Modern Wealth Management LLC Buys 13,865 Shares of Pfizer Inc. (NYSE:PFE)

Modern Wealth Management LLC boosted its stake in Pfizer Inc. (NYSE:PFE) by 48.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 42,336 shares of the biopharmaceutical company’s stock after purchasing an additional 13,865 shares during the period. Modern Wealth Management LLC’s holdings in Pfizer were worth $1,095,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Retirement Wealth Solutions LLC bought a new position in shares of Pfizer in the 4th quarter worth approximately $26,000. Rialto Wealth Management LLC purchased a new position in shares of Pfizer during the 4th quarter worth $26,000. Kohmann Bosshard Financial Services LLC bought a new stake in shares of Pfizer during the 4th quarter valued at $28,000. Noble Wealth Management PBC purchased a new stake in shares of Pfizer in the 4th quarter worth $31,000. Finally, Curio Wealth LLC bought a new position in Pfizer in the 4th quarter worth $32,000. 68.36% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PFE has been the subject of several recent research reports. Citigroup cut their price target on Pfizer from $30.00 to $29.00 and set a “neutral” rating for the company in a report on Tuesday, January 28th. Hsbc Global Res raised shares of Pfizer to a “strong-buy” rating in a report on Monday, March 10th. Truist Financial dropped their price target on shares of Pfizer from $36.00 to $32.00 and set a “buy” rating for the company in a research report on Wednesday, December 18th. Bank of America restated a “neutral” rating and set a $29.00 price objective on shares of Pfizer in a research report on Tuesday, December 10th. Finally, UBS Group dropped their target price on shares of Pfizer from $31.00 to $29.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have issued a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Pfizer currently has an average rating of “Moderate Buy” and a consensus price target of $31.92.

Pfizer Stock Performance

NYSE PFE opened at $25.19 on Thursday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.00 and a quick ratio of 0.73. Pfizer Inc. has a 1-year low of $24.48 and a 1-year high of $31.54. The business has a 50 day simple moving average of $26.12 and a two-hundred day simple moving average of $26.98. The stock has a market capitalization of $142.88 billion, a PE ratio of 17.87, a P/E/G ratio of 0.64 and a beta of 0.61.

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

Insider Transactions at Pfizer

In related news, Director Ronald E. Blaylock purchased 19,457 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The stock was bought at an average price of $25.65 per share, for a total transaction of $499,072.05. Following the completion of the transaction, the director now owns 27,707 shares in the company, valued at approximately $710,684.55. The trade was a 235.84 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.06% of the company’s stock.

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.