OVERSEA CHINESE BANKING Corp Ltd Sells 22,823 Shares of Pfizer Inc. (NYSE:PFE)

OVERSEA CHINESE BANKING Corp Ltd decreased its holdings in Pfizer Inc. (NYSE:PFE) by 71.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,900 shares of the biopharmaceutical company’s stock after selling 22,823 shares during the period. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Pfizer were worth $236,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in PFE. Retirement Wealth Solutions LLC bought a new position in shares of Pfizer in the 4th quarter valued at about $26,000. Rialto Wealth Management LLC bought a new position in shares of Pfizer in the 4th quarter valued at about $26,000. Kohmann Bosshard Financial Services LLC bought a new position in shares of Pfizer in the 4th quarter valued at about $28,000. Noble Wealth Management PBC bought a new stake in Pfizer in the fourth quarter worth about $31,000. Finally, Curio Wealth LLC bought a new stake in Pfizer in the fourth quarter worth about $32,000. Institutional investors own 68.36% of the company’s stock.

Pfizer Stock Performance

Shares of PFE stock opened at $26.17 on Friday. The firm has a market cap of $148.29 billion, a price-to-earnings ratio of 18.56, a PEG ratio of 0.64 and a beta of 0.61. The company’s 50 day moving average is $26.18 and its 200 day moving average is $27.07. The company has a quick ratio of 0.73, a current ratio of 1.00 and a debt-to-equity ratio of 0.63. Pfizer Inc. has a 52-week low of $24.48 and a 52-week 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, beating the consensus estimate of $0.48 by $0.15. The company had revenue of $17.76 billion for the quarter, compared to analyst estimates of $17.26 billion. Pfizer had a net margin of 12.62% and a return on equity of 19.47%. Pfizer’s revenue was up 24.7% compared to the same quarter last year. During the same period last year, the company posted $0.10 earnings per share. On average, sell-side analysts anticipate that Pfizer Inc. will post 2.95 EPS for the current fiscal year.

Insider Activity at Pfizer

In other news, Director Ronald E. Blaylock purchased 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 completion of the acquisition, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.06% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have issued reports on PFE. Citigroup decreased their price objective on shares of Pfizer from $30.00 to $29.00 and set a “neutral” rating for the company in a research note on Tuesday, January 28th. Truist Financial decreased their price objective on shares of Pfizer from $36.00 to $32.00 and set a “buy” rating for the company in a research note on Wednesday, December 18th. UBS Group decreased 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. Guggenheim reissued a “buy” rating on shares of Pfizer in a research note on Tuesday. Finally, Bank of America reissued a “neutral” rating and issued a $29.00 price objective on shares of Pfizer in a research note on Tuesday, December 10th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $31.92.

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.