New Mexico Educational Retirement Board Purchases 32,700 Shares of Pfizer Inc. (NYSE:PFE)

New Mexico Educational Retirement Board grew its position in shares of Pfizer Inc. (NYSE:PFE) by 11.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 326,400 shares of the biopharmaceutical company’s stock after acquiring an additional 32,700 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Pfizer were worth $9,058,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of PFE. Norges Bank bought a new stake in Pfizer during the fourth quarter worth $2,129,927,000. Wellington Management Group LLP grew its holdings in Pfizer by 4.9% during the fourth quarter. Wellington Management Group LLP now owns 239,209,768 shares of the biopharmaceutical company’s stock worth $6,886,849,000 after buying an additional 11,099,024 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Pfizer by 8.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 104,246,432 shares of the biopharmaceutical company’s stock worth $2,985,783,000 after buying an additional 8,473,686 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Pfizer by 13.8% during the fourth 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 in the last quarter. Finally, Ruffer LLP boosted its position in Pfizer by 248.7% in the fourth quarter. Ruffer LLP now owns 5,796,012 shares of the biopharmaceutical company’s stock worth $166,837,000 after purchasing an additional 4,133,786 shares during the last quarter. Institutional investors own 68.36% of the company’s stock.

Pfizer Price Performance

NYSE PFE traded up $0.18 during trading on Friday, reaching $27.98. The company’s stock had a trading volume of 33,189,215 shares, compared to its average volume of 34,031,364. The stock has a market capitalization of $158.55 billion, a PE ratio of -466.26, a P/E/G ratio of 1.10 and a beta of 0.70. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.05 and a quick ratio of 0.78. The firm has a fifty day moving average of $27.90 and a 200 day moving average of $27.68. Pfizer Inc. has a one year low of $25.20 and a one year high of $37.80.

Pfizer (NYSE:PFE) last announced its earnings results on Wednesday, May 1st. The biopharmaceutical company reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.26. The business had revenue of $14.88 billion for the quarter, compared to analyst estimates of $13.87 billion. Pfizer had a positive return on equity of 8.64% and a negative net margin of 0.56%. The company’s quarterly revenue was down 19.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.23 EPS. Analysts expect that Pfizer Inc. will post 2.38 EPS for the current fiscal year.

Pfizer Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Friday, July 26th will be given a dividend of $0.42 per share. The ex-dividend date of this dividend is Thursday, July 25th. This represents a $1.68 annualized dividend and a dividend yield of 6.00%. Pfizer’s dividend payout ratio (DPR) is presently -2,799.53%.

Analyst Upgrades and Downgrades

PFE has been the topic of several research analyst reports. Morgan Stanley boosted their price objective on Pfizer from $28.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 2nd. Argus cut Pfizer from a “buy” rating to a “hold” rating in a research report on Friday, March 22nd. BMO Capital Markets reissued an “outperform” rating and issued a $36.00 price objective (up previously from $33.00) on shares of Pfizer in a research report on Thursday, May 2nd. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $45.00 price target on shares of Pfizer in a research report on Wednesday. Nine equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $35.54.

Pfizer 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.