Bank of Montreal Can Cuts Position in Pfizer Inc. (NYSE:PFE)

Bank of Montreal Can cut its holdings in Pfizer Inc. (NYSE:PFE - Free Report) by 29.8% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,761,779 shares of the biopharmaceutical company's stock after selling 4,574,955 shares during the quarter. Bank of Montreal Can owned approximately 0.19% of Pfizer worth $285,510,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in PFE. Norges Bank bought a new position in shares of Pfizer in the 4th quarter worth about $2,328,986,000. Charles Schwab Investment Management Inc. grew its position in Pfizer by 19.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 155,459,101 shares of the biopharmaceutical company's stock worth $4,124,330,000 after purchasing an additional 25,315,159 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Pfizer during the 4th quarter worth approximately $274,694,000. Massachusetts Financial Services Co. MA raised its stake in shares of Pfizer by 7.5% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 76,502,238 shares of the biopharmaceutical company's stock worth $2,029,604,000 after purchasing an additional 5,350,381 shares during the period. Finally, Fisher Asset Management LLC boosted its stake in Pfizer by 79.5% in the fourth 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 last quarter. Institutional investors and hedge funds 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 on Thursday, February 13th. The shares were bought at an average price of $25.65 per share, with a total value of $499,072.05. Following the completion of the acquisition, the director now owns 27,707 shares in the company, valued at $710,684.55. This trade represents a 235.84 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.06% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on PFE shares. Truist Financial lowered their price objective on Pfizer from $36.00 to $32.00 and set a "buy" rating on the stock in a research note on Wednesday, December 18th. The Goldman Sachs Group reissued a "neutral" rating and set a $25.00 target price (down previously from $32.00) on shares of Pfizer in a report on Tuesday. Hsbc Global Res raised shares of Pfizer to a "strong-buy" rating in a research note on Monday, March 10th. Citigroup reiterated a "neutral" rating on shares of Pfizer in a research report on Thursday, March 27th. Finally, Guggenheim reaffirmed a "buy" rating on shares of Pfizer in a research note on Tuesday, March 18th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, Pfizer has a consensus rating of "Moderate Buy" and a consensus price target of $31.07.

Pfizer Trading Down 3.7 %

Pfizer stock traded down $0.83 during midday trading on Thursday, hitting $21.67. 40,947,970 shares of the stock were exchanged, compared to its average volume of 40,049,608. The company has a current ratio of 1.00, a quick ratio of 0.73 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $122.87 billion, a price-to-earnings ratio of 15.29, a PEG ratio of 0.64 and a beta of 0.67. The stock's 50-day simple moving average is $25.42 and its 200 day simple moving average is $26.51. Pfizer Inc. has a fifty-two week low of $20.92 and a fifty-two week high of $31.54.

Pfizer (NYSE:PFE - Get Free Report) last announced its 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 analyst estimates of $17.26 billion. During the same quarter last year, the firm posted $0.10 earnings per share. Pfizer's revenue was up 24.7% compared to the same quarter last year. On average, equities analysts anticipate 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.