the biopharmaceutical company’s stock after selling 1,596 shares during the period. Conning Inc.’s holdings in Pfizer were worth $1,669,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. GKV Capital Management Co. Inc. bought a new stake in shares of Pfizer in the 1st quarter valued at about $27,000. North Capital Inc. bought a new stake in shares of Pfizer in the 1st quarter valued at about $28,000. Bayforest Capital Ltd bought a new stake in shares of Pfizer in the 1st quarter valued at about $28,000. Horizon Financial Services LLC bought a new stake in shares of Pfizer in the 1st quarter valued at about $35,000. Finally, WPG Advisers LLC bought a new stake in shares of Pfizer in the 1st quarter valued at about $35,000. 68.36% of the stock is currently owned by institutional investors.

Pfizer Stock Performance

PFE opened at $24.81 on Friday. Pfizer Inc. has a 12-month low of $20.92 and a 12-month high of $29.82. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.65. The firm 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. The firm has a 50 day moving average of $24.86 and a two-hundred day moving average of $24.14.

Pfizer (NYSE:PFE) last posted its quarterly earnings results on Tuesday, August 5th. The biopharmaceutical company reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $13.43 billion. During the same period last year, the firm posted $0.60 EPS. Pfizer’s revenue for the quarter was up 10.3% compared to the same quarter last year. Pfizer has set its FY 2025 guidance at 2.900-3.100 EPS. On average, analysts anticipate that Pfizer Inc. will post 2.95 EPS for the current year.

Pfizer Dividend Announcement

The company 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 dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 6.9%. The ex-dividend date of this dividend is Friday, November 7th. Pfizer’s payout ratio is 91.49%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on PFE shares. Citigroup raised their price target on shares of Pfizer from $25.00 to $26.00 and gave the company a “neutral” rating in a report on Wednesday, August 6th. Morgan Stanley lowered their target price on shares of Pfizer from $33.00 to $32.00 and set an “equal weight” rating for the company in a research note on Friday. UBS Group reiterated a “neutral” rating and issued a $28.00 target price on shares of Pfizer in a research note on Wednesday, October 1st. Wall Street Zen cut shares of Pfizer from a “buy” rating to a “hold” rating in a research note on Sunday, September 28th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Pfizer in a research note on Wednesday. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Pfizer currently has an average rating of “Hold” and an average target price of $28.35.

Pfizer 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.