Ilmarinen Mutual Pension Insurance Co Purchases 155,000 Shares of Pfizer Inc. (NYSE:PFE)

Posted by Defense World Staff on Sep 13th, 2023

Ilmarinen Mutual Pension Insurance Co grew its position in Pfizer Inc. (NYSE:PFE – Free Report) by 30.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 660,000 shares of the biopharmaceutical company’s stock after acquiring an additional 155,000 shares during the period. Pfizer comprises about 0.4% of Ilmarinen Mutual Pension Insurance Co’s portfolio, making the stock its 28th largest holding. Ilmarinen Mutual Pension Insurance Co’s holdings in Pfizer were worth $26,928,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the company. BlackRock Inc. boosted its position in Pfizer by 0.6% during the first quarter. BlackRock Inc. now owns 445,384,893 shares of the biopharmaceutical company’s stock worth $18,171,704,000 after purchasing an additional 2,516,132 shares during the period. Wellington Management Group LLP lifted its stake in shares of Pfizer by 9.8% during the 1st quarter. Wellington Management Group LLP now owns 218,931,933 shares of the biopharmaceutical company’s stock worth $8,932,423,000 after buying an additional 19,602,359 shares during the last quarter. Moneta Group Investment Advisors LLC boosted its holdings in shares of Pfizer by 89,592.7% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 161,143,638 shares of the biopharmaceutical company’s stock worth $8,257,000,000 after buying an additional 160,963,976 shares during the period. Geode Capital Management LLC grew its stake in Pfizer by 0.5% in the 1st quarter. Geode Capital Management LLC now owns 109,852,779 shares of the biopharmaceutical company’s stock valued at $4,472,433,000 after buying an additional 577,201 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Pfizer by 14.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 83,901,181 shares of the biopharmaceutical company’s stock valued at $3,408,836,000 after acquiring an additional 10,560,702 shares during the period. 68.05% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently commented on PFE shares. StockNews.com began coverage on Pfizer in a research report on Thursday, August 17th. They issued a “hold” rating on the stock. Truist Financial lowered their price objective on Pfizer from $64.00 to $62.00 and set a “buy” rating on the stock in a research report on Wednesday, August 2nd. Credit Suisse Group cut shares of Pfizer from an “outperform” rating to a “neutral” rating and reduced their target price for the company from $47.00 to $40.00 in a research report on Thursday, June 29th. BMO Capital Markets lowered their price target on shares of Pfizer from $45.00 to $44.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 2nd. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $75.00 target price on shares of Pfizer in a report on Tuesday, September 5th. Twelve investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $46.35.

Read Our Latest Stock Analysis on PFE

Pfizer Stock Performance

Shares of PFE stock opened at $34.15 on Wednesday. The firm has a market capitalization of $192.81 billion, a price-to-earnings ratio of 9.08, a PEG ratio of 1.14 and a beta of 0.59. The company has a current ratio of 2.12, a quick ratio of 1.82 and a debt-to-equity ratio of 0.62. The business’s 50-day moving average price is $35.90 and its 200-day moving average price is $38.09. Pfizer Inc. has a 12 month low of $33.54 and a 12 month high of $54.93.

Pfizer (NYSE:PFE – Get Free Report) last posted its earnings results on Tuesday, August 1st. The biopharmaceutical company reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.10. The firm had revenue of $12.73 billion for the quarter, compared to analyst estimates of $13.36 billion. Pfizer had a net margin of 27.55% and a return on equity of 28.36%. The company’s revenue for the quarter was down 54.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.04 EPS. Equities research analysts forecast that Pfizer Inc. will post 3.33 EPS for the current year.

Pfizer Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 5th. Stockholders of record on Friday, July 28th were paid a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 4.80%. The ex-dividend date of this dividend was Thursday, July 27th. Pfizer’s dividend payout ratio is currently 43.62%.

Pfizer Company Profile

(Free Report)

Pfizer Inc discovers, develops, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It offers medicines and vaccines in various therapeutic areas, including cardiovascular metabolic, migraine, and women's health under the Eliquis, Nurtec ODT/Vydura, and the Premarin family brands; infectious diseases with unmet medical needs under the Prevnar family, 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.