Corebridge Financial Inc. Sells 62,333 Shares of Pfizer Inc. (NYSE:PFE)

Corebridge Financial Inc. lowered its stake in Pfizer Inc. (NYSE:PFE) by 4.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,302,451 shares of the biopharmaceutical company’s stock after selling 62,333 shares during the quarter. Corebridge Financial Inc.’s holdings in Pfizer were worth $34,554,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in PFE. Retirement Wealth Solutions LLC bought a new stake in Pfizer during the 4th quarter worth approximately $26,000. Rialto Wealth Management LLC purchased a new stake in shares of Pfizer in the fourth quarter worth $26,000. Kohmann Bosshard Financial Services LLC bought a new stake in shares of Pfizer during the 4th quarter valued at $28,000. Noble Wealth Management PBC purchased a new position in shares of Pfizer during the 4th quarter valued at $31,000. Finally, Curio Wealth LLC bought a new position in Pfizer in the 4th quarter worth $32,000. 68.36% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PFE has been the topic of a number of recent analyst reports. UBS Group decreased their price target on Pfizer from $31.00 to $29.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. Bank of America reissued a “neutral” rating and issued 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 Tuesday, March 18th. Citigroup reduced their price objective on shares of Pfizer from $30.00 to $29.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 28th. Finally, Truist Financial dropped their target price on shares of Pfizer from $36.00 to $32.00 and set a “buy” rating for the company in a research report on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, six have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.92.

Insider Transactions at Pfizer

In other news, Director Ronald E. Blaylock purchased 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, for a total transaction of $499,072.05. Following the acquisition, the director now owns 27,707 shares of the company’s stock, valued at approximately $710,684.55. This trade represents a 235.84 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.06% of the company’s stock.

Pfizer Trading Up 0.1 %

Shares of NYSE PFE opened at $26.20 on Monday. The stock has a market capitalization of $148.61 billion, a P/E ratio of 18.58, a PEG ratio of 0.64 and a beta of 0.61. Pfizer Inc. has a 1-year low of $24.48 and a 1-year high of $31.54. The business’s 50 day moving average is $26.17 and its two-hundred day moving average is $27.04. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.00 and a quick ratio of 0.73.

Pfizer (NYSE:PFE) last released its quarterly 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 company 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%. Pfizer’s quarterly revenue was up 24.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.10 EPS. As a group, research 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.