State of Alaska Department of Revenue Cuts Holdings in Pfizer Inc. (NYSE:PFE)

State of Alaska Department of Revenue decreased its holdings in Pfizer Inc. (NYSE:PFE) by 0.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 836,141 shares of the biopharmaceutical company’s stock after selling 7,500 shares during the period. State of Alaska Department of Revenue’s holdings in Pfizer were worth $24,197,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. TCV Trust & Wealth Management Inc. increased its holdings in Pfizer by 1.3% in the 3rd quarter. TCV Trust & Wealth Management Inc. now owns 34,098 shares of the biopharmaceutical company’s stock worth $987,000 after buying an additional 450 shares in the last quarter. Bristlecone Advisors LLC boosted its holdings in shares of Pfizer by 27.7% during the 3rd quarter. Bristlecone Advisors LLC now owns 116,556 shares of the biopharmaceutical company’s stock valued at $3,373,000 after acquiring an additional 25,281 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its holdings in shares of Pfizer by 1.1% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 7,398,373 shares of the biopharmaceutical company’s stock valued at $214,684,000 after acquiring an additional 83,564 shares during the last quarter. GHP Investment Advisors Inc. grew its stake in shares of Pfizer by 8.8% in the third quarter. GHP Investment Advisors Inc. now owns 13,697 shares of the biopharmaceutical company’s stock worth $396,000 after acquiring an additional 1,108 shares during the period. Finally, MCF Advisors LLC raised its holdings in shares of Pfizer by 14.7% during the third quarter. MCF Advisors LLC now owns 18,408 shares of the biopharmaceutical company’s stock valued at $533,000 after purchasing an additional 2,364 shares during the last quarter. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Analyst Upgrades and Downgrades

PFE has been the topic of several research reports. Citigroup initiated coverage on shares of Pfizer in a report on Friday. They issued a “neutral” rating and a $30.00 target price on the stock. Sanford C. Bernstein initiated coverage on Pfizer in a report on Thursday, October 17th. They issued a “market perform” rating and a $32.00 price objective for the company. Wells Fargo & Company increased their target price on Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a report on Wednesday, July 31st. Daiwa Capital Markets upgraded Pfizer from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $28.00 to $34.00 in a research note on Wednesday, August 7th. Finally, Daiwa America raised shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. 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 company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $33.58.

Pfizer Trading Down 0.7 %

Shares of NYSE:PFE opened at $28.45 on Friday. The stock has a 50 day moving average of $29.08 and a 200 day moving average of $28.51. The company has a market cap of $161.21 billion, a PE ratio of -474.17, a price-to-earnings-growth ratio of 1.01 and a beta of 0.67. Pfizer Inc. has a 12-month low of $25.20 and a 12-month high of $31.54. The company has a current ratio of 0.86, a quick ratio of 0.60 and a debt-to-equity ratio of 0.65.

Pfizer (NYSE:PFE) last posted its quarterly earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.14. The business had revenue of $13.28 billion during the quarter, compared to analyst estimates of $12.96 billion. Pfizer had a negative net margin of 4.66% and a positive return on equity of 8.42%. The company’s revenue was up 2.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.67 earnings per share. As a group, equities research analysts expect that Pfizer Inc. will post 2.67 EPS for the current year.

Pfizer Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be issued a dividend of $0.42 per share. The ex-dividend date is Friday, November 8th. This represents a $1.68 dividend on an annualized basis and a yield of 5.91%. Pfizer’s dividend payout ratio is presently -2,800.00%.

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.