Mutual of America Capital Management LLC Has $19.97 Million Position in Pfizer Inc. (NYSE:PFE)

by · The Markets Daily

Mutual of America Capital Management LLC lowered its position in Pfizer Inc. (NYSE:PFE – Free Report) by 3.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 713,777 shares of the biopharmaceutical company’s stock after selling 25,729 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Pfizer were worth $19,971,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Wellington Management Group LLP increased its stake in shares of Pfizer by 4.9% in the fourth quarter. Wellington Management Group LLP now owns 239,209,768 shares of the biopharmaceutical company’s stock valued at $6,886,849,000 after buying an additional 11,099,024 shares during the period. Massachusetts Financial Services Co. MA increased its stake in shares of Pfizer by 3.2% in the second quarter. Massachusetts Financial Services Co. MA now owns 71,794,056 shares of the biopharmaceutical company’s stock valued at $2,008,798,000 after buying an additional 2,241,609 shares during the period. Van ECK Associates Corp increased its position in Pfizer by 1.8% during the 2nd quarter. Van ECK Associates Corp now owns 16,104,088 shares of the biopharmaceutical company’s stock valued at $450,593,000 after purchasing an additional 290,760 shares during the period. Federated Hermes Inc. increased its position in Pfizer by 3.3% during the 2nd quarter. Federated Hermes Inc. now owns 14,923,545 shares of the biopharmaceutical company’s stock valued at $417,561,000 after purchasing an additional 470,003 shares during the period. Finally, Envestnet Asset Management Inc. increased its position in Pfizer by 2.4% during the 2nd quarter. Envestnet Asset Management Inc. now owns 10,260,067 shares of the biopharmaceutical company’s stock valued at $287,077,000 after purchasing an additional 238,850 shares during the period. Institutional investors and hedge funds own 68.36% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on PFE. Daiwa Capital Markets raised shares of Pfizer from a “neutral” rating to an “outperform” rating and increased their target price for the company from $28.00 to $34.00 in a research report on Wednesday, August 7th. Cantor Fitzgerald reissued an “overweight” rating and set a $45.00 target price on shares of Pfizer in a research report on Monday. Daiwa America raised shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. Wells Fargo & Company increased their price target on Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 31st. Finally, Barclays increased their price target on Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 31st. Eight analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $34.54.

Check Out Our Latest Analysis on PFE

Pfizer Price Performance

Shares of PFE opened at $29.83 on Wednesday. Pfizer Inc. has a 12-month low of $25.20 and a 12-month high of $34.12. The business’s fifty day moving average is $29.30 and its 200 day moving average is $28.18. The company has a quick ratio of 0.60, a current ratio of 0.86 and a debt-to-equity ratio of 0.65. The stock has a market cap of $169.04 billion, a P/E ratio of -497.08, a P/E/G ratio of 1.02 and a beta of 0.68.

Pfizer (NYSE:PFE – Get Free Report) last released its quarterly earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.14. The business had revenue of $13.28 billion during the quarter, compared to analyst estimates of $12.96 billion. Pfizer had a positive return on equity of 8.42% and a negative net margin of 4.66%. Pfizer’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.67 EPS. Sell-side analysts anticipate that Pfizer Inc. will post 2.66 earnings per share for the current fiscal year.

Pfizer Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, July 26th were given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 5.63%. The ex-dividend date was Friday, July 26th. Pfizer’s payout ratio is currently -2,799.53%.

About Pfizer

(Free Report)

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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