Pfizer Inc. (NYSE:PFE) Holdings Cut by CIBC Private Wealth Group LLC

CIBC Private Wealth Group LLC trimmed its stake in shares of Pfizer Inc. (NYSE:PFE) by 24.6% during the fourth quarter, Holdings Channel reports. The firm owned 978,632 shares of the biopharmaceutical company’s stock after selling 319,361 shares during the period. CIBC Private Wealth Group LLC’s holdings in Pfizer were worth $26,286,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Norges Bank acquired a new stake in Pfizer in the fourth quarter worth $2,328,986,000. Charles Schwab Investment Management Inc. lifted its position in Pfizer by 19.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 155,459,101 shares of the biopharmaceutical company’s stock valued at $4,124,330,000 after purchasing an additional 25,315,159 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Pfizer during the 4th quarter valued at about $274,694,000. Fisher Asset Management LLC grew its position in Pfizer by 79.5% in the 4th quarter. Fisher Asset Management LLC now owns 11,148,116 shares of the biopharmaceutical company’s stock worth $295,760,000 after purchasing an additional 4,938,209 shares during the last quarter. Finally, Van ECK Associates Corp increased its stake in shares of Pfizer by 28.5% in the fourth quarter. Van ECK Associates Corp now owns 21,286,805 shares of the biopharmaceutical company’s stock valued at $564,739,000 after purchasing an additional 4,726,549 shares during the period. Institutional investors own 68.36% of the company’s stock.

Insiders Place Their Bets

In other news, Director Ronald E. Blaylock purchased 19,457 shares of the business’s stock in a transaction dated Thursday, February 13th. The shares were acquired at an average price of $25.65 per share, for a total transaction of $499,072.05. Following the completion of the acquisition, the director now directly owns 27,707 shares of the company’s stock, valued at $710,684.55. The trade was a 235.84 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.06% of the company’s stock.

Pfizer Price Performance

NYSE PFE opened at $25.36 on Tuesday. Pfizer Inc. has a 1 year low of $24.48 and a 1 year high of $31.54. The business’s fifty day moving average is $26.05 and its two-hundred day moving average is $26.88. The stock has a market capitalization of $143.80 billion, a P/E ratio of 17.98, a P/E/G ratio of 0.64 and a beta of 0.61. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.73 and a current ratio of 1.00.

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

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on PFE. Hsbc Global Res upgraded Pfizer to a “strong-buy” rating in a research report on Monday, March 10th. Guggenheim reissued a “buy” rating on shares of Pfizer in a research note on Tuesday, March 18th. Citigroup cut their price objective 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 reaffirmed a “neutral” rating and issued a $29.00 price objective on shares of Pfizer in a report on Tuesday, December 10th. Finally, Truist Financial dropped their price target on shares of Pfizer from $36.00 to $32.00 and set a “buy” rating on the stock in a research report on Wednesday, December 18th. 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. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target 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.