Pfizer Inc. (NYSE:PFE) Shares Sold by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado lowered its stake in shares of Pfizer Inc. (NYSE:PFE) by 4.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 805,304 shares of the biopharmaceutical company’s stock after selling 39,006 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Pfizer were worth $22,347,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PFE. Creekmur Asset Management LLC purchased a new position in Pfizer in the fourth quarter valued at approximately $32,000. Trivant Custom Portfolio Group LLC increased its holdings in Pfizer by 100.0% in the 1st quarter. Trivant Custom Portfolio Group LLC now owns 1,200 shares of the biopharmaceutical company’s stock valued at $33,000 after purchasing an additional 600 shares in the last quarter. Tennessee Valley Asset Management Partners purchased a new position in Pfizer in the fourth quarter valued at about $36,000. DiNuzzo Private Wealth Inc. acquired a new position in shares of Pfizer during the fourth quarter worth about $37,000. Finally, ESL Trust Services LLC purchased a new stake in shares of Pfizer in the first quarter worth about $37,000. Institutional investors and hedge funds own 68.36% of the company’s stock.

Analysts Set New Price Targets

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

Pfizer Stock Performance

PFE traded up $0.06 during trading hours on Monday, hitting $30.83. 24,510,881 shares of the stock were exchanged, compared to its average volume of 39,623,016. The stock has a 50-day simple moving average of $28.54 and a 200-day simple moving average of $27.75. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.05 and a quick ratio of 0.78. Pfizer Inc. has a 12 month low of $25.20 and a 12 month high of $37.19. The stock has a market cap of $174.70 billion, a price-to-earnings ratio of -508.75, a price-to-earnings-growth ratio of 1.20 and a beta of 0.69.

Pfizer (NYSE:PFE) last issued its earnings results on Wednesday, May 1st. The biopharmaceutical company reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.26. The firm had revenue of $14.88 billion for the quarter, compared to analysts’ expectations of $13.87 billion. Pfizer had a negative net margin of 0.56% and a positive return on equity of 8.64%. Pfizer’s revenue was down 19.5% on a year-over-year basis. During the same quarter last year, the company posted $1.23 earnings per share. Analysts anticipate that Pfizer Inc. will post 2.38 earnings per share for the current year.

Pfizer Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Friday, July 26th will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 5.45%. The ex-dividend date of this dividend is Friday, July 26th. Pfizer’s dividend payout ratio (DPR) is -2,799.53%.

About Pfizer

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.