Pictet Asset Management Holding SA Has $66.25 Million Position in Pfizer Inc. (NYSE:PFE)

Pictet Asset Management Holding SA trimmed its holdings in shares of Pfizer Inc. (NYSE:PFE) by 2.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,497,107 shares of the biopharmaceutical company’s stock after selling 59,824 shares during the period. Pictet Asset Management Holding SA’s holdings in Pfizer were worth $66,248,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of PFE. Vanguard Group Inc. grew its stake in Pfizer by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 518,535,151 shares of the biopharmaceutical company’s stock valued at $13,756,738,000 after purchasing an additional 2,285,276 shares in the last quarter. State Street Corp boosted its holdings in shares of Pfizer by 1.2% in the 3rd quarter. State Street Corp now owns 290,460,600 shares of the biopharmaceutical company’s stock valued at $8,405,930,000 after buying an additional 3,405,539 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Pfizer by 19.5% in the fourth 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 buying an additional 25,315,159 shares in the last quarter. Geode Capital Management LLC increased its holdings in Pfizer by 1.6% during the third quarter. Geode Capital Management LLC now owns 117,666,245 shares of the biopharmaceutical company’s stock worth $3,392,342,000 after buying an additional 1,855,419 shares during the last quarter. Finally, Norges Bank bought a new stake in Pfizer during the fourth quarter worth $2,328,986,000. Institutional investors own 68.36% of the company’s stock.

Pfizer Price Performance

Pfizer stock opened at $25.20 on Friday. The firm has a market cap of $142.93 billion, a PE ratio of 17.87, a price-to-earnings-growth ratio of 0.64 and a beta of 0.61. 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’s fifty day moving average price is $26.06 and its two-hundred day moving average price is $26.92. Pfizer Inc. has a one year low of $24.48 and a one year high of $31.54.

Pfizer (NYSE:PFE) last posted its quarterly earnings results on Tuesday, February 4th. The biopharmaceutical company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.15. The business 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%. Pfizer’s revenue for the quarter was up 24.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.10 earnings per share. As a group, research analysts expect that Pfizer Inc. will post 2.95 EPS for the current fiscal year.

Insider Transactions at Pfizer

In other news, Director Ronald E. Blaylock acquired 19,457 shares of the stock in a transaction on Thursday, February 13th. The stock was acquired at an average cost of $25.65 per share, for a total transaction of $499,072.05. Following the completion of the transaction, the director now directly owns 27,707 shares in the company, valued at approximately $710,684.55. This trade represents a 235.84 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 0.06% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PFE. Guggenheim restated a “buy” rating on shares of Pfizer in a research note on Tuesday, March 18th. Truist Financial lowered their price target on Pfizer from $36.00 to $32.00 and set a “buy” rating on the stock in a research report on Wednesday, December 18th. UBS Group cut their price objective on Pfizer from $31.00 to $29.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. Citigroup dropped their price target on Pfizer from $30.00 to $29.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 28th. Finally, Bank of America reaffirmed a “neutral” rating and set a $29.00 price objective on shares of Pfizer in a research report on Tuesday, December 10th. One research 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. According to data from MarketBeat, the company has a consensus 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.