Alaska Permanent Fund Corp Sells 88,935 Shares of Pfizer Inc. (NYSE:PFE)

Alaska Permanent Fund Corp lowered its position in Pfizer Inc. (NYSE:PFE) by 84.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,720 shares of the biopharmaceutical company’s stock after selling 88,935 shares during the quarter. Alaska Permanent Fund Corp’s holdings in Pfizer were worth $464,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of PFE. Norges Bank bought a new stake in shares of Pfizer in the 4th quarter worth approximately $2,129,927,000. Wellington Management Group LLP raised its holdings in shares of Pfizer by 4.9% in 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 buying an additional 11,099,024 shares in the last quarter. Charles Schwab Investment Management Inc. raised 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 worth $2,985,783,000 after buying an additional 8,473,686 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Pfizer by 13.8% in the 4th 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 in the last quarter. Finally, Ruffer LLP raised its holdings in shares of Pfizer by 248.7% in the 4th quarter. Ruffer LLP now owns 5,796,012 shares of the biopharmaceutical company’s stock worth $166,837,000 after buying an additional 4,133,786 shares in the last quarter. Institutional investors own 68.36% of the company’s stock.

Pfizer Stock Performance

PFE stock opened at $27.75 on Friday. The business’s 50-day moving average price is $27.67 and its two-hundred day moving average price is $27.72. The company has a current ratio of 1.05, a quick ratio of 0.78 and a debt-to-equity ratio of 0.66. The firm has a market cap of $157.22 billion, a PE ratio of -462.34, a P/E/G ratio of 1.09 and a beta of 0.70. Pfizer Inc. has a 1-year low of $25.20 and a 1-year high of $38.99.

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

Pfizer Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 10th were issued a dividend of $0.42 per share. The ex-dividend date was Thursday, May 9th. This represents a $1.68 annualized dividend and a yield of 6.06%. Pfizer’s dividend payout ratio is presently -2,799.53%.

Analysts Set New Price Targets

PFE has been the subject of a number of recent analyst reports. Morgan Stanley raised their price target on Pfizer from $28.00 to $29.00 and gave the company an “equal weight” rating in a report on Thursday, May 2nd. Guggenheim assumed coverage on Pfizer in a research note on Friday, February 23rd. They issued a “buy” rating and a $36.00 target price for the company. BMO Capital Markets reissued an “outperform” rating and issued a $36.00 target price (up from $33.00) on shares of Pfizer in a research note on Thursday, May 2nd. Cantor Fitzgerald reissued an “overweight” rating and issued a $45.00 target price on shares of Pfizer in a research note on Monday, June 17th. Finally, Argus cut Pfizer from a “buy” rating to a “hold” rating in a research note on Friday, March 22nd. Ten investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Pfizer has a consensus rating of “Hold” and a consensus target price of $35.86.

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.