Pfizer Inc. $PFE Holdings Cut by State of Michigan Retirement System

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

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. SS&H Financial Advisors Inc. lifted its position in Pfizer by 24.2% in the 2nd quarter. SS&H Financial Advisors Inc. now owns 80,407 shares of the biopharmaceutical company’s stock worth $1,949,000 after buying an additional 15,668 shares in the last quarter. Versor Investments LP lifted its position in Pfizer by 561.8% in the 2nd quarter. Versor Investments LP now owns 54,926 shares of the biopharmaceutical company’s stock worth $1,331,000 after buying an additional 46,626 shares in the last quarter. Plato Investment Management Ltd increased its stake in shares of Pfizer by 12.5% during the 2nd quarter. Plato Investment Management Ltd now owns 212,518 shares of the biopharmaceutical company’s stock worth $5,133,000 after purchasing an additional 23,646 shares during the last quarter. Lifeworks Advisors LLC increased its stake in shares of Pfizer by 25.8% during the 2nd quarter. Lifeworks Advisors LLC now owns 323,888 shares of the biopharmaceutical company’s stock worth $7,851,000 after purchasing an additional 66,511 shares during the last quarter. Finally, Twin City Private Wealth LLC increased its stake in shares of Pfizer by 4.1% during the 2nd quarter. Twin City Private Wealth LLC now owns 44,509 shares of the biopharmaceutical company’s stock worth $1,079,000 after purchasing an additional 1,769 shares during the last quarter. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Morgan Stanley decreased their price objective 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. Weiss Ratings reiterated a “hold (c-)” rating on shares of Pfizer in a report on Wednesday, October 8th. Wall Street Zen cut shares of Pfizer from a “buy” rating to a “hold” rating in a report on Sunday, September 28th. Sanford C. Bernstein reiterated a “market perform” rating and issued a $30.00 price objective on shares of Pfizer in a report on Friday. Finally, Citigroup upped their price objective on shares of Pfizer from $25.00 to $26.00 and gave the stock a “neutral” rating in a report on Wednesday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $28.24.

Pfizer Stock Performance

Shares of PFE opened at $24.68 on Friday. The company has a market capitalization of $140.29 billion, a PE ratio of 13.13, a price-to-earnings-growth ratio of 0.81 and a beta of 0.55. Pfizer Inc. has a one year low of $20.92 and a one year high of $28.64. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.16 and a quick ratio of 0.85. The company’s fifty day moving average price is $24.77 and its 200 day moving average price is $24.28.

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

Pfizer Announces Dividend

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

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.