The Teacher Retirement System of Texas has significantly increased its investment in Pfizer Inc. (NYSE:PFE – Free Report) by 32.3% during the third quarter, as revealed in its recent filing with the Securities and Exchange Commission (SEC). The organization now possesses 2,764,113 shares of Pfizer, with the total value amounting to approximately $70.43 million after acquiring an additional 675,419 shares throughout the quarter.
This notable uptick in holdings aligns with similar actions taken by other hedge funds. Brighton Jones LLC made headlines by expanding its position in Pfizer by an astonishing 1,282.4% in the fourth quarter, resulting in ownership of 666,318 shares valued at around $17.68 million after an additional purchase of 618,117 shares. Meanwhile, Revolve Wealth Partners LLC enhanced its stake by 12.5%, acquiring 2,087 shares and bringing its total to 18,766 shares valued at $498,000.
Further illustrating growing institutional interest, Accurate Wealth Management LLC, Norden Group LLC, and Ballentine Partners LLC also bolstered their positions in Pfizer during the second quarter. Collectively, institutional investors and hedge funds now control approximately 68.36% of Pfizer’s stock.
Pfizer’s stock performance recently opened at $26.09, having experienced a year low of $20.92 and a high of $27.69. The company maintains a market capitalization of $148.34 billion, a debt-to-equity ratio of 0.62, and continues to exhibit a modest growth trajectory despite the competitive landscape.
On November 4, Pfizer reported its quarterly earnings, announcing earnings per share of $0.87, surpassing analysts’ expectations of $0.79. The company generated $16.65 billion in revenue for the quarter, while setting a guidance of $3.000-3.150 EPS for fiscal year 2025 amid current earnings forecasts of 2.95 EPS for this year.
Additionally, Pfizer declared a quarterly dividend of $0.43, scheduled to be paid on March 6, with a dividend yield of 6.6%. This consistent return to investors demonstrates the company’s commitment to maintaining shareholder value while navigating market challenges.
Recent analyst reports show a mix of opinions, with some maintaining a “buy” rating, while others have adjusted their expectations downwards. The consensus rating is currently “Hold” with an average target price of $27.88, reflecting a cautious approach as the market assesses Pfizer’s future potential.
As Pfizer continues to innovate within the biopharmaceutical space, its extensive pipeline encompasses various therapeutic areas, providing a foundation for sustained growth and resilience in an evolving healthcare environment. This ongoing investment and faith from institutional partners bode well for Pfizer’s future, positioning it as a key player in addressing health challenges globally.