Parallel Advisors LLC Trims Stock Holdings in Pfizer Inc. (NYSE:PFE)

Parallel Advisors LLC lessened its position in shares of Pfizer Inc. (NYSE:PFE) by 23.6% during the 4th quarter, Holdings Channel reports. The firm owned 95,046 shares of the biopharmaceutical company’s stock after selling 29,377 shares during the quarter. Parallel Advisors LLC’s holdings in Pfizer were worth $2,522,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Cibc World Markets Corp boosted its position in Pfizer by 17.3% in the fourth quarter. Cibc World Markets Corp now owns 902,242 shares of the biopharmaceutical company’s stock valued at $23,936,000 after buying an additional 133,084 shares during the last quarter. Creative Financial Designs Inc. ADV lifted its stake in Pfizer by 4.7% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 44,882 shares of the biopharmaceutical company’s stock valued at $1,191,000 after acquiring an additional 2,023 shares during the period. IMG Wealth Management Inc. purchased a new stake in shares of Pfizer in the 4th quarter valued at $76,000. SlateStone Wealth LLC increased its stake in shares of Pfizer by 5.7% in the fourth quarter. SlateStone Wealth LLC now owns 9,497 shares of the biopharmaceutical company’s stock worth $252,000 after acquiring an additional 508 shares during the period. Finally, GWN Securities Inc. purchased a new position in shares of Pfizer during the fourth quarter worth $1,633,000. 68.36% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Pfizer

In other Pfizer news, Director Ronald E. Blaylock bought 19,457 shares of the firm’s stock in a transaction on Thursday, February 13th. The shares were acquired at an average cost of $25.65 per share, with a total value of $499,072.05. Following the purchase, the director now directly owns 27,707 shares of the company’s stock, valued at $710,684.55. This trade represents a 235.84 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.06% of the company’s stock.

Pfizer Price Performance

NYSE:PFE opened at $26.31 on Wednesday. The stock has a 50 day moving average of $26.21 and a two-hundred day moving average of $27.09. Pfizer Inc. has a 12 month low of $24.48 and a 12 month high of $31.54. The firm has a market cap of $149.09 billion, a P/E ratio of 18.66, a price-to-earnings-growth ratio of 0.64 and a beta of 0.61. The company has a current ratio of 1.00, a quick ratio of 0.73 and a debt-to-equity ratio of 0.63.

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

Analysts Set New Price Targets

PFE has been the topic of several analyst reports. Citigroup cut their price target on Pfizer from $30.00 to $29.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 28th. StockNews.com cut Pfizer from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, November 20th. Truist Financial lowered their price objective on Pfizer from $36.00 to $32.00 and set a “buy” rating on the stock in a research report on Wednesday, December 18th. Bank of America reaffirmed a “neutral” rating and set a $29.00 target price on shares of Pfizer in a report on Tuesday, December 10th. Finally, Hsbc Global Res raised shares of Pfizer to a “strong-buy” rating in a report on Monday, March 10th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $31.92.

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.