New Mexico Educational Retirement Board Raises Position in Pfizer Inc. (NYSE:PFE)

New Mexico Educational Retirement Board lifted its holdings in Pfizer Inc. (NYSE:PFE) by 11.1% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 326,400 shares of the biopharmaceutical company’s stock after purchasing an additional 32,700 shares during the period. New Mexico Educational Retirement Board’s holdings in Pfizer were worth $9,058,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. VisionPoint Advisory Group LLC grew its stake in Pfizer by 52,350.0% in the third quarter. VisionPoint Advisory Group LLC now owns 1,049 shares of the biopharmaceutical company’s stock worth $35,000 after purchasing an additional 1,047 shares in the last quarter. GoalVest Advisory LLC grew its stake in Pfizer by 304.9% in the fourth quarter. GoalVest Advisory LLC now owns 1,077 shares of the biopharmaceutical company’s stock worth $31,000 after purchasing an additional 811 shares in the last quarter. Creekmur Asset Management LLC bought a new position in Pfizer in the fourth quarter worth approximately $32,000. Trivant Custom Portfolio Group LLC boosted its position in Pfizer by 100.0% during the 1st quarter. Trivant Custom Portfolio Group LLC now owns 1,200 shares of the biopharmaceutical company’s stock valued at $33,000 after acquiring an additional 600 shares in the last quarter. Finally, Tennessee Valley Asset Management Partners bought a new stake in Pfizer during the 4th quarter valued at $36,000. 68.36% of the stock is currently owned by hedge funds and other institutional investors.

Pfizer Stock Performance

Shares of NYSE PFE traded up $0.18 during trading on Friday, reaching $27.98. 33,189,215 shares of the company traded hands, compared to its average volume of 34,031,364. Pfizer Inc. has a 12-month low of $25.20 and a 12-month high of $37.80. The company has a current ratio of 1.05, a quick ratio of 0.78 and a debt-to-equity ratio of 0.66. The stock has a market cap of $158.55 billion, a P/E ratio of -466.26, a PEG ratio of 1.10 and a beta of 0.70. The firm’s fifty day simple moving average is $27.90 and its 200 day simple moving average is $27.68.

Pfizer (NYSE:PFE) last posted its earnings results on Wednesday, May 1st. The biopharmaceutical company reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.26. Pfizer had a positive return on equity of 8.64% and a negative net margin of 0.56%. The firm had revenue of $14.88 billion for the quarter, compared to analysts’ expectations of $13.87 billion. During the same period last year, the firm earned $1.23 EPS. The company’s quarterly revenue was down 19.5% on a year-over-year basis. As a group, research analysts anticipate that Pfizer Inc. will post 2.38 earnings per share for the current fiscal year.

Pfizer Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several analysts have issued reports on PFE shares. Morgan Stanley increased their target price on Pfizer from $28.00 to $29.00 and gave the company an “equal weight” rating in a research report on Thursday, May 2nd. 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. Cantor Fitzgerald reissued an “overweight” rating and issued a $45.00 price objective on shares of Pfizer in a research report on Wednesday. Finally, Argus cut Pfizer from a “buy” rating to a “hold” rating in a research report on Friday, March 22nd. Nine analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $35.54.

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.