California State Teachers Retirement System lowered its position in Pfizer Inc. (NYSE:PFE - Free Report) by 2.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,150,507 shares of the biopharmaceutical company's stock after selling 198,520 shares during the quarter. California State Teachers Retirement System owned about 0.16% of Pfizer worth $242,763,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Pfizer by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 518,535,151 shares of the biopharmaceutical company's stock valued at $13,756,738,000 after acquiring an additional 2,285,276 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Pfizer by 19.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 155,459,101 shares of the biopharmaceutical company's stock valued at $4,124,330,000 after acquiring an additional 25,315,159 shares during the period. Geode Capital Management LLC raised its stake in shares of Pfizer by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 120,589,782 shares of the biopharmaceutical company's stock valued at $3,190,131,000 after acquiring an additional 2,923,537 shares during the period. Norges Bank purchased a new stake in shares of Pfizer in the fourth quarter valued at $2,328,986,000. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of Pfizer by 7.5% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 76,502,238 shares of the biopharmaceutical company's stock valued at $2,029,604,000 after acquiring an additional 5,350,381 shares during the period. Hedge funds and other institutional investors own 68.36% of the company's stock.
Wall Street Analysts Forecast Growth
PFE has been the topic of a number of research analyst reports. UBS Group cut their price target on shares of Pfizer from $28.00 to $24.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. The Goldman Sachs Group restated a "neutral" rating and issued a $25.00 price target (down from $32.00) on shares of Pfizer in a report on Tuesday, April 8th. Citigroup restated a "neutral" rating on shares of Pfizer in a report on Thursday, March 27th. Guggenheim restated a "buy" rating on shares of Pfizer in a report on Tuesday, March 18th. Finally, Hsbc Global Res upgraded shares of Pfizer to a "strong-buy" rating in a report on Monday, March 10th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, five have assigned a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $29.57.
Check Out Our Latest Analysis on PFE
Pfizer Stock Performance
Shares of PFE stock opened at $22.95 on Monday. The business's fifty day simple moving average is $24.58 and its 200-day simple moving average is $25.92. The company has a market cap of $130.16 billion, a PE ratio of 16.28, a PEG ratio of 0.64 and a beta of 0.67. The company has a current ratio of 1.00, a quick ratio of 0.73 and a debt-to-equity ratio of 0.63. Pfizer Inc. has a 12-month low of $20.92 and a 12-month high of $31.54.
Pfizer (NYSE:PFE - Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The biopharmaceutical company reported $0.63 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.48 by $0.15. The business had revenue of $17.76 billion for the quarter, compared to the consensus estimate of $17.26 billion. Pfizer had a return on equity of 19.47% and a net margin of 12.62%. The business's quarterly revenue was up 24.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.10 earnings per share. Analysts expect that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.
Pfizer Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 9th will be given a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 7.49%. The ex-dividend date is Friday, May 9th. Pfizer's payout ratio is 121.99%.
Insider Buying and Selling
In other news, Director Ronald E. Blaylock bought 19,457 shares of Pfizer stock in a transaction that occurred on Thursday, February 13th. The stock was bought at an average price of $25.65 per share, for a total transaction of $499,072.05. Following the purchase, the director now directly owns 27,707 shares of the company's stock, valued at approximately $710,684.55. The trade was a 235.84 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.06% of the stock is currently owned by company insiders.
Pfizer Profile
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Free Report)
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.
See Also
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This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
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