Pfizer Inc. (NYSE:PFE) Shares Sold by Alaska Permanent Fund Corp

Alaska Permanent Fund Corp cut its holdings in shares of Pfizer Inc. (NYSE:PFE) by 57.7% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 105,655 shares of the biopharmaceutical company’s stock after selling 143,868 shares during the period. Alaska Permanent Fund Corp’s holdings in Pfizer were worth $3,042,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Charles Schwab Investment Management Inc. boosted its position in shares of Pfizer by 10.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 95,772,746 shares of the biopharmaceutical company’s stock worth $3,161,261,000 after buying an additional 9,393,992 shares during the period. Morgan Stanley boosted its position in shares of Pfizer by 0.4% during the third quarter. Morgan Stanley now owns 84,927,802 shares of the biopharmaceutical company’s stock worth $2,817,055,000 after buying an additional 348,628 shares during the period. Massachusetts Financial Services Co. MA boosted its position in shares of Pfizer by 9.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 60,207,521 shares of the biopharmaceutical company’s stock worth $1,997,083,000 after buying an additional 5,185,453 shares during the period. Invesco Ltd. boosted its position in shares of Pfizer by 30.9% during the third quarter. Invesco Ltd. now owns 24,054,896 shares of the biopharmaceutical company’s stock worth $797,901,000 after buying an additional 5,678,004 shares during the period. Finally, California Public Employees Retirement System raised its holdings in Pfizer by 0.6% during the third quarter. California Public Employees Retirement System now owns 18,380,833 shares of the biopharmaceutical company’s stock worth $609,692,000 after purchasing an additional 101,256 shares in the last quarter. 68.36% of the stock is currently owned by institutional investors and hedge funds.

Pfizer Price Performance

Shares of NYSE PFE traded down $0.06 during trading on Wednesday, hitting $26.26. The company had a trading volume of 23,484,280 shares, compared to its average volume of 41,873,867. Pfizer Inc. has a 52 week low of $25.23 and a 52 week high of $40.37. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.69 and a current ratio of 0.91. The company has a market cap of $148.70 billion, a P/E ratio of 72.97, a PEG ratio of 1.18 and a beta of 0.61. The business’s 50-day moving average is $27.07 and its 200 day moving average is $28.52.

Pfizer (NYSE:PFE) last posted its quarterly earnings data on Tuesday, January 30th. The biopharmaceutical company reported $0.10 earnings per share for the quarter, topping the consensus estimate of ($0.19) by $0.29. Pfizer had a net margin of 3.62% and a return on equity of 10.88%. The firm had revenue of $14.25 billion for the quarter, compared to analysts’ expectations of $14.37 billion. During the same period in the previous year, the company posted $1.14 EPS. The company’s quarterly revenue was down 41.3% compared to the same quarter last year. Equities research analysts predict that Pfizer Inc. will post 2.24 earnings per share for the current fiscal year.

Pfizer Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 10th will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 6.40%. Pfizer’s dividend payout ratio is currently 466.67%.

Analysts Set New Price Targets

Several brokerages recently commented on PFE. Cantor Fitzgerald reissued an “overweight” rating and set a $45.00 target price on shares of Pfizer in a report on Monday, April 15th. Argus cut Pfizer from a “buy” rating to a “hold” rating in a report on Friday, March 22nd. Guggenheim began coverage on Pfizer in a report on Friday, February 23rd. They set a “buy” rating and a $36.00 target price on the stock. Finally, TD Cowen cut Pfizer from an “outperform” rating to a “market perform” rating and set a $32.00 target price on the stock. in a report on Thursday, January 4th. Eleven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $36.33.

Pfizer Company 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.