OVERSEA CHINESE BANKING Corp Ltd Raises Stake in Pfizer Inc. $PFE

OVERSEA CHINESE BANKING Corp Ltd increased its stake in Pfizer Inc. (NYSE:PFE) by 229.4% during the second quarter, according to its most recent filing with the SEC. The fund owned 48,640 shares of the biopharmaceutical company’s stock after buying an additional 33,875 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Pfizer were worth $1,179,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Solstein Capital LLC raised its stake in Pfizer by 33.4% in the 2nd quarter. Solstein Capital LLC now owns 5,073 shares of the biopharmaceutical company’s stock valued at $123,000 after acquiring an additional 1,270 shares during the period. Delta Investment Management LLC raised its stake in Pfizer by 6.7% in the 2nd quarter. Delta Investment Management LLC now owns 9,775 shares of the biopharmaceutical company’s stock valued at $237,000 after acquiring an additional 618 shares during the period. Envestnet Asset Management Inc. raised its stake in Pfizer by 7.6% in the 2nd quarter. Envestnet Asset Management Inc. now owns 11,195,080 shares of the biopharmaceutical company’s stock valued at $271,368,000 after acquiring an additional 792,967 shares during the period. Resonant Capital Advisors LLC raised its stake in Pfizer by 5.3% in the 2nd quarter. Resonant Capital Advisors LLC now owns 117,214 shares of the biopharmaceutical company’s stock valued at $2,841,000 after acquiring an additional 5,950 shares during the period. Finally, Hixon Zuercher LLC raised its stake in Pfizer by 3.5% in the 2nd quarter. Hixon Zuercher LLC now owns 83,649 shares of the biopharmaceutical company’s stock valued at $2,028,000 after acquiring an additional 2,866 shares during the period. 68.36% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on PFE. UBS Group restated a “neutral” rating and issued a $28.00 price objective on shares of Pfizer in a research note on Wednesday, October 1st. Weiss Ratings reiterated a “hold (c-)” rating on shares of Pfizer in a research report on Wednesday, October 8th. Citigroup upped their price target on Pfizer from $25.00 to $26.00 and gave the company a “neutral” rating in a research report on Wednesday, August 6th. Bank of America upped their price target on Pfizer from $28.00 to $30.00 and gave the company a “neutral” rating in a research report on Friday, October 3rd. Finally, Morgan Stanley decreased their price target on Pfizer from $33.00 to $32.00 and set an “equal weight” rating on the stock in a research report on Friday, October 10th. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $28.13.

Pfizer Stock Down 0.0%

PFE stock opened at $24.76 on Tuesday. 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 company’s 50 day moving average is $24.86 and its 200 day moving average is $24.21. The stock has a market cap of $140.75 billion, a price-to-earnings ratio of 13.17, a price-to-earnings-growth ratio of 0.82 and a beta of 0.55. Pfizer Inc. has a 1-year low of $20.92 and a 1-year high of $29.17.

Pfizer (NYSE:PFE) last posted its quarterly earnings data on Tuesday, August 5th. The biopharmaceutical company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.20. The company 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%. Pfizer’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.60 earnings per share. Pfizer has set its FY 2025 guidance at 2.900-3.100 EPS. Sell-side analysts predict that Pfizer Inc. will post 2.95 EPS for the current fiscal year.

Pfizer Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 7th will be given a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 6.9%. The ex-dividend date is Friday, November 7th. Pfizer’s dividend payout ratio is 91.49%.

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.