Pfizer Inc. (NYSE:PFE) Stock Position Reduced by Mitsubishi UFJ Trust & Banking Corp

Key Points

• Mitsubishi UFJ Trust & Banking Corp has reduced its holdings in Pfizer Inc. by 2.7% in the first quarter, now owning 2,762,162 shares valued at approximately $69.99 million.
• Several institutional investors significantly increased their stakes in Pfizer, with Brighton Jones LLC boosting its position by 1,282.4% during the fourth quarter.
• Wall Street analysts have mixed ratings for Pfizer, with an average price target of $28.28, as some firms have adjusted their ratings and price targets recently.

Mitsubishi UFJ Trust & Banking Corp trimmed its position in shares of Pfizer Inc. (NYSE:PFE - Free Report) by 2.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,762,162 shares of the biopharmaceutical company's stock after selling 75,210 shares during the period. Mitsubishi UFJ Trust & Banking Corp's holdings in Pfizer were worth $69,993,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in PFE. Clarity Asset Management Inc. acquired a new position in Pfizer during the 4th quarter worth $27,000. Gould Capital LLC grew its holdings in Pfizer by 97.2% during the 4th quarter. Gould Capital LLC now owns 1,000 shares of the biopharmaceutical company's stock worth $27,000 after acquiring an additional 493 shares in the last quarter. North Capital Inc. acquired a new position in Pfizer during the 1st quarter worth $28,000. Bayforest Capital Ltd acquired a new position in Pfizer during the 1st quarter worth $28,000. Finally, Bernard Wealth Management Corp. acquired a new position in Pfizer during the 4th quarter worth $30,000. 68.36% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Citigroup lifted their price target on shares of Pfizer from $23.00 to $25.00 and gave the company a "neutral" rating in a report on Wednesday, April 30th. Jefferies Financial Group lifted their price target on shares of Pfizer from $32.00 to $33.00 and gave the company a "buy" rating in a report on Wednesday, May 21st. Morgan Stanley lifted their price target on shares of Pfizer from $31.00 to $32.00 and gave the company an "equal weight" rating in a report on Wednesday, April 30th. Cantor Fitzgerald started coverage on shares of Pfizer in a report on Tuesday, April 22nd. They issued a "neutral" rating and a $24.00 price target for the company. Finally, UBS Group lifted their price objective on shares of Pfizer from $24.00 to $25.00 and gave the company a "neutral" rating in a research report on Wednesday, April 30th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, six have issued a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $28.28.

Pfizer Trading Up 0.9%

Shares of Pfizer stock traded up $0.20 during trading on Friday, hitting $23.49. The stock had a trading volume of 51,287,529 shares, compared to its average volume of 40,584,816. The stock has a 50 day simple moving average of $24.36 and a 200 day simple moving average of $24.55. The company has a market capitalization of $133.55 billion, a PE ratio of 17.02, a P/E/G ratio of 0.85 and a beta of 0.52. The company has a quick ratio of 0.96, a current ratio of 1.26 and a debt-to-equity ratio of 0.64. Pfizer Inc. has a 1 year low of $20.92 and a 1 year high of $31.32.

Pfizer Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Friday, July 25th will be given a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 7.3%. The ex-dividend date of this dividend is Friday, July 25th. Pfizer's dividend payout ratio (DPR) is 124.64%.

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.