Sumitomo Life Insurance Co. Has $1.18 Million Stock Position in Pfizer Inc. $PFE

Sumitomo Life Insurance Co. reduced its holdings in Pfizer Inc. (NYSE:PFE) by 5.5% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 48,673 shares of the biopharmaceutical company’s stock after selling 2,829 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in Pfizer were worth $1,180,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PFE. Vanguard Group Inc. increased its position in shares of Pfizer by 0.9% during the first quarter. Vanguard Group Inc. now owns 523,165,127 shares of the biopharmaceutical company’s stock worth $13,257,004,000 after buying an additional 4,629,976 shares during the period. Northern Trust Corp increased its position in shares of Pfizer by 6.8% during the first quarter. Northern Trust Corp now owns 62,325,957 shares of the biopharmaceutical company’s stock worth $1,579,340,000 after buying an additional 3,943,397 shares during the period. Amundi increased its position in shares of Pfizer by 43.4% during the first quarter. Amundi now owns 52,090,403 shares of the biopharmaceutical company’s stock worth $1,265,277,000 after buying an additional 15,758,846 shares during the period. Invesco Ltd. increased its position in shares of Pfizer by 2.8% during the first quarter. Invesco Ltd. now owns 30,296,337 shares of the biopharmaceutical company’s stock worth $767,709,000 after buying an additional 838,198 shares during the period. Finally, Deutsche Bank AG increased its position in shares of Pfizer by 7.0% during the first quarter. Deutsche Bank AG now owns 28,239,197 shares of the biopharmaceutical company’s stock worth $715,581,000 after buying an additional 1,846,436 shares during the period. 68.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently weighed in on PFE. Weiss Ratings reiterated a “hold (c-)” rating on shares of Pfizer in a research report on Wednesday, October 8th. Sanford C. Bernstein reiterated a “market perform” rating and set a $30.00 price objective on shares of Pfizer in a research report on Friday. Bank of America raised their price target on shares of Pfizer from $28.00 to $30.00 and gave the stock a “neutral” rating in a report on Friday, October 3rd. Morgan Stanley reduced their price target on shares of Pfizer from $33.00 to $32.00 and set an “equal weight” rating for the company in a report on Friday, October 10th. Finally, Citigroup raised their price target on shares of Pfizer from $25.00 to $26.00 and gave the stock a “neutral” rating in a report on Wednesday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Pfizer has an average rating of “Hold” and an average price target of $28.24.

Pfizer Stock Up 1.6%

Pfizer stock opened at $24.68 on Monday. Pfizer Inc. has a 1-year low of $20.92 and a 1-year high of $28.64. The firm has a market capitalization of $140.29 billion, a price-to-earnings ratio of 13.13, a price-to-earnings-growth ratio of 0.81 and a beta of 0.55. The firm’s fifty day moving average price is $24.77 and its two-hundred day moving average price is $24.30. 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 released its quarterly earnings data on Tuesday, August 5th. The biopharmaceutical company reported $0.78 earnings per share for the quarter, beating 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 firm had revenue of $14.65 billion for the quarter, compared to analyst estimates of $13.43 billion. During the same period last year, the firm earned $0.60 earnings per share. The business’s quarterly revenue 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, equities research analysts predict that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.

Pfizer Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Friday, November 7th will be paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 7.0%. The ex-dividend date of this dividend is Friday, November 7th. Pfizer’s dividend payout ratio (DPR) 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.