TCW Group Inc. reduced its stake in shares of Pfizer Inc. (NYSE:PFE – Free Report) by 1.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,669,765 shares of the biopharmaceutical company’s stock after selling 43,819 shares during the period. TCW Group Inc.’s holdings in Pfizer were worth $64,288,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of PFE. Norges Bank bought a new stake in Pfizer in the fourth quarter valued at $1,830,986,000. Morgan Stanley increased its stake in Pfizer by 19.2% in the 4th quarter. Morgan Stanley now owns 89,113,604 shares of the biopharmaceutical company’s stock worth $2,218,929,000 after purchasing an additional 14,342,946 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Pfizer by 38.9% during the 4th quarter. Bank of New York Mellon Corp now owns 48,514,971 shares of the biopharmaceutical company’s stock valued at $1,208,023,000 after purchasing an additional 13,581,757 shares during the period. Janus Henderson Group PLC lifted its position in shares of Pfizer by 577.5% in the fourth quarter. Janus Henderson Group PLC now owns 8,786,084 shares of the biopharmaceutical company’s stock worth $218,817,000 after purchasing an additional 7,489,189 shares in the last quarter. Finally, Capital World Investors boosted its position in Pfizer by 51.5% during the fourth quarter. Capital World Investors now owns 21,433,890 shares of the biopharmaceutical company’s stock valued at $533,704,000 after purchasing an additional 7,287,194 shares during the last quarter. Institutional investors and hedge funds own 68.36% of the company’s stock.
Pfizer Stock Performance
PFE opened at $26.88 on Tuesday. Pfizer Inc. has a 1 year low of $23.58 and a 1 year high of $28.75. The business has a fifty day simple moving average of $25.15 and a 200 day simple moving average of $26.20. The company has a market capitalization of $153.21 billion, a PE ratio of 35.37 and a beta of 0.34. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.27 and a quick ratio of 0.96.
Pfizer Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, July 24th will be issued a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 6.4%. The ex-dividend date of this dividend is Friday, July 24th. Pfizer’s dividend payout ratio is presently 226.32%.
Wall Street Analyst Weigh In
A number of research analysts recently weighed in on PFE shares. Wall Street Zen raised Pfizer from a “hold” rating to a “buy” rating in a research note on Saturday, August 1st. Weiss Ratings reissued a “hold (c)” rating on shares of Pfizer in a report on Monday, August 3rd. JPMorgan Chase & Co. lowered their price target on shares of Pfizer from $30.00 to $28.00 and set a “neutral” rating for the company in a report on Wednesday, July 8th. Cantor Fitzgerald restated a “neutral” rating and set a $27.00 target price on shares of Pfizer in a report on Monday, July 6th. Finally, HSBC cut shares of Pfizer from a “buy” rating to a “hold” rating and cut their price objective for the company from $32.00 to $28.00 in a research report on Monday, July 6th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, fourteen have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $28.28.
Read Our Latest Stock Report on Pfizer
About Pfizer
Pfizer Inc (NYSE: PFE) is a multinational biopharmaceutical company headquartered in New York City. Founded in 1849 by Charles Pfizer and Charles Erhart, the company researches, develops, manufactures and commercializes a broad range of medicines and vaccines for human health. Its activities span discovery research, clinical development, regulatory affairs, manufacturing and global commercial distribution across multiple therapeutic areas.
Pfizer’s portfolio and pipeline cover oncology, immunology, cardiology, endocrinology, rare diseases, hospital acute care and anti-infectives, along with a substantial vaccine business.
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