Alliancebernstein L.P. Sells 249,600 Shares of Pfizer Inc. (NYSE:PFE)

Alliancebernstein L.P. trimmed its position in shares of Pfizer Inc. (NYSE:PFE) by 3.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,375,369 shares of the biopharmaceutical company’s stock after selling 249,600 shares during the quarter. Alliancebernstein L.P.’s holdings in Pfizer were worth $169,139,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Pfizer during the fourth quarter valued at approximately $2,328,986,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Pfizer by 19.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 155,459,101 shares of the biopharmaceutical company’s stock valued at $4,124,330,000 after buying an additional 25,315,159 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Pfizer in the 4th quarter worth about $274,694,000. Fisher Asset Management LLC lifted its position in Pfizer by 79.5% during the 4th quarter. Fisher Asset Management LLC now owns 11,148,116 shares of the biopharmaceutical company’s stock valued at $295,760,000 after acquiring an additional 4,938,209 shares during the period. Finally, Van ECK Associates Corp boosted its stake in Pfizer by 28.5% during the fourth quarter. Van ECK Associates Corp now owns 21,286,805 shares of the biopharmaceutical company’s stock worth $564,739,000 after acquiring an additional 4,726,549 shares in the last quarter. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Insider Activity

In related news, Director Ronald E. Blaylock acquired 19,457 shares of the business’s stock in a transaction that occurred on Thursday, February 13th. The stock was bought at an average cost of $25.65 per share, for a total transaction of $499,072.05. Following the purchase, the director now owns 27,707 shares in the company, valued at $710,684.55. The trade was a 235.84 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

PFE has been the subject of several recent research reports. Bank of America reiterated a “neutral” rating and set a $29.00 target price on shares of Pfizer in a report on Tuesday, December 10th. UBS Group lowered their price objective on Pfizer from $31.00 to $29.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. Hsbc Global Res raised Pfizer to a “strong-buy” rating in a research note on Monday, March 10th. Citigroup lowered their price target on Pfizer from $30.00 to $29.00 and set a “neutral” rating for the company in a research report on Tuesday, January 28th. Finally, Truist Financial cut their price target on shares of Pfizer from $36.00 to $32.00 and set a “buy” rating on the stock in a report on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, Pfizer currently has a consensus rating of “Moderate Buy” and a consensus target price of $31.92.

Pfizer Stock Performance

PFE stock opened at $24.53 on Wednesday. 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 Inc. has a 1 year low of $24.48 and a 1 year high of $31.54. The company has a market cap of $139.09 billion, a P/E ratio of 17.39, a price-to-earnings-growth ratio of 0.64 and a beta of 0.61. The stock’s fifty day moving average price is $26.00 and its 200-day moving average price is $26.84.

Pfizer (NYSE:PFE) last posted its quarterly earnings data on Tuesday, February 4th. The biopharmaceutical company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $17.26 billion. During the same quarter last year, the firm posted $0.10 earnings per share. The firm’s revenue was up 24.7% compared to the same quarter last year. On average, equities analysts forecast that Pfizer Inc. will post 2.95 earnings per share 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.