Pfizer Inc. (NYSE:PFE) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System lowered its position in Pfizer Inc. (NYSE:PFE) by 4.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,016,496 shares of the biopharmaceutical company’s stock after selling 212,946 shares during the period. New York State Teachers Retirement System’s holdings in Pfizer were worth $145,177,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of PFE. Denali Advisors LLC increased its position in shares of Pfizer by 11.9% in the first quarter. Denali Advisors LLC now owns 29,200 shares of the biopharmaceutical company’s stock valued at $810,000 after buying an additional 3,100 shares in the last quarter. Valley National Advisers Inc. grew its stake in Pfizer by 26.2% in the 1st quarter. Valley National Advisers Inc. now owns 32,939 shares of the biopharmaceutical company’s stock valued at $914,000 after acquiring an additional 6,835 shares during the period. Norden Group LLC increased its holdings in Pfizer by 2,326.0% in the 1st quarter. Norden Group LLC now owns 580,602 shares of the biopharmaceutical company’s stock worth $16,112,000 after acquiring an additional 556,670 shares in the last quarter. Westside Investment Management Inc. raised its position in Pfizer by 29.3% during the first quarter. Westside Investment Management Inc. now owns 12,150 shares of the biopharmaceutical company’s stock worth $337,000 after acquiring an additional 2,751 shares during the period. Finally, Financial Sense Advisors Inc. purchased a new position in Pfizer during the first quarter valued at $634,000. 68.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Daiwa Capital Markets raised shares of Pfizer from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $28.00 to $34.00 in a research note on Wednesday, August 7th. Daiwa America upgraded Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Sanford C. Bernstein initiated coverage on Pfizer in a research report on Thursday, October 17th. They issued a “market perform” rating and a $32.00 target price on the stock. StockNews.com upgraded Pfizer from a “hold” rating to a “buy” rating in a research report on Wednesday, October 9th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $45.00 price objective on shares of Pfizer in a report on Wednesday, October 23rd. Eight investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $33.58.

Pfizer Trading Down 0.4 %

PFE stock traded down $0.12 during trading on Wednesday, reaching $28.34. 11,772,263 shares of the stock were exchanged, compared to its average volume of 37,032,809. The company has a current ratio of 0.86, a quick ratio of 0.60 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $160.59 billion, a price-to-earnings ratio of -61.89, a P/E/G ratio of 0.99 and a beta of 0.67. The business has a 50 day moving average price of $29.07 and a 200-day moving average price of $28.56. Pfizer Inc. has a 1 year low of $25.20 and a 1 year high of $31.54.

Pfizer (NYSE:PFE) last issued its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.42. The company had revenue of $17.70 billion during the quarter, compared to analyst estimates of $14.92 billion. Pfizer had a positive return on equity of 8.42% and a negative net margin of 4.66%. The firm’s revenue for the quarter was up 31.2% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.17) earnings per share. On average, research analysts predict that Pfizer Inc. will post 2.67 earnings per share for the current year.

Pfizer Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 5.93%. The ex-dividend date of this dividend is Friday, November 8th. Pfizer’s dividend payout ratio (DPR) is -365.21%.

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.