Teachers Retirement System of The State of Kentucky Sells 13,335 Shares of Pfizer Inc. (NYSE:PFE)

Teachers Retirement System of The State of Kentucky lowered its position in shares of Pfizer Inc. (NYSE:PFE) by 2.9% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 448,124 shares of the biopharmaceutical company’s stock after selling 13,335 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Pfizer were worth $12,539,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Wellington Management Group LLP increased its stake 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 in the last quarter. Massachusetts Financial Services Co. MA lifted its position in Pfizer by 3.2% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 71,794,056 shares of the biopharmaceutical company’s stock valued at $2,008,798,000 after acquiring an additional 2,241,609 shares in the last quarter. Van ECK Associates Corp boosted its stake in Pfizer by 1.8% in the 2nd quarter. Van ECK Associates Corp now owns 16,104,088 shares of the biopharmaceutical company’s stock worth $450,593,000 after purchasing an additional 290,760 shares during the period. Federated Hermes Inc. increased its holdings in Pfizer by 3.3% during the 2nd quarter. Federated Hermes Inc. now owns 14,923,545 shares of the biopharmaceutical company’s stock worth $417,561,000 after purchasing an additional 470,003 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its stake in shares of Pfizer by 2.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 10,260,067 shares of the biopharmaceutical company’s stock valued at $287,077,000 after purchasing an additional 238,850 shares during the period. Institutional investors own 68.36% of the company’s stock.

Pfizer Price Performance

Pfizer stock opened at $28.67 on Wednesday. The company has a market capitalization of $162.46 billion, a price-to-earnings ratio of -477.83, a PEG ratio of 1.27 and a beta of 0.68. The stock’s 50 day moving average is $29.28 and its 200-day moving average is $28.31. 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 Inc. has a 12 month low of $25.20 and a 12 month high of $34.11.

Pfizer (NYSE:PFE) last issued its quarterly earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.14. The business had revenue of $13.28 billion for the quarter, compared to the consensus estimate of $12.96 billion. Pfizer had a positive return on equity of 8.42% and a negative net margin of 4.66%. The firm’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.67 earnings per share. Equities research analysts expect that Pfizer Inc. will post 2.66 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on PFE shares. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $45.00 price objective on shares of Pfizer in a research report on Monday, September 16th. UBS Group upped their price target on Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Daiwa Capital Markets upgraded shares of Pfizer from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $28.00 to $34.00 in a report on Wednesday, August 7th. Barclays increased their target price on shares of Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 31st. Finally, StockNews.com lowered shares of Pfizer from a “buy” rating to a “hold” rating in a research note on Tuesday. Nine equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $34.54.

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.