Summit Global Investments Has $352,000 Stock Holdings in Pfizer Inc. (NYSE:PFE)

Summit Global Investments decreased its holdings in shares of Pfizer Inc. (NYSE:PFE) by 10.4% during the 4th quarter, HoldingsChannel.com reports. The firm owned 13,260 shares of the biopharmaceutical company’s stock after selling 1,531 shares during the period. Summit Global Investments’ holdings in Pfizer were worth $352,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. PSI Advisors LLC raised its holdings in Pfizer by 1.4% during the fourth quarter. PSI Advisors LLC now owns 27,823 shares of the biopharmaceutical company’s stock valued at $738,000 after buying an additional 385 shares in the last quarter. Patriot Financial Group Insurance Agency LLC raised its position in shares of 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 valued at $1,027,000 after purchasing an additional 391 shares during the period. D Orazio & Associates Inc. boosted its holdings in shares of Pfizer by 5.5% during the 4th quarter. D Orazio & Associates Inc. now owns 7,549 shares of the biopharmaceutical company’s stock worth $200,000 after buying an additional 391 shares during the period. Lipe & Dalton grew its stake in Pfizer by 17.7% in the 4th quarter. Lipe & Dalton now owns 2,659 shares of the biopharmaceutical company’s stock valued at $71,000 after buying an additional 400 shares during the last quarter. Finally, Oliver Luxxe Assets LLC boosted its stake in Pfizer by 2.2% during the 4th quarter. Oliver Luxxe Assets LLC now owns 18,811 shares of the biopharmaceutical company’s stock valued at $499,000 after purchasing an additional 401 shares during the period. Institutional investors and hedge funds own 68.36% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on PFE shares. Citigroup dropped their target price on shares of Pfizer from $30.00 to $29.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 28th. Guggenheim reaffirmed a “buy” rating on shares of Pfizer in a report on Tuesday, March 18th. UBS Group decreased their price objective on Pfizer from $31.00 to $29.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. Bank of America reissued a “neutral” rating and issued a $29.00 price target on shares of Pfizer in a research report on Tuesday, December 10th. Finally, Truist Financial dropped their price objective on Pfizer from $36.00 to $32.00 and set a “buy” rating for the company in a research note on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, six have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $31.92.

Insider Activity

In other Pfizer news, Director Ronald E. Blaylock acquired 19,457 shares of the business’s stock in a transaction that occurred on Thursday, February 13th. The shares were acquired at an average cost of $25.65 per share, for a total transaction of $499,072.05. Following the completion of the acquisition, 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.06% of the company’s stock.

Pfizer Stock Performance

PFE stock opened at $26.13 on Tuesday. The company has a 50 day moving average price of $26.15 and a 200 day moving average price of $27.02. Pfizer Inc. has a fifty-two week low of $24.48 and a fifty-two week high of $31.54. 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 stock has a market capitalization of $148.21 billion, a PE ratio of 18.53, a price-to-earnings-growth ratio of 0.64 and a beta of 0.61.

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