California Public Employees Retirement System Sells 397,845 Shares of Pfizer Inc. $PFE

California Public Employees Retirement System reduced its position in Pfizer Inc. (NYSE:PFE) by 2.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,213,538 shares of the biopharmaceutical company’s stock after selling 397,845 shares during the quarter. California Public Employees Retirement System’s holdings in Pfizer were worth $368,776,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of PFE. Westbourne Investments Inc. purchased a new position in shares of Pfizer during the 1st quarter valued at about $2,411,000. Bourne Lent Asset Management Inc. raised its stake in shares of Pfizer by 90.8% during the second quarter. Bourne Lent Asset Management Inc. now owns 38,255 shares of the biopharmaceutical company’s stock worth $927,000 after acquiring an additional 18,200 shares in the last quarter. Strs Ohio purchased a new position in shares of Pfizer during the first quarter worth approximately $49,968,000. IFM Investors Pty Ltd lifted its holdings in shares of Pfizer by 3.8% in the 2nd quarter. IFM Investors Pty Ltd now owns 1,127,143 shares of the biopharmaceutical company’s stock worth $27,322,000 after acquiring an additional 41,263 shares during the last quarter. Finally, Intrua Financial LLC boosted its stake in shares of Pfizer by 17.4% in the 1st quarter. Intrua Financial LLC now owns 78,392 shares of the biopharmaceutical company’s stock valued at $1,986,000 after purchasing an additional 11,643 shares in the last quarter. Institutional investors own 68.36% of the company’s stock.

Analyst Upgrades and Downgrades

PFE has been the subject of several recent research reports. Bank of America boosted their price target on shares of Pfizer from $28.00 to $30.00 and gave the stock a “neutral” rating in a research note on Friday, October 3rd. The Goldman Sachs Group reissued a “neutral” rating and issued a $26.00 target price on shares of Pfizer in a research note on Wednesday, November 5th. Citigroup began coverage on Pfizer in a research report on Tuesday, December 2nd. They set a “neutral” rating and a $26.00 price target on the stock. UBS Group reiterated a “neutral” rating and issued a $28.00 price objective on shares of Pfizer in a research report on Wednesday, October 1st. Finally, Sanford C. Bernstein restated a “market perform” rating and issued a $30.00 target price on shares of Pfizer in a report on Friday, October 31st. Two analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $28.39.

Pfizer Trading Up 1.3%

NYSE PFE opened at $26.03 on Friday. The stock has a market cap of $147.97 billion, a P/E ratio of 15.13 and a beta of 0.46. Pfizer Inc. has a fifty-two week low of $20.92 and a fifty-two week high of $27.69. The stock has a 50 day simple moving average of $25.17 and a two-hundred day simple moving average of $24.68. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.97 and a current ratio of 1.28.

Pfizer (NYSE:PFE) last posted its earnings results on Tuesday, November 4th. The biopharmaceutical company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.08. Pfizer had a return on equity of 20.17% and a net margin of 15.65%.The firm had revenue of $16.65 billion for the quarter, compared to analysts’ expectations of $16.94 billion. Pfizer has set its FY 2025 guidance at 3.000-3.150 EPS. On average, analysts forecast that Pfizer Inc. will post 2.95 earnings per share for the current year.

Pfizer Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Friday, November 7th were given a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 6.6%. The ex-dividend date of this dividend was Friday, November 7th. Pfizer’s dividend payout ratio (DPR) is currently 100.00%.

Pfizer Company 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.