TIAA Trust National Association Reduces Holdings in Pfizer Inc. (NYSE:PFE)

Key Points

• TIAA Trust National Association reduced its holdings in Pfizer Inc. by 8.0% in the first quarter, now owning 372,705 shares worth approximately $9.44 million.
• Several hedge funds increased their stakes in Pfizer, notably Pacer Advisors Inc. which boosted its position by 856.8% during the first quarter.
• Pfizer recently announced a quarterly dividend of $0.43, reflecting an annualized dividend yield of 7.3%.

TIAA Trust National Association decreased its position in Pfizer Inc. (NYSE:PFE - Free Report) by 8.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 372,705 shares of the biopharmaceutical company's stock after selling 32,535 shares during the period. TIAA Trust National Association's holdings in Pfizer were worth $9,444,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Northern Trust Corp grew its stake in shares of Pfizer by 7.7% in the 4th quarter. Northern Trust Corp now owns 58,382,560 shares of the biopharmaceutical company's stock valued at $1,548,889,000 after buying an additional 4,167,222 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Pfizer by 3.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 39,402,619 shares of the biopharmaceutical company's stock worth $1,045,351,000 after purchasing an additional 1,333,740 shares during the period. Invesco Ltd. boosted its position in shares of Pfizer by 9.6% during the 4th quarter. Invesco Ltd. now owns 29,458,139 shares of the biopharmaceutical company's stock worth $781,524,000 after purchasing an additional 2,579,455 shares during the period. Pacer Advisors Inc. boosted its position in shares of Pfizer by 856.8% during the 1st quarter. Pacer Advisors Inc. now owns 20,053,828 shares of the biopharmaceutical company's stock worth $508,164,000 after purchasing an additional 17,957,928 shares during the period. Finally, Federated Hermes Inc. boosted its position in shares of Pfizer by 22.2% during the 1st quarter. Federated Hermes Inc. now owns 17,592,709 shares of the biopharmaceutical company's stock worth $445,799,000 after purchasing an additional 3,201,087 shares during the period. Hedge funds and other institutional investors own 68.36% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Jefferies Financial Group increased their price objective on shares of Pfizer from $32.00 to $33.00 and gave the stock a "buy" rating in a research report on Wednesday, May 21st. Cantor Fitzgerald assumed coverage on shares of Pfizer in a research report on Tuesday, April 22nd. They set a "neutral" rating and a $24.00 price objective for the company. HSBC lowered their price objective on shares of Pfizer from $27.00 to $26.00 and set a "buy" rating for the company in a research report on Monday, May 19th. UBS Group increased their price objective on shares of Pfizer from $24.00 to $25.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 30th. Finally, Morgan Stanley raised their price target on shares of Pfizer from $31.00 to $32.00 and gave the company an "equal weight" 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 assigned a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, Pfizer currently has a consensus rating of "Moderate Buy" and an average price target of $28.28.

Pfizer Price Performance

Shares of PFE opened at $23.49 on Friday. Pfizer Inc. has a twelve month low of $20.92 and a twelve month high of $31.32. The firm's fifty day simple moving average is $24.36 and its 200-day simple moving average is $24.57. The firm has a market capitalization of $133.55 billion, a price-to-earnings ratio of 17.02, a PEG ratio of 0.85 and a beta of 0.52. The company has a current ratio of 1.26, a quick ratio of 0.96 and a debt-to-equity ratio of 0.64.

Pfizer Dividend Announcement

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