Norges Bank Takes $2.33 Billion Position in Pfizer Inc. (NYSE:PFE)

Norges Bank purchased a new position in shares of Pfizer Inc. (NYSE:PFE) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 87,786,882 shares of the biopharmaceutical company’s stock, valued at approximately $2,328,986,000. Norges Bank owned about 1.55% of Pfizer as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. PSI Advisors LLC increased its position in shares of Pfizer by 1.4% during the 4th quarter. PSI Advisors LLC now owns 27,823 shares of the biopharmaceutical company’s stock valued at $738,000 after purchasing an additional 385 shares during the last quarter. Patriot Financial Group Insurance Agency LLC raised its position in Pfizer by 1.0% in the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 38,706 shares of the biopharmaceutical company’s stock worth $1,027,000 after acquiring an additional 391 shares during the period. D Orazio & Associates Inc. boosted its stake in Pfizer by 5.5% in the fourth quarter. D Orazio & Associates Inc. now owns 7,549 shares of the biopharmaceutical company’s stock valued at $200,000 after acquiring an additional 391 shares during the last quarter. Lipe & Dalton grew its position in shares of Pfizer by 17.7% during the 4th quarter. Lipe & Dalton now owns 2,659 shares of the biopharmaceutical company’s stock valued at $71,000 after acquiring an additional 400 shares during the period. Finally, Oliver Luxxe Assets LLC raised its holdings in shares of Pfizer by 2.2% in the 4th quarter. Oliver Luxxe Assets LLC now owns 18,811 shares of the biopharmaceutical company’s stock worth $499,000 after purchasing an additional 401 shares during the period. 68.36% of the stock is owned by institutional investors.

Analysts Set New Price Targets

PFE has been the subject of several research reports. Guggenheim reissued a “buy” rating on shares of Pfizer in a report on Tuesday, March 18th. UBS Group lowered 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. Citigroup reduced their target price 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 reduced 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. Finally, Hsbc Global Res raised shares of Pfizer to a “strong-buy” rating in a research note on Monday, March 10th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, six have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $31.92.

Pfizer Price Performance

PFE opened at $25.19 on Thursday. The company’s 50-day simple moving average is $26.12 and its two-hundred day simple moving average is $26.98. Pfizer Inc. has a 52-week low of $24.48 and a 52-week high of $31.54. The stock has a market capitalization of $142.88 billion, a P/E ratio of 17.87, a P/E/G ratio of 0.64 and a beta of 0.61. 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 announced its 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. Pfizer had a net margin of 12.62% and a return on equity of 19.47%. The business had revenue of $17.76 billion during the quarter, compared to analyst estimates of $17.26 billion. During the same period in the previous year, the business earned $0.10 EPS. The company’s quarterly revenue was up 24.7% compared to the same quarter last year. As a group, analysts predict that Pfizer Inc. will post 2.95 EPS for the current year.

Insider Buying and Selling

In related news, Director Ronald E. Blaylock acquired 19,457 shares of the firm’s stock in a transaction dated Thursday, February 13th. The shares were purchased at an average price of $25.65 per share, with a total value of $499,072.05. Following the completion of the purchase, the director now directly owns 27,707 shares of the company’s stock, valued at $710,684.55. This represents a 235.84 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.06% of the stock is currently owned by 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.