Summit Securities Group LLC Purchases 6,600 Shares of Pfizer Inc. (NYSE:PFE)

Summit Securities Group LLC lifted its stake in Pfizer Inc. (NYSE:PFE) by 38.4% during the fourth quarter, HoldingsChannel reports. The firm owned 23,800 shares of the biopharmaceutical company’s stock after purchasing an additional 6,600 shares during the period. Summit Securities Group LLC’s holdings in Pfizer were worth $631,000 at the end of the most recent quarter.

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

Insider Buying and Selling at Pfizer

In other Pfizer news, Director Ronald E. Blaylock purchased 19,457 shares of the firm’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 purchase, the director now owns 27,707 shares of the company’s stock, valued at approximately $710,684.55. The trade was a 235.84 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Citigroup dropped 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. Truist Financial decreased their target price on Pfizer from $36.00 to $32.00 and set a “buy” rating on the stock in a research report on Wednesday, December 18th. Hsbc Global Res raised shares of Pfizer to a “strong-buy” rating in a research note on Monday, March 10th. Guggenheim restated a “buy” rating on shares of Pfizer in a research report on Tuesday, March 18th. Finally, Bank of America reiterated a “neutral” rating and set a $29.00 price target on shares of Pfizer in a report on Tuesday, December 10th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have assigned a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $31.92.

Pfizer Stock Up 0.8 %

Shares of NYSE PFE opened at $25.20 on Friday. The firm’s 50-day moving average is $26.06 and its 200-day moving average is $26.92. The firm has a market capitalization of $142.93 billion, a PE ratio of 17.87, a price-to-earnings-growth ratio of 0.64 and a beta of 0.61. Pfizer Inc. has a 1 year low of $24.48 and a 1 year high of $31.54. 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 (NYSE:PFE) last issued its quarterly earnings results on Tuesday, February 4th. The biopharmaceutical company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.15. Pfizer had a net margin of 12.62% and a return on equity of 19.47%. The company had revenue of $17.76 billion during the quarter, compared to analysts’ expectations of $17.26 billion. During the same period last year, the business earned $0.10 EPS. The business’s quarterly revenue was up 24.7% on a year-over-year basis. Equities analysts expect that Pfizer Inc. will post 2.95 EPS for the current year.

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.