Pfizer Inc. (NYSE:PFE) Stock Position Cut by Public Sector Pension Investment Board

Public Sector Pension Investment Board trimmed its stake in shares of Pfizer Inc. (NYSE:PFE) by 49.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 820,365 shares of the biopharmaceutical company’s stock after selling 804,620 shares during the quarter. Public Sector Pension Investment Board’s holdings in Pfizer were worth $22,954,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Gilbert & Cook Inc. lifted its stake in Pfizer by 3.8% during the fourth quarter. Gilbert & Cook Inc. now owns 25,651 shares of the biopharmaceutical company’s stock valued at $738,000 after buying an additional 945 shares in the last quarter. Gryphon Financial Partners LLC boosted its stake in Pfizer by 43.7% in the 4th quarter. Gryphon Financial Partners LLC now owns 26,942 shares of the biopharmaceutical company’s stock worth $861,000 after purchasing an additional 8,194 shares during the period. Quest Partners LLC purchased a new position in Pfizer during the 4th quarter worth approximately $186,000. Congress Wealth Management LLC DE raised its stake in Pfizer by 48.7% during the 4th quarter. Congress Wealth Management LLC DE now owns 60,134 shares of the biopharmaceutical company’s stock valued at $1,731,000 after purchasing an additional 19,687 shares during the period. Finally, Cape Investment Advisory Inc. lifted its holdings in shares of Pfizer by 5.6% in the fourth quarter. Cape Investment Advisory Inc. now owns 8,603 shares of the biopharmaceutical company’s stock valued at $248,000 after purchasing an additional 459 shares in the last quarter. 68.36% of the stock is owned by institutional investors and hedge funds.

Pfizer Stock Performance

NYSE:PFE opened at $29.42 on Monday. The firm’s fifty day simple moving average is $29.36 and its 200 day simple moving average is $28.24. The company has a current ratio of 0.86, a quick ratio of 0.60 and a debt-to-equity ratio of 0.65. Pfizer Inc. has a 1 year low of $25.20 and a 1 year high of $34.11. The firm has a market capitalization of $166.71 billion, a PE ratio of -490.25, a PEG ratio of 1.05 and a beta of 0.68.

Pfizer (NYSE:PFE) last issued its earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.46 by $0.14. The firm had revenue of $13.28 billion during the quarter, compared to analysts’ expectations of $12.96 billion. Pfizer had a positive return on equity of 8.42% and a negative net margin of 4.66%. Pfizer’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period last year, the business earned $0.67 earnings per share. On average, sell-side analysts anticipate that Pfizer Inc. will post 2.66 EPS for the current year.

Pfizer Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, July 26th were given a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 5.71%. The ex-dividend date was Friday, July 26th. Pfizer’s dividend payout ratio (DPR) is presently -2,799.53%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on PFE. Wells Fargo & Company upped their price target on Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 31st. Barclays increased their price target on shares of Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 31st. Daiwa America raised shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. StockNews.com upgraded shares of Pfizer from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $45.00 target price on shares of Pfizer in a research note on Monday, September 16th. Eight investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $34.54.

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.