State of Michigan Retirement System Buys 600 Shares of Pfizer Inc. (NYSE:PFE)

State of Michigan Retirement System lifted its stake in shares of Pfizer Inc. (NYSE:PFE) by 0.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,406,026 shares of the biopharmaceutical company’s stock after purchasing an additional 600 shares during the quarter. State of Michigan Retirement System’s holdings in Pfizer were worth $50,519,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently made changes to their positions in PFE. Weybosset Research & Management LLC boosted its position in Pfizer by 2.0% during the 2nd quarter. Weybosset Research & Management LLC now owns 12,847 shares of the biopharmaceutical company’s stock worth $557,000 after buying an additional 250 shares during the period. Financial Gravity Wealth Inc. lifted its position in shares of Pfizer by 33.2% in the 2nd quarter. Financial Gravity Wealth Inc. now owns 1,031 shares of the biopharmaceutical company’s stock worth $45,000 after purchasing an additional 257 shares during the period. Intl Fcstone Inc. lifted its position in shares of Pfizer by 2.4% in the 2nd quarter. Intl Fcstone Inc. now owns 11,140 shares of the biopharmaceutical company’s stock worth $483,000 after purchasing an additional 261 shares during the period. Lee Financial Co lifted its position in shares of Pfizer by 6.2% in the 2nd quarter. Lee Financial Co now owns 4,569 shares of the biopharmaceutical company’s stock worth $198,000 after purchasing an additional 265 shares during the period. Finally, Keystone Financial Group lifted its position in shares of Pfizer by 1.8% in the 2nd quarter. Keystone Financial Group now owns 15,532 shares of the biopharmaceutical company’s stock worth $673,000 after purchasing an additional 278 shares during the period. 71.66% of the stock is currently owned by institutional investors.

A number of brokerages have recently issued reports on PFE. UBS Group restated a “neutral” rating and issued a $43.00 price target on shares of Pfizer in a research report on Monday, August 5th. ValuEngine upgraded shares of Pfizer from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. DZ Bank upgraded shares of Pfizer from a “sell” rating to a “hold” rating and set a $36.00 price target on the stock in a research report on Wednesday, August 28th. Zacks Investment Research upgraded shares of Pfizer from a “sell” rating to a “strong-buy” rating and set a $38.00 price target on the stock in a research report on Tuesday, October 1st. Finally, Morgan Stanley dropped their price target on shares of Pfizer from $40.00 to $38.00 and set an “equal weight” rating on the stock in a research report on Tuesday, August 27th. Twelve investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $44.47.

Shares of Pfizer stock traded up $0.24 during trading on Wednesday, reaching $36.67. 590,701 shares of the company traded hands, compared to its average volume of 15,835,454. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.47 and a quick ratio of 1.21. Pfizer Inc. has a 1-year low of $33.97 and a 1-year high of $46.47. The company has a 50 day moving average price of $36.28 and a 200-day moving average price of $39.61. The firm has a market capitalization of $201.66 billion, a PE ratio of 12.23, a P/E/G ratio of 2.16 and a beta of 0.66.

Pfizer (NYSE:PFE) last released its earnings results on Monday, July 29th. The biopharmaceutical company reported $0.80 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.75 by $0.05. Pfizer had a net margin of 23.58% and a return on equity of 28.10%. The company had revenue of $13.26 billion for the quarter, compared to the consensus estimate of $13.43 billion. During the same quarter in the previous year, the company earned $0.77 EPS. Pfizer’s quarterly revenue was down 1.5% compared to the same quarter last year. Equities research analysts expect that Pfizer Inc. will post 2.82 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 8th will be given a dividend of $0.36 per share. The ex-dividend date is Thursday, November 7th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.93%. Pfizer’s payout ratio is presently 48.00%.

In other Pfizer news, Director Scott Gottlieb purchased 3,000 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was acquired at an average price of $34.72 per share, for a total transaction of $104,160.00. Following the purchase, the director now owns 3,000 shares of the company’s stock, valued at approximately $104,160. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Pfizer Inc purchased 50,000 shares of the firm’s stock in a transaction on Tuesday, September 17th. The shares were acquired at an average price of $18.00 per share, with a total value of $900,000.00. The disclosure for this purchase can be found here. 0.09% of the stock is owned by insiders.

Pfizer Company Profile

Pfizer Inc discovers, develops, manufactures, and sells healthcare products worldwide. It offers medicines and vaccines in various therapeutic areas, including internal medicine, vaccines, oncology, inflammation and immunology, and rare diseases under the Lyrica, Chantix/Champix, Eliquis, Ibrance, Sutent, Xalkori, Inlyta, Xtandi, Enbrel, Xeljanz, Eucrisa, BeneFix, Genotropin, and Refacto AF/Xyntha brands.

See Also: What is the Rule of 72?

Institutional Ownership by Quarter for Pfizer (NYSE:PFE)

Receive News & Ratings for Pfizer Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pfizer and related companies with MarketBeat.com's FREE daily email newsletter.