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% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 105,655 shares of the biopharmaceutical company’s stock after selling 143,868 shares during the quarter. Alaska Permanent Fund Corp’s holdings in Pfizer were worth $3,042,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PFE. Charles Schwab Investment Management Inc. grew its stake 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 buying an additional 9,393,992 shares during the period. Morgan Stanley boosted its position in shares of Pfizer by 0.4% during the 3rd quarter. Morgan Stanley now owns 84,927,802 shares of the biopharmaceutical company’s stock worth $2,817,055,000 after purchasing 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 3rd quarter. Massachusetts Financial Services Co. MA now owns 60,207,521 shares of the biopharmaceutical company’s stock worth $1,997,083,000 after purchasing an additional 5,185,453 shares during the period. Invesco Ltd. boosted 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 worth $797,901,000 after purchasing an additional 5,678,004 shares during the period. Finally, California Public Employees Retirement System boosted its position in shares of Pfizer by 0.6% during the 3rd 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 during the period. 68.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Pfizer Stock Performance

Pfizer stock traded down $0.06 during midday trading on Wednesday, hitting $26.26. 23,484,280 shares of the company’s stock were exchanged, compared to its average volume of 41,873,867. Pfizer Inc. has a 12-month low of $25.23 and a 12-month 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 stock has a market cap of $148.70 billion, a price-to-earnings ratio of 72.97, a price-to-earnings-growth ratio of 1.18 and a beta of 0.61. The firm’s 50 day simple moving average is $27.07 and its 200 day simple moving average is $28.52.

Pfizer (NYSE:PFE) last issued its quarterly earnings data on Tuesday, January 30th. The biopharmaceutical company reported $0.10 earnings per share (EPS) 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 company had revenue of $14.25 billion for the quarter, compared to the consensus estimate of $14.37 billion. During the same period last year, the firm posted $1.14 EPS. Pfizer’s revenue for the quarter was down 41.3% on a year-over-year basis. Equities research analysts predict that Pfizer Inc. will post 2.24 EPS for the current year.

Pfizer Announces Dividend

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

Pfizer 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.