Pfizer Inc. $PFE Shares Sold by State of Michigan Retirement System

State of Michigan Retirement System reduced its stake in Pfizer Inc. (NYSE:PFE) by 0.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,716,984 shares of the biopharmaceutical company’s stock after selling 8,500 shares during the period. State of Michigan Retirement System’s holdings in Pfizer were worth $41,620,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in PFE. GKV Capital Management Co. Inc. acquired a new stake in Pfizer in the first quarter worth approximately $27,000. Curio Wealth LLC lifted its position in Pfizer by 36,600.0% in the second quarter. Curio Wealth LLC now owns 1,101 shares of the biopharmaceutical company’s stock worth $27,000 after purchasing an additional 1,098 shares during the period. North Capital Inc. acquired a new stake in Pfizer in the first quarter worth approximately $28,000. Bayforest Capital Ltd acquired a new stake in Pfizer in the first quarter worth approximately $28,000. Finally, Harbor Asset Planning Inc. acquired a new stake in Pfizer in the second quarter worth approximately $29,000. 68.36% of the stock is currently owned by institutional investors and hedge funds.

Pfizer Price Performance

Shares of NYSE:PFE opened at $24.68 on Friday. The company’s fifty day moving average is $24.77 and its two-hundred day moving average is $24.28. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.65. Pfizer Inc. has a 12-month low of $20.92 and a 12-month high of $28.64. The company has a market cap of $140.29 billion, a P/E ratio of 13.13, a price-to-earnings-growth ratio of 0.81 and a beta of 0.55.

Pfizer (NYSE:PFE) last announced its earnings results on Tuesday, August 5th. The biopharmaceutical company reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.20. Pfizer had a net margin of 16.84% and a return on equity of 21.42%. The company had revenue of $14.65 billion for the quarter, compared to the consensus estimate of $13.43 billion. During the same period in the previous year, the business earned $0.60 EPS. The company’s revenue was up 10.3% on a year-over-year basis. Pfizer has set its FY 2025 guidance at 2.900-3.100 EPS. Equities analysts expect that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.

Pfizer Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Friday, November 7th will be paid a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 7.0%. The ex-dividend date of this dividend is Friday, November 7th. Pfizer’s payout ratio is 91.49%.

Wall Street Analyst Weigh In

PFE has been the subject of a number of research reports. Sanford C. Bernstein restated a “market perform” rating and set a $30.00 target price on shares of Pfizer in a report on Friday. Weiss Ratings restated a “hold (c-)” rating on shares of Pfizer in a report on Wednesday, October 8th. Bank of America raised their target price on shares of Pfizer from $28.00 to $30.00 and gave the stock a “neutral” rating in a report on Friday, October 3rd. UBS Group restated a “neutral” rating and set a $28.00 target price on shares of Pfizer in a report on Wednesday, October 1st. Finally, Morgan Stanley reduced their target price on shares of Pfizer from $33.00 to $32.00 and set an “equal weight” rating for the company in a report on Friday, October 10th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Pfizer has an average rating of “Hold” and a consensus target price of $28.24.

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.