State of Michigan Retirement System raised its holdings in Pfizer Inc. (NYSE:PFE) by 7.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,528,132 shares of the biopharmaceutical company’s stock after purchasing an additional 109,500 shares during the quarter. State of Michigan Retirement System’s holdings in Pfizer were worth $56,082,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also made changes to their positions in PFE. Nordea Investment Management AB boosted its stake in shares of Pfizer by 65.3% during the 2nd quarter. Nordea Investment Management AB now owns 22,272,402 shares of the biopharmaceutical company’s stock worth $719,176,000 after acquiring an additional 8,798,233 shares in the last quarter. Two Sigma Advisers LP boosted its stake in shares of Pfizer by 74.8% during the 2nd quarter. Two Sigma Advisers LP now owns 11,066,501 shares of the biopharmaceutical company’s stock worth $361,875,000 after acquiring an additional 4,736,500 shares in the last quarter. APG Asset Management N.V. boosted its stake in shares of Pfizer by 129.4% during the 1st quarter. APG Asset Management N.V. now owns 6,955,829 shares of the biopharmaceutical company’s stock worth $227,038,000 after acquiring an additional 3,924,241 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Pfizer by 0.8% during the 2nd quarter. BlackRock Inc. now owns 427,534,404 shares of the biopharmaceutical company’s stock worth $13,980,372,000 after acquiring an additional 3,464,207 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of Pfizer by 8,940.8% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,426,457 shares of the biopharmaceutical company’s stock worth $112,045,000 after acquiring an additional 3,388,557 shares in the last quarter. 69.08% of the stock is currently owned by institutional investors.
Shares of NYSE:PFE opened at $35.28 on Friday. The firm’s 50 day moving average is $36.74 and its two-hundred day moving average is $36.59. Pfizer Inc. has a 52 week low of $27.88 and a 52 week high of $40.97. The firm has a market capitalization of $196.05 billion, a P/E ratio of 14.00, a PEG ratio of 3.10 and a beta of 0.66. The company has a current ratio of 1.42, a quick ratio of 1.16 and a debt-to-equity ratio of 0.78.
Pfizer (NYSE:PFE) last issued its earnings results on Tuesday, October 27th. The biopharmaceutical company reported $0.72 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.01. The firm had revenue of $12.13 billion during the quarter, compared to analysts’ expectations of $12.30 billion. Pfizer had a net margin of 28.80% and a return on equity of 25.11%. The firm’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same period last year, the firm posted $0.75 earnings per share. Analysts predict that Pfizer Inc. will post 2.84 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Friday, November 6th will be issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 4.31%. The ex-dividend date is Thursday, November 5th. Pfizer’s payout ratio is 51.53%.
Several equities research analysts have recently commented on PFE shares. Atlantic Securities lowered Pfizer from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $44.00 to $39.00 in a research note on Monday, October 12th. Truist began coverage on Pfizer in a research report on Friday, October 23rd. They set a “buy” rating and a $42.00 price objective for the company. UBS Group lifted their price objective on Pfizer from $37.00 to $39.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 29th. Zacks Investment Research upgraded Pfizer from a “sell” rating to a “hold” rating and set a $37.00 price objective for the company in a research report on Thursday. Finally, Mizuho reiterated a “buy” rating and issued a $43.00 price target on shares of Pfizer in a report on Tuesday, September 15th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the stock. Pfizer has a consensus rating of “Hold” and an average target price of $39.66.
In other news, major shareholder Pfizer Inc purchased 1,200,000 shares of Pfizer stock in a transaction that occurred on Tuesday, October 27th. The stock was acquired at an average price of $10.00 per share, for a total transaction of $12,000,000.00. Following the transaction, the insider now owns 27,349,211 shares in the company, valued at $273,492,110. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ronald E. Blaylock purchased 13,000 shares of Pfizer stock in a transaction that occurred on Thursday, August 6th. The stock was purchased at an average price of $38.55 per share, with a total value of $501,150.00. Following the transaction, the director now owns 4,000 shares in the company, valued at approximately $154,200. The disclosure for this purchase can be found here. Company insiders own 0.08% of the company’s stock.
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.
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