PGGM Investments Lowers Position in Pfizer Inc. (NYSE:PFE)

PGGM Investments lowered its holdings in Pfizer Inc. (NYSE:PFE) by 34.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 95,854 shares of the biopharmaceutical company’s stock after selling 50,565 shares during the period. PGGM Investments’ holdings in Pfizer were worth $2,760,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of PFE. Charles Schwab Investment Management Inc. raised its holdings in shares of Pfizer by 10.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 95,772,746 shares of the biopharmaceutical company’s stock valued at $3,161,261,000 after acquiring an additional 9,393,992 shares in the last quarter. Invesco Ltd. increased its position in shares of Pfizer by 30.9% during the 3rd quarter. Invesco Ltd. now owns 24,054,896 shares of the biopharmaceutical company’s stock valued at $797,901,000 after purchasing an additional 5,678,004 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Pfizer by 9.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 60,207,521 shares of the biopharmaceutical company’s stock valued at $1,997,083,000 after purchasing an additional 5,185,453 shares during the last quarter. Bank of Nova Scotia increased its position in shares of Pfizer by 219.4% during the 3rd quarter. Bank of Nova Scotia now owns 5,503,983 shares of the biopharmaceutical company’s stock valued at $182,567,000 after purchasing an additional 3,780,696 shares during the last quarter. Finally, Canada Pension Plan Investment Board increased its position in shares of Pfizer by 38.9% during the 3rd quarter. Canada Pension Plan Investment Board now owns 10,028,940 shares of the biopharmaceutical company’s stock valued at $332,660,000 after purchasing an additional 2,807,846 shares during the last quarter. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Analyst Ratings Changes

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

Pfizer Trading Up 0.6 %

PFE opened at $25.40 on Monday. The stock has a market cap of $143.83 billion, a PE ratio of 70.56, a PEG ratio of 1.14 and a beta of 0.61. The company has a quick ratio of 0.69, a current ratio of 0.91 and a debt-to-equity ratio of 0.69. The business has a 50 day moving average of $26.96 and a 200-day moving average of $28.36. Pfizer Inc. has a 52 week low of $25.20 and a 52 week high of $40.37.

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

Pfizer Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 10th will be issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 6.61%. The ex-dividend date of this dividend is Thursday, May 9th. Pfizer’s payout ratio is 466.67%.

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.