Pictet Asset Management Holding SA Sells 59,824 Shares of Pfizer Inc. (NYSE:PFE)

Pictet Asset Management Holding SA lessened its stake in shares of Pfizer Inc. (NYSE:PFE) by 2.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,497,107 shares of the biopharmaceutical company’s stock after selling 59,824 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Pfizer were worth $66,248,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Retirement Wealth Solutions LLC bought a new stake in Pfizer during the 4th quarter worth $26,000. Rialto Wealth Management LLC bought a new stake in shares of Pfizer during the fourth quarter worth about $26,000. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Pfizer in the fourth quarter valued at approximately $28,000. Noble Wealth Management PBC bought a new position in Pfizer in the 4th quarter valued at approximately $31,000. Finally, Curio Wealth LLC acquired a new stake in Pfizer during the 4th quarter worth approximately $32,000. 68.36% of the stock is currently owned by institutional investors and hedge funds.

Pfizer Price Performance

Shares of NYSE PFE opened at $25.20 on Friday. The firm has a market capitalization of $142.93 billion, a P/E ratio of 17.87, a P/E/G ratio of 0.64 and a beta of 0.61. The firm’s 50-day moving average price is $26.06 and its 200-day moving average price is $26.92. The company has a current ratio of 1.00, a quick ratio of 0.73 and a debt-to-equity ratio of 0.63. Pfizer Inc. has a 1-year low of $24.48 and a 1-year high of $31.54.

Pfizer (NYSE:PFE) last posted its quarterly 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. 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 the consensus estimate of $17.26 billion. During the same period in the prior year, the business earned $0.10 EPS. The firm’s revenue for the quarter was up 24.7% on a year-over-year basis. Equities research analysts anticipate that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on PFE. UBS Group decreased their price target on shares of Pfizer from $31.00 to $29.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. Guggenheim reaffirmed a “buy” rating on shares of Pfizer in a research report on Tuesday, March 18th. Truist Financial reduced their price target on Pfizer from $36.00 to $32.00 and set a “buy” rating on the stock in a research report on Wednesday, December 18th. Bank of America restated a “neutral” rating and set a $29.00 price objective on shares of Pfizer in a research report on Tuesday, December 10th. Finally, Citigroup reduced their target price on 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 given a hold rating, six have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Pfizer has an average rating of “Moderate Buy” and a consensus price target of $31.92.

Insider Buying and Selling

In other Pfizer news, Director Ronald E. Blaylock purchased 19,457 shares of the firm’s stock in a transaction on Thursday, February 13th. The stock was acquired at an average price of $25.65 per share, for a total transaction of $499,072.05. Following the purchase, 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 position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.06% of the stock is owned by company insiders.

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.