Pfizer Inc. (NYSE:PFE) Shares Sold by TIAA Trust National Association

TIAA Trust National Association reduced its stake in shares of Pfizer Inc. (NYSE:PFE) by 8.0% during the 1st quarter, Holdings Channel.com reports. The fund owned 372,705 shares of the biopharmaceutical company’s stock after selling 32,535 shares during the quarter. TIAA Trust National Association’s holdings in Pfizer were worth $9,444,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Signature Wealth Management Partners LLC raised its stake in Pfizer by 113.9% during the 1st quarter. Signature Wealth Management Partners LLC now owns 16,529 shares of the biopharmaceutical company’s stock worth $419,000 after acquiring an additional 8,800 shares in the last quarter. Baker Avenue Asset Management LP raised its stake in Pfizer by 9.9% during the 1st quarter. Baker Avenue Asset Management LP now owns 28,727 shares of the biopharmaceutical company’s stock worth $728,000 after acquiring an additional 2,596 shares in the last quarter. Commerce Bank raised its stake in Pfizer by 0.8% during the 1st quarter. Commerce Bank now owns 1,645,384 shares of the biopharmaceutical company’s stock worth $41,694,000 after acquiring an additional 13,224 shares in the last quarter. MONECO Advisors LLC grew its position in Pfizer by 12.6% during the 1st quarter. MONECO Advisors LLC now owns 29,485 shares of the biopharmaceutical company’s stock worth $747,000 after purchasing an additional 3,308 shares during the last quarter. Finally, ProVise Management Group LLC grew its position in Pfizer by 6.9% during the 1st quarter. ProVise Management Group LLC now owns 114,157 shares of the biopharmaceutical company’s stock worth $2,893,000 after purchasing an additional 7,327 shares during the last quarter. 68.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on PFE shares. Wolfe Research raised their price objective on shares of Pfizer from $22.00 to $23.00 and gave the stock an “underperform” rating in a research report on Wednesday, April 30th. HSBC lowered their price objective on shares of Pfizer from $27.00 to $26.00 and set a “buy” rating on the stock in a research report on Monday, May 19th. UBS Group raised their price objective on shares of Pfizer from $24.00 to $25.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 30th. BMO Capital Markets lowered their price objective on shares of Pfizer from $36.00 to $30.00 in a research report on Thursday, April 17th. Finally, Morgan Stanley raised their price objective on shares of Pfizer from $31.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 30th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, six have assigned a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, Pfizer has a consensus rating of “Moderate Buy” and an average target price of $28.28.

Pfizer Stock Up 0.9%

PFE stock opened at $23.49 on Friday. The company has a market cap of $133.55 billion, a P/E ratio of 17.02, a P/E/G ratio of 0.85 and a beta of 0.52. Pfizer Inc. has a 52 week low of $20.92 and a 52 week high of $31.32. The company’s 50-day moving average price is $24.36 and its 200 day moving average price is $24.57. The company has a current ratio of 1.26, a quick ratio of 0.96 and a debt-to-equity ratio of 0.64.

Pfizer Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Friday, July 25th will be issued a dividend of $0.43 per share. The ex-dividend date of this dividend is Friday, July 25th. This represents a $1.72 dividend on an annualized basis and a yield of 7.3%. Pfizer’s payout ratio is currently 124.64%.

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.