Invesco Ltd. Acquires 2,579,455 Shares of Pfizer Inc. (NYSE:PFE)

Invesco Ltd. boosted its stake in shares of Pfizer Inc. (NYSE:PFE) by 9.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,458,139 shares of the biopharmaceutical company’s stock after purchasing an additional 2,579,455 shares during the quarter. Invesco Ltd. owned about 0.52% of Pfizer worth $781,524,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of PFE. Retirement Wealth Solutions LLC bought a new position in Pfizer in the 4th quarter valued at about $26,000. Rialto Wealth Management LLC acquired a new position in shares of Pfizer in the fourth quarter valued at approximately $26,000. Kohmann Bosshard Financial Services LLC bought a new position in shares of Pfizer during the fourth quarter worth approximately $28,000. Noble Wealth Management PBC acquired a new stake in Pfizer during the 4th quarter worth approximately $31,000. Finally, Curio Wealth LLC bought a new stake in Pfizer in the 4th quarter valued at $32,000. 68.36% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Ronald E. Blaylock purchased 19,457 shares of the business’s stock in a transaction dated Thursday, February 13th. The shares were purchased 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 owns 27,707 shares of the company’s stock, valued at $710,684.55. This trade represents a 235.84 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.06% of the company’s stock.

Pfizer Price Performance

Shares of PFE stock opened at $22.64 on Tuesday. Pfizer Inc. has a twelve month low of $21.75 and a twelve month high of $31.54. 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 business has a fifty day simple moving average of $25.79 and a 200 day simple moving average of $26.67. The company has a market cap of $128.40 billion, a P/E ratio of 16.06, a P/E/G ratio of 0.64 and a beta of 0.67.

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

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on PFE shares. Citigroup reissued a “neutral” rating on shares of Pfizer in a report on Thursday, March 27th. Guggenheim reiterated a “buy” rating on shares of Pfizer in a research note on Tuesday, March 18th. Bank of America restated a “neutral” rating and set a $29.00 target price on shares of Pfizer in a research report on Tuesday, December 10th. Truist Financial dropped their price target 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. Finally, UBS Group reduced their price target on Pfizer from $31.00 to $29.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $31.92.

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.