Nisa Investment Advisors LLC Trims Stock Position in Pfizer Inc. (NYSE:PFE)

Nisa Investment Advisors LLC lessened its holdings in shares of Pfizer Inc. (NYSE:PFE - Free Report) by 20.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,370,292 shares of the biopharmaceutical company's stock after selling 354,629 shares during the period. Nisa Investment Advisors LLC's holdings in Pfizer were worth $34,723,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of PFE. Norges Bank purchased a new position in Pfizer in the fourth quarter valued at about $2,328,986,000. Starboard Value LP purchased a new stake in Pfizer during the fourth quarter valued at approximately $407,730,000. Assenagon Asset Management S.A. boosted its stake in Pfizer by 307.5% in the first quarter. Assenagon Asset Management S.A. now owns 10,046,340 shares of the biopharmaceutical company's stock valued at $254,574,000 after acquiring an additional 7,581,030 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Pfizer by 7.5% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 76,502,238 shares of the biopharmaceutical company's stock worth $2,029,604,000 after purchasing an additional 5,350,381 shares during the last quarter. Finally, APG Asset Management N.V. boosted its holdings in Pfizer by 1,106.0% in the fourth quarter. APG Asset Management N.V. now owns 5,619,213 shares of the biopharmaceutical company's stock worth $143,967,000 after acquiring an additional 5,153,257 shares in the last quarter. Institutional investors own 68.36% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on PFE shares. Morgan Stanley raised their target price on shares of Pfizer from $31.00 to $32.00 and gave the stock an "equal weight" rating in a report on Wednesday, April 30th. The Goldman Sachs Group raised their target price on Pfizer from $25.00 to $27.00 and gave the stock a "neutral" rating in a report on Wednesday, April 30th. Wolfe Research lifted their price objective on shares of Pfizer from $22.00 to $23.00 and gave the company an "underperform" rating in a report on Wednesday, April 30th. Guggenheim reiterated a "buy" rating on shares of Pfizer in a research report on Tuesday, March 18th. Finally, Citigroup boosted their price objective on Pfizer from $23.00 to $25.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 30th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, six have given a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $28.55.

Pfizer Trading Down 0.2%

Shares of PFE stock traded down $0.06 during trading hours on Wednesday, hitting $25.56. The company had a trading volume of 38,339,365 shares, compared to its average volume of 41,804,116. Pfizer Inc. has a fifty-two week low of $20.92 and a fifty-two week high of $31.54. The company's fifty day moving average is $23.80 and its 200 day moving average is $24.81. The stock has a market capitalization of $145.32 billion, a PE ratio of 18.52, a price-to-earnings-growth ratio of 0.93 and a beta of 0.58. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.26 and a quick ratio of 0.96.

Pfizer (NYSE:PFE - Get Free Report) last announced its earnings results on Tuesday, April 29th. The biopharmaceutical company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.25. The firm had revenue of $13.72 billion for the quarter, compared to the consensus estimate of $14.43 billion. Pfizer had a net margin of 12.62% and a return on equity of 20.33%. The firm's revenue for the quarter was down 7.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.82 EPS. Research analysts expect that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.

Pfizer Announces Dividend

The company 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 dividend on an annualized basis and a dividend yield of 6.73%. The ex-dividend date is Friday, July 25th. Pfizer's dividend payout ratio is presently 124.64%.

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.