TIAA Trust National Association Trims Stake in Pfizer Inc. (NYSE:PFE)

TIAA Trust National Association lessened its stake in Pfizer Inc. (NYSE:PFE) by 4.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 427,183 shares of the biopharmaceutical company’s stock after selling 18,208 shares during the period. TIAA Trust National Association’s holdings in Pfizer were worth $11,952,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Cantor Fitzgerald Investment Advisors L.P. purchased a new position in Pfizer in the fourth quarter valued at $16,166,000. First Heartland Consultants Inc. increased its stake in shares of Pfizer by 43.3% in the 4th quarter. First Heartland Consultants Inc. now owns 13,013 shares of the biopharmaceutical company’s stock valued at $375,000 after purchasing an additional 3,933 shares in the last quarter. ORG Partners LLC raised its holdings in Pfizer by 1,729.9% in the 2nd quarter. ORG Partners LLC now owns 47,028 shares of the biopharmaceutical company’s stock worth $1,327,000 after purchasing an additional 44,458 shares during the period. Kempner Capital Management Inc. purchased a new position in shares of Pfizer during the 1st quarter valued at approximately $2,439,000. Finally, Leo Wealth LLC purchased a new position in Pfizer during the fourth quarter valued at $2,171,000. Institutional investors and hedge funds own 68.36% of the company’s stock.

Pfizer Stock Performance

NYSE PFE opened at $28.30 on Wednesday. The stock has a fifty day simple moving average of $29.01 and a 200-day simple moving average of $28.03. The company has a current ratio of 0.86, a quick ratio of 0.60 and a debt-to-equity ratio of 0.65. The stock has a market cap of $160.36 billion, a PE ratio of -471.67, a P/E/G ratio of 1.02 and a beta of 0.69. Pfizer Inc. has a twelve month low of $25.20 and a twelve month high of $36.29.

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

Pfizer Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, July 26th were issued a $0.42 dividend. The ex-dividend date of this dividend was Friday, July 26th. This represents a $1.68 annualized dividend and a yield of 5.94%. Pfizer’s dividend payout ratio (DPR) is presently -2,800.00%.

Wall Street Analyst Weigh In

PFE has been the topic of several research reports. Daiwa America upgraded Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. StockNews.com upgraded shares of Pfizer from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Wells Fargo & Company boosted their price target on shares of Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 31st. Cantor Fitzgerald reiterated an “overweight” rating and issued a $45.00 price objective on shares of Pfizer in a report on Monday, August 19th. Finally, Barclays boosted their target price on Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 31st. Eight research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Pfizer currently has an average rating of “Moderate Buy” and a consensus target price of $34.54.

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.