Allen Wealth Management LLC Reduces Holdings in Pfizer Inc. (NYSE:PFE)

Allen Wealth Management LLC lowered its position in Pfizer Inc. (NYSE:PFE) by 11.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 87,236 shares of the biopharmaceutical company’s stock after selling 11,703 shares during the quarter. Pfizer comprises 1.7% of Allen Wealth Management LLC’s investment portfolio, making the stock its 11th largest holding. Allen Wealth Management LLC’s holdings in Pfizer were worth $2,314,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Pfizer in the fourth quarter valued at $2,328,986,000. Charles Schwab Investment Management Inc. grew its holdings in Pfizer by 19.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 155,459,101 shares of the biopharmaceutical company’s stock valued at $4,124,330,000 after buying an additional 25,315,159 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Pfizer during the 4th quarter valued at about $274,694,000. Massachusetts Financial Services Co. MA increased its position in shares of Pfizer by 7.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 76,502,238 shares of the biopharmaceutical company’s stock valued at $2,029,604,000 after buying an additional 5,350,381 shares during the period. Finally, Fisher Asset Management LLC lifted its holdings in shares of Pfizer by 79.5% in the fourth quarter. Fisher Asset Management LLC now owns 11,148,116 shares of the biopharmaceutical company’s stock worth $295,760,000 after buying an additional 4,938,209 shares in the last quarter. 68.36% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on PFE shares. Hsbc Global Res raised shares of Pfizer to a “strong-buy” rating in a report on Monday, March 10th. Citigroup decreased their price target on shares of Pfizer from $30.00 to $29.00 and set a “neutral” rating on the stock in a report on Tuesday, January 28th. Bank of America reissued a “neutral” rating and set a $29.00 price objective on shares of Pfizer in a research note on Tuesday, December 10th. Guggenheim reaffirmed a “buy” rating on shares of Pfizer in a report on Tuesday, March 18th. Finally, Truist Financial cut their price objective on Pfizer from $36.00 to $32.00 and set a “buy” rating for the company in a report on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, six have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $31.92.

Insiders Place Their Bets

In other news, Director Ronald E. Blaylock bought 19,457 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The shares were bought at an average cost 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 ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.06% of the company’s stock.

Pfizer Price Performance

PFE stock opened at $24.73 on Thursday. The firm has a market cap of $140.26 billion, a P/E ratio of 17.54, a P/E/G ratio of 0.64 and a beta of 0.61. The firm’s fifty day moving average is $25.98 and its 200 day moving average is $26.83. Pfizer Inc. has a 52 week low of $24.31 and a 52 week high of $31.54. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.73 and a current ratio of 1.00.

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

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.