Summitry LLC Invests $228,000 in Pfizer Inc. (NYSE:PFE)

Summitry LLC purchased a new stake in Pfizer Inc. (NYSE:PFE) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 8,595 shares of the biopharmaceutical company’s stock, valued at approximately $228,000.

Several other institutional investors have also recently bought and sold shares of the stock. United Bank lifted its stake in shares of Pfizer by 3.7% during the third quarter. United Bank now owns 35,599 shares of the biopharmaceutical company’s stock valued at $1,030,000 after acquiring an additional 1,277 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its position in Pfizer by 67.4% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 14,801 shares of the biopharmaceutical company’s stock valued at $428,000 after purchasing an additional 5,959 shares during the period. Fisher Asset Management LLC boosted its stake in shares of Pfizer by 226.7% in the 3rd quarter. Fisher Asset Management LLC now owns 6,209,907 shares of the biopharmaceutical company’s stock valued at $179,715,000 after purchasing an additional 4,309,076 shares during the last quarter. Loomis Sayles & Co. L P grew its position in shares of Pfizer by 7.3% during the 3rd quarter. Loomis Sayles & Co. L P now owns 8,450 shares of the biopharmaceutical company’s stock worth $245,000 after buying an additional 577 shares during the period. Finally, Brown Brothers Harriman & Co. raised its stake in shares of Pfizer by 3.0% during the third quarter. Brown Brothers Harriman & Co. now owns 210,927 shares of the biopharmaceutical company’s stock worth $6,104,000 after buying an additional 6,232 shares during the last quarter. Institutional investors own 68.36% of the company’s stock.

Insiders Place Their Bets

In other news, Director Ronald E. Blaylock bought 19,457 shares of the company’s stock in a transaction dated Thursday, February 13th. The shares were bought at an average cost of $25.65 per share, with a total value of $499,072.05. Following the acquisition, the director now owns 27,707 shares in the company, valued at $710,684.55. This trade represents a 235.84 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on PFE shares. Guggenheim reaffirmed a “buy” rating on shares of Pfizer in a research note on Tuesday, March 18th. Truist Financial decreased their price objective on Pfizer from $36.00 to $32.00 and set a “buy” rating for the company in a research note on Wednesday, December 18th. UBS Group cut their target price on Pfizer from $31.00 to $29.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Citigroup decreased their target price on Pfizer from $30.00 to $29.00 and set a “neutral” rating for the company in a research report on Tuesday, January 28th. Finally, Bank of America reiterated a “neutral” rating and issued a $29.00 price target on shares of Pfizer in a research report on Tuesday, December 10th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, six have given a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $31.92.

Pfizer Price Performance

Shares of NYSE PFE opened at $25.56 on Wednesday. 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 business has a 50-day moving average of $26.14 and a 200-day moving average of $27.00. The stock has a market capitalization of $144.96 billion, a price-to-earnings ratio of 18.13, a PEG ratio of 0.64 and a beta of 0.61. Pfizer Inc. has a fifty-two week low of $24.48 and a fifty-two week high of $31.54.

Pfizer (NYSE:PFE) last posted its quarterly 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 the consensus estimate of $17.26 billion. Pfizer had a return on equity of 19.47% and a net margin of 12.62%. The business’s revenue was up 24.7% compared to the same quarter last year. During the same period last year, the company earned $0.10 earnings per share. As a group, sell-side analysts predict that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.

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.