Weatherly Asset Management L. P. Reduces Stock Position in Pfizer Inc. (NYSE:PFE)

Weatherly Asset Management L. P. decreased its position in Pfizer Inc. (NYSE:PFE) by 16.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 25,933 shares of the biopharmaceutical company’s stock after selling 5,014 shares during the quarter. Weatherly Asset Management L. P.’s holdings in Pfizer were worth $747,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of PFE. Charles Schwab Investment Management Inc. lifted its stake in Pfizer by 10.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 95,772,746 shares of the biopharmaceutical company’s stock worth $3,161,261,000 after acquiring an additional 9,393,992 shares during the period. Invesco Ltd. boosted its holdings in Pfizer by 30.9% in the third quarter. Invesco Ltd. now owns 24,054,896 shares of the biopharmaceutical company’s stock worth $797,901,000 after acquiring an additional 5,678,004 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Pfizer by 9.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 60,207,521 shares of the biopharmaceutical company’s stock worth $1,997,083,000 after acquiring an additional 5,185,453 shares during the last quarter. Bank of Nova Scotia increased its holdings in shares of Pfizer by 219.4% during the third quarter. Bank of Nova Scotia now owns 5,503,983 shares of the biopharmaceutical company’s stock valued at $182,567,000 after acquiring an additional 3,780,696 shares in the last quarter. Finally, Canada Pension Plan Investment Board boosted its stake in Pfizer by 38.9% in the 3rd quarter. Canada Pension Plan Investment Board now owns 10,028,940 shares of the biopharmaceutical company’s stock worth $332,660,000 after purchasing an additional 2,807,846 shares in the last quarter. 68.36% of the stock is owned by institutional investors.

Analyst Ratings Changes

PFE has been the topic of a number of recent analyst reports. TD Cowen cut shares of Pfizer from an “outperform” rating to a “market perform” rating and set a $32.00 price target on the stock. in a report on Thursday, January 4th. Guggenheim started coverage on Pfizer in a research note on Friday, February 23rd. They set a “buy” rating and a $36.00 target price on the stock. Cantor Fitzgerald restated an “overweight” rating and issued a $45.00 price target on shares of Pfizer in a research note on Monday, April 15th. Finally, Argus lowered shares of Pfizer from a “buy” rating to a “hold” rating in a research note on Friday, March 22nd. Eleven investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Pfizer presently has an average rating of “Hold” and an average target price of $36.33.

Pfizer Price Performance

NYSE PFE traded down $0.03 during trading hours on Wednesday, reaching $26.29. The company’s stock had a trading volume of 11,646,960 shares, compared to its average volume of 41,720,766. The company has a quick ratio of 0.69, a current ratio of 0.91 and a debt-to-equity ratio of 0.69. Pfizer Inc. has a 1 year low of $25.23 and a 1 year high of $40.37. The firm’s 50-day moving average price is $27.07 and its 200-day moving average price is $28.52. The company has a market capitalization of $148.87 billion, a price-to-earnings ratio of 72.72, a PEG ratio of 1.18 and a beta of 0.61.

Pfizer (NYSE:PFE) last announced its quarterly earnings results on Tuesday, January 30th. The biopharmaceutical company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.29. Pfizer had a net margin of 3.62% and a return on equity of 10.88%. The company had revenue of $14.25 billion for the quarter, compared to the consensus estimate of $14.37 billion. During the same period in the previous year, the firm posted $1.14 EPS. Pfizer’s revenue for the quarter was down 41.3% compared to the same quarter last year. On average, equities research analysts predict that Pfizer Inc. will post 2.24 EPS for the current fiscal year.

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.