MainStreet Investment Advisors LLC Has $4.05 Million Stock Position in Pfizer Inc. (NYSE:PFE)

MainStreet Investment Advisors LLC cut its stake in shares of Pfizer Inc. (NYSE:PFE) by 2.4% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 144,600 shares of the biopharmaceutical company’s stock after selling 3,555 shares during the period. MainStreet Investment Advisors LLC’s holdings in Pfizer were worth $4,046,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Wellington Management Group LLP raised its position in Pfizer by 4.9% in the fourth quarter. Wellington Management Group LLP now owns 239,209,768 shares of the biopharmaceutical company’s stock valued at $6,886,849,000 after purchasing an additional 11,099,024 shares during the last quarter. Norges Bank bought a new position in Pfizer in the 4th quarter valued at approximately $2,129,927,000. Massachusetts Financial Services Co. MA boosted its position in Pfizer by 13.8% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 68,506,441 shares of the biopharmaceutical company’s stock worth $1,972,300,000 after buying an additional 8,298,920 shares during the period. Van ECK Associates Corp grew its holdings in Pfizer by 1.8% during the 2nd quarter. Van ECK Associates Corp now owns 16,104,088 shares of the biopharmaceutical company’s stock worth $450,593,000 after acquiring an additional 290,760 shares during the last quarter. Finally, California State Teachers Retirement System increased its position in Pfizer by 0.9% in the 1st quarter. California State Teachers Retirement System now owns 9,250,303 shares of the biopharmaceutical company’s stock valued at $256,696,000 after acquiring an additional 83,556 shares during the period. 68.36% of the stock is currently owned by institutional investors.

Pfizer Price Performance

PFE stock opened at $28.56 on Friday. Pfizer Inc. has a 1 year low of $25.20 and a 1 year high of $34.64. The stock has a market capitalization of $161.84 billion, a PE ratio of -476.00, a price-to-earnings-growth ratio of 1.02 and a beta of 0.68. The company’s 50-day moving average is $29.06 and its 200-day moving average is $28.05. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.86 and a quick ratio of 0.60.

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

Pfizer Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, July 26th were paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 5.88%. The ex-dividend date of this dividend was Friday, July 26th. Pfizer’s dividend payout ratio (DPR) is -2,800.00%.

Analysts Set New Price Targets

Several analysts recently weighed in on PFE shares. StockNews.com raised shares of Pfizer from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Daiwa Capital Markets raised Pfizer from a “neutral” rating to an “outperform” rating and increased their price target for the company from $28.00 to $34.00 in a research note on Wednesday, August 7th. Daiwa America upgraded Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. Wells Fargo & Company upped their target price on Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a report on Wednesday, July 31st. Finally, UBS Group raised their price target on shares of Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Eight investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Pfizer presently has a consensus rating of “Moderate Buy” and an average target price of $34.54.

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.