HBK Sorce Advisory LLC Reduces Stock Holdings in Pfizer Inc. (NYSE:PFE)

HBK Sorce Advisory LLC reduced its holdings in Pfizer Inc. (NYSE:PFE) by 19.1% during the 4th quarter, Holdings Channel reports. The fund owned 113,133 shares of the biopharmaceutical company’s stock after selling 26,759 shares during the period. HBK Sorce Advisory LLC’s holdings in Pfizer were worth $3,001,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in PFE. Achmea Investment Management B.V. purchased a new stake in Pfizer during the fourth quarter worth $2,812,000. Rakuten Securities Inc. boosted its holdings in Pfizer by 10.2% during the fourth quarter. Rakuten Securities Inc. now owns 29,424 shares of the biopharmaceutical company’s stock worth $781,000 after buying an additional 2,734 shares in the last quarter. Avantax Advisory Services Inc. boosted its holdings in Pfizer by 5.1% during the fourth quarter. Avantax Advisory Services Inc. now owns 348,990 shares of the biopharmaceutical company’s stock worth $9,259,000 after buying an additional 17,054 shares in the last quarter. Essential Planning LLC. purchased a new stake in Pfizer during the fourth quarter worth $5,695,000. Finally, Jupiter Asset Management Ltd. boosted its holdings in Pfizer by 589.6% during the fourth quarter. Jupiter Asset Management Ltd. now owns 746,509 shares of the biopharmaceutical company’s stock worth $19,805,000 after buying an additional 638,259 shares in the last quarter. 68.36% of the stock is owned by hedge funds and other institutional investors.

Pfizer Price Performance

Pfizer stock opened at $25.73 on Thursday. Pfizer Inc. has a 12-month low of $24.48 and a 12-month high of $31.54. The stock has a market cap of $145.79 billion, a P/E ratio of 18.24, a PEG ratio of 0.64 and a beta of 0.61. The company has a 50-day moving average price of $26.28 and a 200 day moving average price of $27.18. 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 released its quarterly earnings data on Tuesday, February 4th. The biopharmaceutical company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts’ expectations of $17.26 billion. During the same period last year, the business earned $0.10 earnings per share. Pfizer’s revenue was up 24.7% compared to the same quarter last year. Sell-side analysts anticipate that Pfizer Inc. will post 2.95 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts recently issued reports on PFE shares. Bank of America reissued a “neutral” rating and set a $29.00 price target on shares of Pfizer in a report on Tuesday, December 10th. Guggenheim reaffirmed a “buy” rating on shares of Pfizer in a report on Wednesday. UBS Group decreased their price objective 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. StockNews.com downgraded shares of Pfizer from a “strong-buy” rating to a “buy” rating in a report on Wednesday, November 20th. Finally, Wolfe Research began coverage on shares of Pfizer in a report on Friday, November 15th. They set an “underperform” rating and a $25.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $31.92.

Insiders Place Their Bets

In related news, Director Ronald E. Blaylock bought 19,457 shares of the stock in a transaction on Thursday, February 13th. The stock was bought at an average price of $25.65 per share, with a total value of $499,072.05. Following the completion of the purchase, 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.06% of the stock is currently owned by insiders.

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.