Providence Wealth Advisors LLC Decreases Position in Pfizer Inc. (NYSE:PFE)

Providence Wealth Advisors LLC lessened its stake in shares of Pfizer Inc. (NYSE:PFE) by 3.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 41,343 shares of the biopharmaceutical company’s stock after selling 1,450 shares during the quarter. Providence Wealth Advisors LLC’s holdings in Pfizer were worth $1,117,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. raised its holdings 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 worth $4,124,330,000 after purchasing an additional 25,315,159 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Pfizer during the 4th quarter valued at approximately $274,694,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Pfizer by 22.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 38,068,879 shares of the biopharmaceutical company’s stock worth $1,101,713,000 after acquiring an additional 6,977,587 shares during the period. Fisher Asset Management LLC raised its position in shares of 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 acquiring an additional 4,938,209 shares in the last quarter. Finally, Van ECK Associates Corp lifted its stake in shares of Pfizer by 28.5% in the 4th 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.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. UBS Group dropped their price target on shares of Pfizer from $31.00 to $29.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. Truist Financial lowered their price target on shares of Pfizer from $36.00 to $32.00 and set a “buy” rating on the stock in a report on Wednesday, December 18th. Guggenheim restated a “buy” rating on shares of Pfizer in a research report on Tuesday, March 18th. Bank of America reaffirmed a “neutral” rating and issued a $29.00 target price on shares of Pfizer in a report on Tuesday, December 10th. Finally, Hsbc Global Res upgraded Pfizer to a “strong-buy” rating in a research report on Monday, March 10th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have given a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, Pfizer currently has a consensus rating of “Moderate Buy” and a consensus target price of $31.92.

Pfizer Price Performance

Shares of PFE stock opened at $25.19 on Thursday. The stock has a 50 day moving average price of $26.12 and a 200 day moving average price of $26.98. The firm has a market capitalization of $142.88 billion, a P/E ratio of 17.87, 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 Inc. has a 52-week low of $24.48 and a 52-week high of $31.54.

Pfizer (NYSE:PFE) last issued its earnings results on Tuesday, February 4th. The biopharmaceutical company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.15. Pfizer had a net margin of 12.62% and a return on equity of 19.47%. The firm had revenue of $17.76 billion during 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. The business’s revenue was up 24.7% on a year-over-year basis. As a group, sell-side analysts predict that Pfizer Inc. will post 2.95 earnings per share for the current year.

Insider Transactions at Pfizer

In other Pfizer news, Director Ronald E. Blaylock acquired 19,457 shares of the business’s stock in a transaction that occurred on 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 completion of the acquisition, the director now directly owns 27,707 shares in the company, valued at $710,684.55. This represents a 235.84 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.06% of the company’s stock.

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.