Modern Wealth Management LLC Raises Position in Pfizer Inc. (NYSE:PFE)

Modern Wealth Management LLC raised its holdings in shares of Pfizer Inc. (NYSE:PFE) by 48.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 42,336 shares of the biopharmaceutical company’s stock after buying an additional 13,865 shares during the period. Modern Wealth Management LLC’s holdings in Pfizer were worth $1,095,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of PFE. Nordea Investment Management AB increased its stake in Pfizer by 36.1% in the 4th quarter. Nordea Investment Management AB now owns 4,071,700 shares of the biopharmaceutical company’s stock worth $108,002,000 after purchasing an additional 1,080,822 shares during the period. Parsons Capital Management Inc. RI grew its holdings in shares of Pfizer by 118.7% in the fourth quarter. Parsons Capital Management Inc. RI now owns 294,764 shares of the biopharmaceutical company’s stock worth $7,820,000 after purchasing an additional 159,984 shares during the last quarter. NFJ Investment Group LLC increased its stake in shares of Pfizer by 12.8% in the third quarter. NFJ Investment Group LLC now owns 384,571 shares of the biopharmaceutical company’s stock worth $11,129,000 after buying an additional 43,719 shares during the period. Copley Financial Group Inc. bought a new stake in Pfizer during the 3rd quarter valued at $577,000. Finally, Zacks Investment Management boosted its position in Pfizer by 10.9% during the 3rd quarter. Zacks Investment Management now owns 2,389,138 shares of the biopharmaceutical company’s stock valued at $69,142,000 after buying an additional 235,243 shares during the period. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Pfizer Stock Down 1.4 %

Shares of NYSE:PFE opened at $25.19 on Thursday. The company has a current ratio of 1.00, a quick ratio of 0.73 and a debt-to-equity ratio of 0.63. The stock has a fifty day simple moving average of $26.12 and a two-hundred day simple moving average of $26.98. Pfizer Inc. has a 12-month low of $24.48 and a 12-month high of $31.54. The stock has a market capitalization of $142.88 billion, a price-to-earnings ratio of 17.87, a PEG ratio of 0.64 and a beta of 0.61.

Pfizer (NYSE:PFE) last announced its quarterly earnings data on Tuesday, February 4th. The biopharmaceutical company reported $0.63 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 the consensus estimate of $17.26 billion. Pfizer had a net margin of 12.62% and a return on equity of 19.47%. Pfizer’s revenue for the quarter was up 24.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.10 EPS. On average, research analysts anticipate that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Pfizer news, Director Ronald E. Blaylock bought 19,457 shares of Pfizer stock in a transaction on Thursday, February 13th. The stock was acquired at an average price of $25.65 per share, with a total value of $499,072.05. Following the acquisition, the director now owns 27,707 shares in the company, valued at approximately $710,684.55. This trade represents a 235.84 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.06% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on PFE shares. UBS Group decreased their price objective on shares of Pfizer from $31.00 to $29.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Bank of America reaffirmed a “neutral” rating and set a $29.00 price target on shares of Pfizer in a research report on Tuesday, December 10th. Guggenheim reiterated a “buy” rating on shares of Pfizer in a research report on Tuesday, March 18th. Hsbc Global Res upgraded Pfizer to a “strong-buy” rating in a report on Monday, March 10th. Finally, Citigroup cut their price target on shares of Pfizer from $30.00 to $29.00 and set a “neutral” rating on the stock in a report on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average 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.