Evoke Wealth LLC Sells 8,909 Shares of Pfizer Inc. (NYSE:PFE)

Evoke Wealth LLC lessened its stake in Pfizer Inc. (NYSE:PFE) by 25.9% in the fourth quarter, Holdings Channel reports. The firm owned 25,424 shares of the biopharmaceutical company’s stock after selling 8,909 shares during the quarter. Evoke Wealth LLC’s holdings in Pfizer were worth $675,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Retirement Wealth Solutions LLC acquired a new position in Pfizer in the fourth quarter valued at about $26,000. Rialto Wealth Management LLC acquired a new position in Pfizer in the fourth quarter valued at about $26,000. Kohmann Bosshard Financial Services LLC acquired a new position in Pfizer in the fourth quarter valued at about $28,000. Noble Wealth Management PBC acquired a new position in Pfizer in the fourth quarter valued at about $31,000. Finally, Curio Wealth LLC acquired a new position in Pfizer in the fourth quarter valued at about $32,000. Institutional investors and hedge funds own 68.36% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on PFE. Truist Financial lowered their target price on Pfizer from $36.00 to $32.00 and set a “buy” rating for the company in a research note on Wednesday, December 18th. Hsbc Global Res raised Pfizer to a “strong-buy” rating in a research note on Monday, March 10th. StockNews.com downgraded Pfizer from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, November 20th. Bank of America reissued a “neutral” rating and set a $29.00 target price on shares of Pfizer in a research note on Tuesday, December 10th. Finally, Guggenheim reissued a “buy” rating on shares of Pfizer in a research note on Tuesday. One equities research 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 stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $31.92.

Insiders Place Their Bets

In other Pfizer news, Director Ronald E. Blaylock purchased 19,457 shares of the business’s stock in a transaction on Thursday, February 13th. The shares were purchased at an average cost of $25.65 per share, for a total transaction of $499,072.05. Following the acquisition, the director now owns 27,707 shares of the company’s stock, valued at approximately $710,684.55. This represents a 235.84 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.06% of the company’s stock.

Pfizer Stock Performance

Shares of PFE stock opened at $26.31 on Wednesday. The business’s 50 day simple moving average is $26.21 and its 200 day simple moving average is $27.09. Pfizer Inc. has a one year low of $24.48 and a one year high of $31.54. The stock has a market capitalization of $149.09 billion, a PE ratio of 18.66, a PEG 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.

Pfizer (NYSE:PFE) last announced its earnings results on Tuesday, February 4th. The biopharmaceutical company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.48 by $0.15. Pfizer had a return on equity of 19.47% and a net margin of 12.62%. The business had revenue of $17.76 billion for the quarter, compared to analysts’ expectations of $17.26 billion. During the same period in the prior year, the business posted $0.10 earnings per share. The firm’s revenue was up 24.7% on a year-over-year basis. As a group, research analysts forecast that Pfizer Inc. will post 2.95 earnings per share for the current year.

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.