Pfizer Inc. (NYSE:PFE) Stake Decreased by Summit Global Investments

Summit Global Investments trimmed its holdings in Pfizer Inc. (NYSE:PFE) by 10.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,260 shares of the biopharmaceutical company’s stock after selling 1,531 shares during the quarter. Summit Global Investments’ holdings in Pfizer were worth $352,000 at the end of the most recent reporting period.

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

Pfizer Stock Performance

Shares of Pfizer stock opened at $26.13 on Tuesday. Pfizer Inc. has a 12 month low of $24.48 and a 12 month high of $31.54. The company has a quick ratio of 0.73, a current ratio of 1.00 and a debt-to-equity ratio of 0.63. The stock has a market cap of $148.21 billion, a PE ratio of 18.53, a price-to-earnings-growth ratio of 0.64 and a beta of 0.61. The business has a fifty day simple moving average of $26.15 and a 200-day simple moving average of $27.02.

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

Insider Buying and Selling at Pfizer

In related news, Director Ronald E. Blaylock purchased 19,457 shares of the company’s stock in a transaction dated 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 completion of the purchase, the director now owns 27,707 shares of the company’s stock, valued at $710,684.55. The trade was a 235.84 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

PFE has been the topic of a number of research analyst reports. Truist Financial lowered their price objective on shares of Pfizer from $36.00 to $32.00 and set a “buy” rating on the stock in a research note on Wednesday, December 18th. Bank of America reiterated a “neutral” rating and set a $29.00 price target on shares of Pfizer in a research report on Tuesday, December 10th. Guggenheim restated a “buy” rating on shares of Pfizer in a report on Tuesday, March 18th. Citigroup lowered their target price on Pfizer from $30.00 to $29.00 and set a “neutral” rating on the stock in a report on Tuesday, January 28th. 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, seven have given a hold rating, six have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus 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.