California Public Employees Retirement System Has $368.78 Million Stock Position in Pfizer Inc. $PFE

California Public Employees Retirement System lessened its holdings in Pfizer Inc. (NYSE:PFE) by 2.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 15,213,538 shares of the biopharmaceutical company’s stock after selling 397,845 shares during the quarter. California Public Employees Retirement System owned 0.27% of Pfizer worth $368,776,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. GKV Capital Management Co. Inc. bought a new position in shares of Pfizer in the first quarter worth about $27,000. Curio Wealth LLC lifted its stake in shares of Pfizer by 36,600.0% in the 2nd quarter. Curio Wealth LLC now owns 1,101 shares of the biopharmaceutical company’s stock valued at $27,000 after purchasing an additional 1,098 shares during the period. Bayforest Capital Ltd bought a new stake in shares of Pfizer during the 1st quarter valued at about $28,000. Harbor Asset Planning Inc. bought a new position in shares of Pfizer during the 2nd quarter worth approximately $29,000. Finally, Evelyn Partners Asset Management Ltd acquired a new stake in shares of Pfizer in the 2nd quarter valued at about $33,000. Institutional investors own 68.36% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $26.00 price objective on shares of Pfizer in a research note on Wednesday, November 5th. Citigroup began coverage on Pfizer in a report on Tuesday, December 2nd. They set a “neutral” rating and a $26.00 price objective for the company. UBS Group reaffirmed a “neutral” rating and set a $28.00 target price on shares of Pfizer in a research report on Wednesday, October 1st. Bank of America upped their price target on Pfizer from $28.00 to $30.00 and gave the stock a “neutral” rating in a report on Friday, October 3rd. Finally, Wall Street Zen cut Pfizer from a “buy” rating to a “hold” rating in a research note on Sunday, September 28th. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $28.39.

Pfizer Stock Up 1.3%

Shares of NYSE:PFE opened at $26.03 on Friday. Pfizer Inc. has a 1 year low of $20.92 and a 1 year high of $27.69. The company has a market capitalization of $147.97 billion, a PE ratio of 15.13 and a beta of 0.46. The business has a fifty day moving average price of $25.17 and a two-hundred day moving average price of $24.68. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.28 and a quick ratio of 0.97.

Pfizer (NYSE:PFE) last issued its quarterly earnings results on Tuesday, November 4th. The biopharmaceutical company reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.79 by $0.08. The company had revenue of $16.65 billion for the quarter, compared to the consensus estimate of $16.94 billion. Pfizer had a net margin of 15.65% and a return on equity of 20.17%. Pfizer has set its FY 2025 guidance at 3.000-3.150 EPS. Analysts forecast that Pfizer Inc. will post 2.95 earnings per share for the current year.

Pfizer Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Friday, November 7th were issued a dividend of $0.43 per share. The ex-dividend date of this dividend was Friday, November 7th. This represents a $1.72 annualized dividend and a yield of 6.6%. Pfizer’s dividend payout ratio is 100.00%.

About Pfizer

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.