Forefront Wealth Management Inc. Makes New Investment in Pfizer Inc. (NYSE:PFE)

Forefront Wealth Management Inc. acquired a new position in Pfizer Inc. (NYSE:PFE) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 20,891 shares of the biopharmaceutical company’s stock, valued at approximately $554,000.

Other institutional investors have also added to or reduced their stakes in the company. Retirement Wealth Solutions LLC purchased a new position in Pfizer in the fourth quarter valued at about $26,000. Rialto Wealth Management LLC purchased a new position in Pfizer in the fourth quarter valued at about $26,000. Kohmann Bosshard Financial Services LLC purchased a new position in Pfizer in the fourth quarter valued at about $28,000. Noble Wealth Management PBC purchased a new position in Pfizer in the fourth quarter valued at about $31,000. Finally, Curio Wealth LLC purchased a new position in Pfizer in the fourth quarter valued at about $32,000. 68.36% of the stock is owned by institutional investors.

Pfizer Stock Performance

NYSE PFE opened at $26.20 on Friday. Pfizer Inc. has a 1 year low of $24.48 and a 1 year high of $31.54. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.00 and a quick ratio of 0.73. The stock has a market capitalization of $148.61 billion, a PE ratio of 18.58, a P/E/G ratio of 0.64 and a beta of 0.61. The company’s 50 day simple moving average is $26.17 and its two-hundred day simple moving average is $27.05.

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

Insider Transactions at Pfizer

In related news, Director Ronald E. Blaylock purchased 19,457 shares of the firm’s stock in a transaction dated Thursday, February 13th. The shares were purchased at an average price of $25.65 per share, with a total value of $499,072.05. Following the acquisition, the director now directly owns 27,707 shares of the company’s stock, valued at approximately $710,684.55. This represents a 235.84 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Hsbc Global Res upgraded shares of Pfizer to a “strong-buy” rating in a research note on Monday, March 10th. Guggenheim reiterated a “buy” rating on shares of Pfizer in a research note on Tuesday. Citigroup dropped their price target on shares of Pfizer from $30.00 to $29.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 28th. Bank of America restated a “neutral” rating and set a $29.00 price target on shares of Pfizer in a research note on Tuesday, December 10th. Finally, UBS Group dropped their price target on shares of Pfizer from $31.00 to $29.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, six have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $31.92.

Pfizer Profile

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.