Te Ahumairangi Investment Management Ltd Reduces Holdings in Pfizer Inc. (NYSE:PFE)

Te Ahumairangi Investment Management Ltd lowered its holdings in shares of Pfizer Inc. (NYSE:PFE) by 6.2% in the fourth quarter, HoldingsChannel.com reports. The fund owned 199,423 shares of the biopharmaceutical company’s stock after selling 13,200 shares during the quarter. Pfizer comprises about 1.1% of Te Ahumairangi Investment Management Ltd’s investment portfolio, making the stock its 28th biggest holding. Te Ahumairangi Investment Management Ltd’s holdings in Pfizer were worth $5,291,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of PFE. United Bank increased its position in Pfizer by 3.7% during the 3rd quarter. United Bank now owns 35,599 shares of the biopharmaceutical company’s stock worth $1,030,000 after purchasing an additional 1,277 shares in the last quarter. Benjamin Edwards Inc. boosted its stake in shares of Pfizer by 1,399.9% during the 3rd quarter. Benjamin Edwards Inc. now owns 240,258 shares of the biopharmaceutical company’s stock worth $6,953,000 after purchasing an additional 224,240 shares during the last quarter. Ascent Group LLC grew its holdings in shares of Pfizer by 23.3% during the third quarter. Ascent Group LLC now owns 62,712 shares of the biopharmaceutical company’s stock worth $1,815,000 after buying an additional 11,867 shares in the last quarter. Hilltop Holdings Inc. raised its position in shares of Pfizer by 31.9% in the third quarter. Hilltop Holdings Inc. now owns 102,353 shares of the biopharmaceutical company’s stock valued at $2,962,000 after buying an additional 24,736 shares during the last quarter. Finally, HighTower Advisors LLC lifted its stake in shares of Pfizer by 5.2% during the third quarter. HighTower Advisors LLC now owns 3,219,490 shares of the biopharmaceutical company’s stock valued at $93,146,000 after buying an additional 157,775 shares during the period. 68.36% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Pfizer

In related news, Director Ronald E. Blaylock purchased 19,457 shares of the firm’s stock in a transaction on Thursday, February 13th. The stock was purchased at an average price of $25.65 per share, for a total transaction of $499,072.05. Following the acquisition, the director now directly owns 27,707 shares in the company, valued at $710,684.55. The trade was a 235.84 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.06% of the company’s stock.

Pfizer Price Performance

Pfizer stock opened at $24.53 on Wednesday. The firm has a fifty day moving average of $26.00 and a 200-day moving average of $26.84. Pfizer Inc. has a 52-week low of $24.48 and a 52-week high of $31.54. The company has a quick ratio of 0.73, a current ratio of 1.00 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $139.09 billion, a P/E ratio of 17.39, a PEG ratio of 0.64 and a beta of 0.61.

Pfizer (NYSE:PFE) last announced its quarterly earnings results on Tuesday, February 4th. The biopharmaceutical company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.15. The firm 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% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.10 EPS. As a group, analysts predict that Pfizer Inc. will post 2.95 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on PFE shares. Guggenheim reiterated a “buy” rating on shares of Pfizer in a report on Tuesday, March 18th. Citigroup reduced their target price on Pfizer from $30.00 to $29.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 28th. Hsbc Global Res upgraded Pfizer to a “strong-buy” rating in a report on Monday, March 10th. Truist Financial cut their price objective 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. Finally, Bank of America restated a “neutral” rating and issued a $29.00 target price on shares of Pfizer in a report on Tuesday, December 10th. One analyst has rated the stock with a sell rating, seven have given a hold rating, six have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $31.92.

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.