TIAA Trust National Association Reduces Stock Position in Pfizer Inc. (NYSE:PFE)

TIAA Trust National Association trimmed its position in Pfizer Inc. (NYSE:PFE) by 7.8% in the 1st quarter, HoldingsChannel reports. The firm owned 445,391 shares of the biopharmaceutical company’s stock after selling 37,733 shares during the quarter. TIAA Trust National Association’s holdings in Pfizer were worth $12,360,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of PFE. Norges Bank acquired a new stake in shares of Pfizer in the fourth quarter worth $2,129,927,000. Wellington Management Group LLP grew its position in Pfizer by 4.9% during the 4th quarter. Wellington Management Group LLP now owns 239,209,768 shares of the biopharmaceutical company’s stock worth $6,886,849,000 after purchasing an additional 11,099,024 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Pfizer by 8.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 104,246,432 shares of the biopharmaceutical company’s stock valued at $2,985,783,000 after buying an additional 8,473,686 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in shares of Pfizer by 13.8% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 68,506,441 shares of the biopharmaceutical company’s stock worth $1,972,300,000 after buying an additional 8,298,920 shares during the last quarter. Finally, Pzena Investment Management LLC grew its holdings in Pfizer by 181.6% during the first quarter. Pzena Investment Management LLC now owns 7,670,445 shares of the biopharmaceutical company’s stock worth $212,855,000 after acquiring an additional 4,947,000 shares during the period. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Pfizer Price Performance

Shares of NYSE PFE traded up $0.26 during midday trading on Friday, hitting $29.97. The stock had a trading volume of 30,021,169 shares, compared to its average volume of 30,277,082. The company has a quick ratio of 0.78, a current ratio of 1.05 and a debt-to-equity ratio of 0.66. The stock has a 50 day simple moving average of $28.40 and a 200-day simple moving average of $27.74. The company has a market capitalization of $169.83 billion, a PE ratio of -499.50, a P/E/G ratio of 1.17 and a beta of 0.69. Pfizer Inc. has a 1 year low of $25.20 and a 1 year high of $37.80.

Pfizer (NYSE:PFE) last posted its quarterly earnings data on Wednesday, May 1st. The biopharmaceutical company reported $0.82 EPS for the quarter, beating the consensus estimate of $0.56 by $0.26. Pfizer had a positive return on equity of 8.64% and a negative net margin of 0.56%. The firm had revenue of $14.88 billion during the quarter, compared to the consensus estimate of $13.87 billion. During the same period in the prior year, the company earned $1.23 EPS. The firm’s revenue was down 19.5% compared to the same quarter last year. On average, sell-side analysts expect that Pfizer Inc. will post 2.39 EPS for the current fiscal year.

Pfizer Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Friday, July 26th will be paid a dividend of $0.42 per share. The ex-dividend date is Friday, July 26th. This represents a $1.68 annualized dividend and a yield of 5.61%. Pfizer’s dividend payout ratio is presently -2,800.00%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. BMO Capital Markets reissued an “outperform” rating and issued a $36.00 price target (up from $33.00) on shares of Pfizer in a report on Thursday, May 2nd. Barclays raised their price target on shares of Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 10th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $45.00 price objective on shares of Pfizer in a research report on Wednesday, July 10th. Finally, Morgan Stanley raised their price objective on Pfizer from $28.00 to $29.00 and gave the company an “equal weight” rating in a report on Thursday, May 2nd. Nine research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $34.50.

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.