NFJ Investment Group LLC Acquires 404,266 Shares of Pfizer Inc. (NYSE:PFE)

NFJ Investment Group LLC grew its stake in Pfizer Inc. (NYSE:PFE) by 105.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 788,837 shares of the biopharmaceutical company’s stock after purchasing an additional 404,266 shares during the period. NFJ Investment Group LLC’s holdings in Pfizer were worth $20,928,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Nordea Investment Management AB lifted its holdings in shares of Pfizer by 36.1% during the fourth quarter. Nordea Investment Management AB now owns 4,071,700 shares of the biopharmaceutical company’s stock valued at $108,002,000 after acquiring an additional 1,080,822 shares during the period. Parsons Capital Management Inc. RI increased its position in shares of Pfizer by 118.7% during the 4th quarter. Parsons Capital Management Inc. RI now owns 294,764 shares of the biopharmaceutical company’s stock worth $7,820,000 after purchasing an additional 159,984 shares in the last quarter. Copley Financial Group Inc. acquired a new position in Pfizer in the third quarter valued at about $577,000. Mcdonald Partners LLC grew its stake in Pfizer by 9.9% during the fourth quarter. Mcdonald Partners LLC now owns 110,296 shares of the biopharmaceutical company’s stock worth $2,926,000 after buying an additional 9,963 shares during the last quarter. Finally, Merit Financial Group LLC increased its holdings in shares of Pfizer by 60.8% during the fourth quarter. Merit Financial Group LLC now owns 127,967 shares of the biopharmaceutical company’s stock worth $3,395,000 after buying an additional 48,397 shares in the last quarter. 68.36% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PFE has been the topic of several recent analyst reports. Truist Financial reduced their target price on Pfizer from $36.00 to $32.00 and set a “buy” rating on the stock in a report on Wednesday, December 18th. Citigroup restated a “neutral” rating on shares of Pfizer in a report on Thursday, March 27th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $25.00 price target (down from $32.00) on shares of Pfizer in a report on Tuesday, April 8th. Hsbc Global Res raised shares of Pfizer to a “strong-buy” rating in a report on Monday, March 10th. Finally, UBS Group dropped their target price on shares of Pfizer from $28.00 to $24.00 and set a “neutral” rating for the company in a research note on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have assigned a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Pfizer has a consensus rating of “Moderate Buy” and a consensus price target of $31.07.

Pfizer Stock Performance

PFE stock opened at $22.45 on Wednesday. Pfizer Inc. has a twelve month low of $20.92 and a twelve 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 company has a market cap of $127.30 billion, a P/E ratio of 15.92, a price-to-earnings-growth ratio of 0.64 and a beta of 0.67. The business’s fifty day moving average is $25.09 and its 200-day moving average is $26.31.

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 firm had revenue of $17.76 billion for the quarter, compared to analyst estimates of $17.26 billion. Pfizer had a return on equity of 19.47% and a net margin of 12.62%. The company’s quarterly revenue was up 24.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.10 earnings per share. Equities research analysts forecast that Pfizer Inc. will post 2.95 EPS for the current year.

Insiders Place Their Bets

In other news, Director Ronald E. Blaylock acquired 19,457 shares of the stock in a transaction that occurred on Thursday, February 13th. The stock was acquired at an average price of $25.65 per share, for a total transaction of $499,072.05. Following the transaction, the director now directly owns 27,707 shares in the company, valued at approximately $710,684.55. This represents a 235.84 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.06% of the company’s stock.

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.