State of Alaska Department of Revenue Has $18.70 Million Holdings in Pfizer Inc. $PFE

Key Points

• The State of Alaska Department of Revenue reduced its Pfizer Inc. holdings by 3.2%, leaving it with 771,283 shares valued at approximately $18.7 million.
• Wall Street analysts have adjusted their price targets for Pfizer, with Bank of America and Citigroup setting it at $28.00 and $26.00, respectively, while Morgan Stanley raised it to $33.00.
• In its latest earnings report, Pfizer reported a $0.78 EPS, exceeding expectations, with revenues of $14.65 billion, a 10.3% increase year-over-year.

State of Alaska Department of Revenue trimmed its stake in shares of Pfizer Inc. (NYSE:PFE - Free Report) by 3.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 771,283 shares of the biopharmaceutical company's stock after selling 25,270 shares during the period. State of Alaska Department of Revenue's holdings in Pfizer were worth $18,695,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Capital Advisory Group Advisory Services LLC lifted its position in shares of Pfizer by 2.9% during the second quarter. Capital Advisory Group Advisory Services LLC now owns 13,542 shares of the biopharmaceutical company's stock worth $328,000 after purchasing an additional 388 shares in the last quarter. Trust Co of the South lifted its position in shares of Pfizer by 1.5% during the second quarter. Trust Co of the South now owns 29,386 shares of the biopharmaceutical company's stock worth $712,000 after purchasing an additional 441 shares in the last quarter. Charter Oak Capital Management LLC lifted its position in shares of Pfizer by 4.3% during the second quarter. Charter Oak Capital Management LLC now owns 10,663 shares of the biopharmaceutical company's stock worth $258,000 after purchasing an additional 444 shares in the last quarter. Ballentine Partners LLC lifted its position in shares of Pfizer by 0.5% during the second quarter. Ballentine Partners LLC now owns 93,228 shares of the biopharmaceutical company's stock worth $2,260,000 after purchasing an additional 458 shares in the last quarter. Finally, Members Trust Co lifted its position in shares of Pfizer by 2.1% during the first quarter. Members Trust Co now owns 23,175 shares of the biopharmaceutical company's stock worth $587,000 after purchasing an additional 467 shares in the last quarter. 68.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on PFE. Bank of America boosted their price target on shares of Pfizer from $27.00 to $28.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 6th. Citigroup boosted their price target on shares of Pfizer from $25.00 to $26.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 6th. Morgan Stanley boosted their price target on shares of Pfizer from $32.00 to $33.00 and gave the stock an "equal weight" rating in a research note on Wednesday, August 6th. Finally, Wall Street Zen raised shares of Pfizer from a "hold" rating to a "buy" rating in a research note on Saturday, September 20th. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $28.12.

Pfizer Stock Up 0.6%

Shares of NYSE:PFE opened at $23.75 on Friday. Pfizer Inc. has a 52 week low of $20.92 and a 52 week high of $30.43. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.85 and a current ratio of 1.16. The company has a market capitalization of $135.03 billion, a PE ratio of 12.63, a PEG ratio of 0.76 and a beta of 0.55. The company has a 50 day moving average price of $24.55 and a two-hundred day moving average price of $24.14.

Pfizer (NYSE:PFE - Get Free Report) last issued its earnings results on Tuesday, August 5th. The biopharmaceutical company reported $0.78 EPS for the quarter, beating the consensus estimate of $0.58 by $0.20. Pfizer had a net margin of 16.84% and a return on equity of 21.42%. The firm had revenue of $14.65 billion during the quarter, compared to the consensus estimate of $13.43 billion. During the same quarter in the prior year, the firm earned $0.60 earnings per share. The business's quarterly revenue was up 10.3% on a year-over-year basis. Pfizer has set its FY 2025 guidance at 2.900-3.100 EPS. Analysts forecast that Pfizer Inc. will post 2.95 earnings per share for the current year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.