Signature Wealth Management Group Reduces Holdings in Pfizer Inc. (NYSE:PFE)

Signature Wealth Management Group lowered its position in shares of Pfizer Inc. (NYSE:PFE) by 4.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 132,638 shares of the biopharmaceutical company’s stock after selling 6,329 shares during the period. Signature Wealth Management Group’s holdings in Pfizer were worth $3,519,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. Swiss National Bank boosted its holdings in Pfizer by 0.6% in the third quarter. Swiss National Bank now owns 16,819,712 shares of the biopharmaceutical company’s stock worth $486,762,000 after purchasing an additional 100,900 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Pfizer by 11.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 130,143,942 shares of the biopharmaceutical company’s stock valued at $3,766,366,000 after purchasing an additional 12,864,343 shares in the last quarter. Nordea Investment Management AB raised its position in Pfizer by 36.1% in the fourth quarter. Nordea Investment Management AB now owns 4,071,700 shares of the biopharmaceutical company’s stock worth $108,002,000 after acquiring an additional 1,080,822 shares in the last quarter. Parsons Capital Management Inc. RI raised its holdings in 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 buying an additional 159,984 shares during the period. Finally, Parnassus Investments LLC raised its holdings in Pfizer by 3.7% during the 3rd quarter. Parnassus Investments LLC now owns 4,390,705 shares of the biopharmaceutical company’s stock worth $127,067,000 after buying an additional 156,894 shares during the period. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on PFE. Citigroup lowered their target price on Pfizer from $30.00 to $29.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 28th. Bank of America reiterated a “neutral” rating and set a $29.00 price target on shares of Pfizer in a report on Tuesday, December 10th. Truist Financial cut their target price on Pfizer from $36.00 to $32.00 and set a “buy” rating for the company in a research note on Wednesday, December 18th. Hsbc Global Res upgraded Pfizer to a “strong-buy” rating in a research note on Monday, March 10th. Finally, StockNews.com cut Pfizer from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, November 20th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have issued a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.92.

Insider Activity

In other news, Director Ronald E. Blaylock bought 19,457 shares of the firm’s stock in a transaction on Thursday, February 13th. The stock was acquired at an average cost of $25.65 per share, with a total value of $499,072.05. Following the completion of the transaction, the director now directly owns 27,707 shares of the company’s stock, valued at $710,684.55. This represents a 235.84 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.06% of the stock is currently owned by corporate insiders.

Pfizer Trading Up 0.5 %

NYSE PFE opened at $25.74 on Friday. The business’s 50-day moving average price is $26.24 and its two-hundred day moving average price is $27.13. Pfizer Inc. has a 12 month low of $24.48 and a 12 month high of $31.54. The firm has a market capitalization of $145.85 billion, a PE ratio of 18.25, a price-to-earnings-growth ratio of 0.64 and a beta of 0.61. The company has a current ratio of 1.00, a quick ratio of 0.73 and a debt-to-equity ratio of 0.63.

Pfizer (NYSE:PFE) last announced its earnings results on Tuesday, February 4th. The biopharmaceutical company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.48 by $0.15. Pfizer had a return on equity of 19.47% and a net margin of 12.62%. The company had revenue of $17.76 billion for the quarter, compared to analyst estimates of $17.26 billion. During the same quarter in the prior year, the company earned $0.10 EPS. The firm’s revenue for the quarter was up 24.7% compared to the same quarter last year. On average, analysts expect that Pfizer Inc. will post 2.95 EPS for the current year.

Pfizer Company 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.