TIAA Trust National Association Lowers Stock Position in Pfizer Inc. (NYSE:PFE)

TIAA Trust National Association trimmed its position in Pfizer Inc. (NYSE:PFE) by 9.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 405,240 shares of the biopharmaceutical company’s stock after selling 41,107 shares during the quarter. TIAA Trust National Association’s holdings in Pfizer were worth $10,751,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. United Bank lifted its stake in shares of Pfizer by 3.7% during the 3rd quarter. United Bank now owns 35,599 shares of the biopharmaceutical company’s stock valued at $1,030,000 after buying an additional 1,277 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Pfizer by 67.4% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 14,801 shares of the biopharmaceutical company’s stock valued at $428,000 after acquiring an additional 5,959 shares in the last quarter. Fisher Asset Management LLC boosted its stake in shares of Pfizer by 226.7% in the third quarter. Fisher Asset Management LLC now owns 6,209,907 shares of the biopharmaceutical company’s stock worth $179,715,000 after acquiring an additional 4,309,076 shares during the period. Loomis Sayles & Co. L P grew its position in shares of Pfizer by 7.3% during the third quarter. Loomis Sayles & Co. L P now owns 8,450 shares of the biopharmaceutical company’s stock worth $245,000 after purchasing an additional 577 shares in the last quarter. Finally, Brown Brothers Harriman & Co. grew its position in shares of Pfizer by 3.0% during the third quarter. Brown Brothers Harriman & Co. now owns 210,927 shares of the biopharmaceutical company’s stock worth $6,104,000 after purchasing an additional 6,232 shares in the last quarter. Institutional investors own 68.36% of the company’s stock.

Pfizer Stock Performance

NYSE:PFE opened at $25.56 on Wednesday. The firm has a market capitalization of $144.96 billion, a PE ratio of 18.13, a PEG ratio of 0.64 and a beta of 0.61. The stock’s fifty day moving average is $26.14 and its 200 day moving average is $27.00. Pfizer Inc. has a fifty-two week low of $24.48 and a fifty-two week high of $31.54. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.73 and a current ratio of 1.00.

Pfizer (NYSE:PFE) last announced its earnings results on Tuesday, February 4th. The biopharmaceutical company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.15. The business had revenue of $17.76 billion for the quarter, compared to the consensus estimate of $17.26 billion. Pfizer had a net margin of 12.62% and a return on equity of 19.47%. The business’s revenue for the quarter was up 24.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.10 earnings per share. On average, sell-side analysts anticipate that Pfizer Inc. will post 2.95 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on PFE. Guggenheim restated a “buy” rating on shares of Pfizer in a research note on Tuesday, March 18th. Bank of America reissued a “neutral” rating and issued a $29.00 target price on shares of Pfizer in a report on Tuesday, December 10th. UBS Group cut their target price on shares of Pfizer from $31.00 to $29.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. Truist Financial decreased their price target on shares of Pfizer from $36.00 to $32.00 and set a “buy” rating on the stock in a research note on Wednesday, December 18th. Finally, Citigroup cut their price objective on Pfizer from $30.00 to $29.00 and set a “neutral” rating for the company in a research report on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, six have issued a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $31.92.

Insider Activity

In related news, Director Ronald E. Blaylock purchased 19,457 shares of the business’s stock in a transaction that occurred on Thursday, February 13th. The stock was bought at an average price of $25.65 per share, with a total value of $499,072.05. Following the acquisition, the director now owns 27,707 shares in the company, valued at $710,684.55. The trade was a 235.84 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.06% of the company’s stock.

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.