SouthState Corp Trims Stake in Pfizer Inc. (NYSE:PFE)

SouthState Corp lowered its holdings in Pfizer Inc. (NYSE:PFE) by 29.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 21,880 shares of the biopharmaceutical company’s stock after selling 9,000 shares during the period. SouthState Corp’s holdings in Pfizer were worth $580,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of PFE. Retirement Wealth Solutions LLC bought a new stake in Pfizer during the fourth quarter valued at approximately $26,000. Rialto Wealth Management LLC bought a new stake in shares of Pfizer during the 4th quarter worth $26,000. Kohmann Bosshard Financial Services LLC purchased a new position in Pfizer in the fourth quarter worth $28,000. Noble Wealth Management PBC bought a new position in Pfizer in the fourth quarter valued at $31,000. Finally, Sierra Ocean LLC purchased a new stake in Pfizer during the fourth quarter valued at about $34,000. Institutional investors own 68.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Hsbc Global Res upgraded Pfizer to a “strong-buy” rating in a research report on Monday, March 10th. Bank of America reissued a “neutral” rating and set a $29.00 price target on shares of Pfizer in a research note on Tuesday, December 10th. UBS Group cut their price objective on shares of Pfizer from $31.00 to $29.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. Truist Financial decreased their target price 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. Finally, Guggenheim restated a “buy” rating on shares of Pfizer in a research report on Wednesday, March 12th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $31.92.

Pfizer Trading Up 1.3 %

NYSE PFE opened at $26.07 on Tuesday. The stock has a market cap of $147.72 billion, a P/E ratio of 18.49, a price-to-earnings-growth ratio of 0.64 and a beta of 0.61. Pfizer Inc. has a fifty-two week low of $24.48 and a fifty-two week high of $31.54. The stock has a 50 day simple moving average of $26.22 and a two-hundred day simple moving average of $27.10. 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 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. Pfizer had a net margin of 12.62% and a return on equity of 19.47%. The business had revenue of $17.76 billion for the quarter, compared to analysts’ expectations of $17.26 billion. During the same quarter in the previous year, the business posted $0.10 earnings per share. The firm’s revenue for the quarter was up 24.7% compared to the same quarter last year. On average, analysts forecast that Pfizer Inc. will post 2.95 earnings per share for the current year.

Insider Activity at Pfizer

In other news, Director Ronald E. Blaylock acquired 19,457 shares of the business’s stock in a transaction on Thursday, February 13th. The shares were acquired at an average cost of $25.65 per share, with a total value of $499,072.05. Following the transaction, the director now owns 27,707 shares in the company, valued at $710,684.55. The trade was a 235.84 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 0.06% of the stock is owned by corporate insiders.

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.