Parallel Advisors LLC Reduces Stake in Pfizer Inc. (NYSE:PFE)

Parallel Advisors LLC cut its stake in shares of Pfizer Inc. (NYSE:PFE) by 23.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 95,046 shares of the biopharmaceutical company’s stock after selling 29,377 shares during the period. Parallel Advisors LLC’s holdings in Pfizer were worth $2,522,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. Swedbank AB boosted its stake in shares of Pfizer by 0.7% during the 3rd quarter. Swedbank AB now owns 5,745,831 shares of the biopharmaceutical company’s stock worth $166,284,000 after purchasing an additional 37,636 shares during the period. United Bank boosted its position in shares of Pfizer by 3.7% during the third quarter. United Bank now owns 35,599 shares of the biopharmaceutical company’s stock valued at $1,030,000 after buying an additional 1,277 shares during the period. Thrivent Financial for Lutherans grew its stake in shares of Pfizer by 14.5% during the third quarter. Thrivent Financial for Lutherans now owns 846,582 shares of the biopharmaceutical company’s stock valued at $24,500,000 after buying an additional 107,346 shares during the last quarter. Meeder Advisory Services Inc. raised its holdings in shares of Pfizer by 2.5% in the third quarter. Meeder Advisory Services Inc. now owns 61,784 shares of the biopharmaceutical company’s stock worth $1,788,000 after buying an additional 1,503 shares during the period. Finally, Joseph Group Capital Management lifted its stake in shares of Pfizer by 168.3% during the 3rd quarter. Joseph Group Capital Management now owns 1,229 shares of the biopharmaceutical company’s stock worth $36,000 after acquiring an additional 771 shares during the last quarter. 68.36% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Guggenheim reiterated a “buy” rating on shares of Pfizer in a research note on Tuesday. Hsbc Global Res raised shares of Pfizer to a “strong-buy” rating in a research note on Monday, March 10th. Citigroup lowered their price objective on shares of Pfizer from $30.00 to $29.00 and set a “neutral” rating for the company in a research report on Tuesday, January 28th. StockNews.com downgraded shares of Pfizer from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, November 20th. Finally, UBS Group dropped their price objective on Pfizer from $31.00 to $29.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. One analyst has rated the stock with a sell rating, eight 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.com, the company currently has an average rating of “Moderate Buy” and an average price target of $31.92.

Pfizer Price Performance

PFE opened at $26.31 on Wednesday. The firm has a market capitalization of $149.09 billion, a PE ratio of 18.66, a price-to-earnings-growth ratio of 0.64 and a beta of 0.61. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.00 and a quick ratio of 0.73. The business’s 50-day moving average is $26.21 and its two-hundred day moving average is $27.09. Pfizer Inc. has a 1 year low of $24.48 and a 1 year high of $31.54.

Pfizer (NYSE:PFE) last issued its quarterly earnings data on Tuesday, February 4th. The biopharmaceutical company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.15. The firm 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 company’s quarterly revenue was up 24.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.10 EPS. Research analysts anticipate that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.

Insider Activity

In other Pfizer news, Director Ronald E. Blaylock bought 19,457 shares of Pfizer 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 transaction, the director now directly owns 27,707 shares of the company’s stock, valued at approximately $710,684.55. This represents a 235.84 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.06% of the company’s stock.

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.