Institute for Wealth Management LLC. Sells 7,411 Shares of Pfizer Inc. (NYSE:PFE)

Institute for Wealth Management LLC. trimmed its position in shares of Pfizer Inc. (NYSE:PFE) by 23.4% in the fourth quarter, Holdings Channel reports. The fund owned 24,259 shares of the biopharmaceutical company’s stock after selling 7,411 shares during the quarter. Institute for Wealth Management LLC.’s holdings in Pfizer were worth $698,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of PFE. Moneta Group Investment Advisors LLC boosted its holdings in Pfizer by 89,592.7% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 161,143,638 shares of the biopharmaceutical company’s stock valued at $8,257,000,000 after acquiring an additional 160,963,976 shares during the period. Norges Bank acquired a new position in shares of Pfizer during the fourth quarter valued at about $3,150,472,000. Charles Schwab Investment Management Inc. raised its position in shares of Pfizer by 10.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 95,772,746 shares of the biopharmaceutical company’s stock valued at $3,161,261,000 after buying an additional 9,393,992 shares during the last quarter. Morgan Stanley raised its position in shares of Pfizer by 10.3% during the fourth quarter. Morgan Stanley now owns 79,499,361 shares of the biopharmaceutical company’s stock valued at $4,073,547,000 after buying an additional 7,419,929 shares during the last quarter. Finally, Renaissance Technologies LLC acquired a new position in shares of Pfizer during the first quarter valued at about $311,238,000. 68.36% of the stock is currently owned by institutional investors.

Pfizer Price Performance

PFE opened at $25.99 on Friday. Pfizer Inc. has a one year low of $25.23 and a one year high of $40.37. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.91 and a quick ratio of 0.69. The company’s 50 day simple moving average is $27.11 and its 200-day simple moving average is $28.68. The stock has a market capitalization of $147.17 billion, a P/E ratio of 72.19, a price-to-earnings-growth ratio of 1.14 and a beta of 0.61.

Pfizer (NYSE:PFE) last released its quarterly earnings results on Tuesday, January 30th. The biopharmaceutical company reported $0.10 EPS for the quarter, beating the consensus estimate of ($0.19) by $0.29. Pfizer had a net margin of 3.62% and a return on equity of 10.88%. The business had revenue of $14.25 billion for the quarter, compared to analysts’ expectations of $14.37 billion. During the same period in the prior year, the firm earned $1.14 earnings per share. Pfizer’s revenue was down 41.3% compared to the same quarter last year. Sell-side analysts anticipate that Pfizer Inc. will post 2.24 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $45.00 price objective on shares of Pfizer in a research report on Monday, April 15th. TD Cowen lowered shares of Pfizer from an “outperform” rating to a “market perform” rating and set a $32.00 price target for the company. in a research report on Thursday, January 4th. Argus lowered shares of Pfizer from a “buy” rating to a “hold” rating in a research report on Friday, March 22nd. Finally, Guggenheim assumed coverage on shares of Pfizer in a research report on Friday, February 23rd. They issued a “buy” rating and a $36.00 price target for the company. Twelve research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $36.88.

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.