Summit X LLC Decreases Holdings in Pfizer Inc. $PFE

Summit X LLC lowered its stake in Pfizer Inc. (NYSE:PFE) by 48.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,084 shares of the biopharmaceutical company’s stock after selling 13,458 shares during the period. Summit X LLC’s holdings in Pfizer were worth $341,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. GKV Capital Management Co. Inc. purchased a new stake in Pfizer during the 1st quarter valued at $27,000. Curio Wealth LLC increased its position in Pfizer by 36,600.0% during the second quarter. Curio Wealth LLC now owns 1,101 shares of the biopharmaceutical company’s stock valued at $27,000 after acquiring an additional 1,098 shares during the last quarter. Bayforest Capital Ltd purchased a new stake in shares of Pfizer in the first quarter valued at $28,000. Harbor Asset Planning Inc. bought a new stake in shares of Pfizer in the 2nd quarter worth about $29,000. Finally, WPG Advisers LLC purchased a new position in shares of Pfizer during the 1st quarter worth about $35,000. 68.36% of the stock is currently owned by hedge funds and other institutional investors.

Pfizer Trading Down 1.6%

Shares of NYSE PFE opened at $24.45 on Monday. Pfizer Inc. has a 1-year low of $20.92 and a 1-year high of $27.69. The business has a fifty day moving average price of $24.74 and a 200 day moving average price of $24.38. The stock has a market capitalization of $138.99 billion, a P/E ratio of 13.00, a price-to-earnings-growth ratio of 0.81 and a beta of 0.54. 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, November 4th. The biopharmaceutical company reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.08. Pfizer had a net margin of 16.84% and a return on equity of 21.42%. The business had revenue of $16.65 billion during the quarter, compared to the consensus estimate of $16.94 billion. Pfizer has set its FY 2025 guidance at 3.000-3.150 EPS. Equities research analysts expect that Pfizer Inc. will post 2.95 EPS for the current fiscal year.

Pfizer Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Friday, November 7th will be issued a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 7.0%. The ex-dividend date of this dividend is Friday, November 7th. Pfizer’s dividend payout ratio is presently 100.00%.

Analysts Set New Price Targets

Several brokerages have issued reports on PFE. Morgan Stanley decreased their price objective 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, October 10th. Wall Street Zen lowered Pfizer from a “buy” rating to a “hold” rating in a research note on Sunday, September 28th. Bank of America upped their price objective on Pfizer from $28.00 to $30.00 and gave the company a “neutral” rating in a research report on Friday, October 3rd. The Goldman Sachs Group reiterated a “neutral” rating and set a $26.00 target price on shares of Pfizer in a research report on Wednesday. Finally, Sanford C. Bernstein restated a “market perform” rating and issued a $30.00 price target on shares of Pfizer in a report on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $28.18.

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.