Centric Wealth Management Boosts Stock Position in Pfizer Inc. (NYSE:PFE)

Centric Wealth Management grew its holdings in shares of Pfizer Inc. (NYSE:PFE) by 175.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 85,997 shares of the biopharmaceutical company’s stock after purchasing an additional 54,736 shares during the quarter. Centric Wealth Management’s holdings in Pfizer were worth $2,282,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in PFE. United Bank lifted its stake in Pfizer by 3.7% in the third quarter. United Bank now owns 35,599 shares of the biopharmaceutical company’s stock valued at $1,030,000 after purchasing an additional 1,277 shares during the last quarter. Tradition Wealth Management LLC lifted its position in shares of Pfizer by 4.5% during the 3rd quarter. Tradition Wealth Management LLC now owns 25,358 shares of the biopharmaceutical company’s stock valued at $734,000 after buying an additional 1,099 shares during the last quarter. Erste Asset Management GmbH purchased a new stake in Pfizer in the 3rd quarter worth about $16,776,000. Benjamin Edwards Inc. raised its stake in Pfizer by 1,399.9% in the 3rd quarter. Benjamin Edwards Inc. now owns 240,258 shares of the biopharmaceutical company’s stock valued at $6,953,000 after acquiring an additional 224,240 shares during the period. Finally, Ascent Group LLC lifted its holdings in Pfizer by 23.3% during the third quarter. Ascent Group LLC now owns 62,712 shares of the biopharmaceutical company’s stock valued at $1,815,000 after purchasing an additional 11,867 shares during the last quarter. 68.36% of the stock is currently owned by institutional investors.

Pfizer Trading Up 0.6 %

NYSE PFE opened at $25.36 on Tuesday. The company has a quick ratio of 0.73, a current ratio of 1.00 and a debt-to-equity ratio of 0.63. The stock’s 50-day simple moving average is $26.05 and its two-hundred day simple moving average is $26.88. Pfizer Inc. has a twelve month low of $24.48 and a twelve month high of $31.54. The company has a market capitalization of $143.80 billion, a price-to-earnings ratio of 17.98, a PEG ratio of 0.64 and a beta of 0.61.

Pfizer (NYSE:PFE) last released its earnings results on Tuesday, February 4th. The biopharmaceutical company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.15. The company had revenue of $17.76 billion during the quarter, compared to the consensus estimate 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 previous year, the company posted $0.10 EPS. Research analysts forecast that Pfizer Inc. will post 2.95 EPS for the current fiscal year.

Insider Activity

In related news, Director Ronald E. Blaylock purchased 19,457 shares of Pfizer stock in a transaction that occurred on Thursday, February 13th. The shares were acquired at an average cost of $25.65 per share, for a total transaction of $499,072.05. Following the transaction, the director now directly owns 27,707 shares in the company, valued at $710,684.55. The trade was a 235.84 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on PFE. 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 research report on Wednesday, December 18th. Guggenheim restated a “buy” rating on shares of Pfizer in a research report on Tuesday, March 18th. Hsbc Global Res upgraded Pfizer to a “strong-buy” rating in a research report on Monday, March 10th. Citigroup dropped their price objective on Pfizer from $30.00 to $29.00 and set a “neutral” rating on the stock in a report on Tuesday, January 28th. Finally, Bank of America reiterated a “neutral” rating and set a $29.00 price target on shares of Pfizer in a research report on Tuesday, December 10th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have issued a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $31.92.

Pfizer 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.