California Public Employees Retirement System Sells 29,435 Shares of Pfizer Inc. (NYSE:PFE)

California Public Employees Retirement System cut its holdings in shares of Pfizer Inc. (NYSE:PFE) by 0.2% during the fourth quarter, Holdings Channel.com reports. The firm owned 16,073,641 shares of the biopharmaceutical company’s stock after selling 29,435 shares during the period. California Public Employees Retirement System’s holdings in Pfizer were worth $426,434,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Life Planning Partners Inc purchased a new position in shares of Pfizer in the 4th quarter valued at $893,000. Summit Securities Group LLC boosted its position in Pfizer by 38.4% during the fourth quarter. Summit Securities Group LLC now owns 23,800 shares of the biopharmaceutical company’s stock valued at $631,000 after purchasing an additional 6,600 shares in the last quarter. Schroder Investment Management Group grew its stake in Pfizer by 13.6% in the fourth quarter. Schroder Investment Management Group now owns 9,973,310 shares of the biopharmaceutical company’s stock valued at $264,592,000 after purchasing an additional 1,193,722 shares during the last quarter. American Money Management LLC bought a new position in Pfizer in the fourth quarter worth about $211,000. Finally, Allianz SE purchased a new stake in shares of Pfizer during the fourth quarter valued at about $19,476,000. Institutional investors own 68.36% of the company’s stock.

Pfizer Trading Up 0.8 %

Shares of Pfizer stock opened at $25.20 on Friday. The stock has a market cap of $142.93 billion, a PE ratio of 17.87, a price-to-earnings-growth ratio of 0.64 and a beta of 0.61. The firm has a fifty day moving average price of $26.06 and a 200 day moving average price of $26.92. Pfizer Inc. has a 1 year low of $24.48 and a 1 year high of $31.54. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.00 and a quick ratio of 0.73.

Pfizer (NYSE:PFE) last issued its quarterly earnings data on Tuesday, February 4th. The biopharmaceutical company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.15. The business had revenue of $17.76 billion during the quarter, compared to analysts’ expectations of $17.26 billion. Pfizer had a return on equity of 19.47% and a net margin of 12.62%. The company’s revenue for the quarter was up 24.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.10 EPS. Equities research analysts predict that Pfizer Inc. will post 2.95 earnings per share for the current year.

Insider Transactions at Pfizer

In other news, Director Ronald E. Blaylock purchased 19,457 shares of the stock in a transaction that occurred on Thursday, February 13th. The shares were purchased at an average cost of $25.65 per share, with a total value of $499,072.05. Following the completion of the acquisition, the director now owns 27,707 shares of the company’s stock, valued at approximately $710,684.55. This represents a 235.84 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on PFE shares. Hsbc Global Res raised shares of Pfizer to a “strong-buy” rating in a research report on Monday, March 10th. Guggenheim reaffirmed a “buy” rating on shares of Pfizer in a research report on Tuesday, March 18th. Bank of America reiterated a “neutral” rating and set a $29.00 price objective on shares of Pfizer in a report on Tuesday, December 10th. Citigroup dropped their target price on Pfizer from $30.00 to $29.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 28th. Finally, UBS Group decreased their price target on Pfizer from $31.00 to $29.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, six have assigned a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $31.92.

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.