Mitsubishi UFJ Asset Management Co. Ltd. Buys 1,143,457 Shares of Pfizer Inc. (NYSE:PFE)

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Pfizer by 12.7%, acquiring an additional 1,143,457 shares, bringing its total holdings to over 10 million shares valued at approximately $257 million.
• Pfizer's stock currently has a consensus rating of "Moderate Buy" with a price target averaging $28.44, with various analysts issuing ratings ranging from sell to strong buy.
• The company recently reported earnings above analysts' expectations with a quarterly revenue of $14.65 billion and announced a dividend of $0.43 per share, representing a yield of 7.2%.

Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of Pfizer Inc. (NYSE:PFE - Free Report) by 12.7% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,156,464 shares of the biopharmaceutical company's stock after purchasing an additional 1,143,457 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.18% of Pfizer worth $257,365,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Clarity Asset Management Inc. bought a new stake in Pfizer in the 4th quarter worth approximately $27,000. Gould Capital LLC grew its holdings in shares of Pfizer by 97.2% in the fourth quarter. Gould Capital LLC now owns 1,000 shares of the biopharmaceutical company's stock valued at $27,000 after purchasing an additional 493 shares in the last quarter. Bayforest Capital Ltd bought a new stake in Pfizer in the first quarter worth $28,000. North Capital Inc. purchased a new stake in Pfizer during the first quarter valued at $28,000. Finally, Bernard Wealth Management Corp. bought a new position in Pfizer during the fourth quarter valued at $30,000. Hedge funds and other institutional investors own 68.36% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on PFE. Cantor Fitzgerald started coverage on shares of Pfizer in a research report on Tuesday, April 22nd. They set a "neutral" rating and a $24.00 target price on the stock. Berenberg Bank decreased their price objective on Pfizer from $28.00 to $25.00 and set a "hold" rating on the stock in a research report on Thursday, May 29th. UBS Group boosted their target price on Pfizer from $24.00 to $25.00 and gave the company a "neutral" rating in a research report on Wednesday, April 30th. HSBC reduced their target price on shares of Pfizer from $27.00 to $26.00 and set a "buy" rating on the stock in a research note on Monday, May 19th. Finally, The Goldman Sachs Group increased their price target on Pfizer from $25.00 to $27.00 and gave the stock a "neutral" rating in a report on Wednesday, April 30th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, six have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $28.44.

Pfizer Price Performance

Shares of NYSE PFE opened at $23.95 on Thursday. Pfizer Inc. has a 52 week low of $20.92 and a 52 week high of $30.43. The business's 50 day moving average price is $24.40 and its 200 day moving average price is $24.53. The company has a quick ratio of 0.96, a current ratio of 1.26 and a debt-to-equity ratio of 0.64. The firm has a market cap of $136.15 billion, a P/E ratio of 12.74, a P/E/G ratio of 0.90 and a beta of 0.52.

Pfizer (NYSE:PFE - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The biopharmaceutical company reported $0.78 earnings per share for the quarter, topping analysts' consensus estimates of $0.58 by $0.20. Pfizer had a net margin of 16.84% and a return on equity of 21.33%. The firm had revenue of $14.65 billion for the quarter, compared to analyst estimates of $13.43 billion. During the same quarter in the prior year, the business earned $0.60 earnings per share. The business's quarterly revenue was up 10.3% compared to the same quarter last year. On average, sell-side analysts expect that Pfizer Inc. will post 2.95 earnings per share for the current year.

Pfizer Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Friday, July 25th will be given a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 7.2%. The ex-dividend date is Friday, July 25th. Pfizer's dividend payout ratio is currently 124.64%.

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.

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