Pfizer Inc. (NYSE:PFE) Position Trimmed by California Public Employees Retirement System

California Public Employees Retirement System trimmed its holdings in Pfizer Inc. (NYSE:PFE - Free Report) by 0.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,073,641 shares of the biopharmaceutical company's stock after selling 29,435 shares during the period. California Public Employees Retirement System owned about 0.28% of Pfizer worth $426,434,000 as of its most recent SEC filing.

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

Insiders Place Their Bets

In other news, Director Ronald E. Blaylock acquired 19,457 shares of the business's stock in a transaction dated 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 completion of the acquisition, the director now directly owns 27,707 shares in the company, valued at $710,684.55. This represents a 235.84 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. 0.06% of the stock is currently owned by insiders.

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Pfizer Stock Performance

Shares of NYSE PFE traded up $0.08 during midday trading on Wednesday, reaching $24.62. 18,608,774 shares of the company traded hands, compared to its average volume of 39,126,591. The company has a market cap of $139.63 billion, a price-to-earnings ratio of 17.46, a PEG ratio of 0.64 and a beta of 0.61. The stock has a 50-day moving average price of $26.00 and a 200 day moving average price of $26.84. Pfizer Inc. has a 52 week low of $24.33 and a 52 week high of $31.54. 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 (NYSE:PFE - Get Free Report) last released its quarterly earnings results on Tuesday, February 4th. The biopharmaceutical company reported $0.63 EPS for the quarter, topping analysts' consensus estimates of $0.48 by $0.15. The company had revenue of $17.76 billion for the quarter, compared to the consensus estimate of $17.26 billion. Pfizer had a net margin of 12.62% and a return on equity of 19.47%. Pfizer's revenue was up 24.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.10 EPS. Sell-side analysts anticipate that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.

Analyst Ratings Changes

PFE has been the topic of a number of research reports. Hsbc Global Res raised shares of Pfizer to a "strong-buy" rating in a report on Monday, March 10th. Truist Financial dropped their price objective on shares of Pfizer from $36.00 to $32.00 and set a "buy" rating on the stock in a research note on Wednesday, December 18th. UBS Group decreased their target price on Pfizer from $31.00 to $29.00 and set a "neutral" rating for the company in a research note on Wednesday, January 8th. Bank of America reiterated a "neutral" rating and set a $29.00 price target on shares of Pfizer in a research report on Tuesday, December 10th. Finally, Citigroup cut their price target 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 issued a hold rating, six have issued a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $31.92.

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.