Causeway Capital Management LLC Has $48.62 Million Stock Position in Pfizer Inc. (NYSE:PFE)

Causeway Capital Management LLC trimmed its holdings in Pfizer Inc. (NYSE:PFE - Free Report) by 17.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,832,790 shares of the biopharmaceutical company's stock after selling 378,520 shares during the period. Pfizer accounts for approximately 1.1% of Causeway Capital Management LLC's holdings, making the stock its 26th largest position. Causeway Capital Management LLC's holdings in Pfizer were worth $48,624,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. Norges Bank bought a new stake in shares of Pfizer during the 4th quarter worth about $2,328,986,000. Charles Schwab Investment Management Inc. grew its stake 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 valued at $4,124,330,000 after buying an additional 25,315,159 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Pfizer during the 4th quarter worth about $274,694,000. Massachusetts Financial Services Co. MA grew its holdings in Pfizer by 7.5% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 76,502,238 shares of the biopharmaceutical company's stock valued at $2,029,604,000 after buying an additional 5,350,381 shares during the last quarter. Finally, APG Asset Management N.V. boosted its position in shares of Pfizer by 1,106.0% in the fourth quarter. APG Asset Management N.V. now owns 5,619,213 shares of the biopharmaceutical company's stock valued at $143,967,000 after acquiring an additional 5,153,257 shares during the period. Institutional investors and hedge funds own 68.36% of the company's stock.

Analysts Set New Price Targets

Several analysts have issued reports on PFE shares. Guggenheim restated a "buy" rating on shares of Pfizer in a research report on Tuesday, March 18th. The Goldman Sachs Group reissued a "neutral" rating and set a $25.00 target price (down from $32.00) on shares of Pfizer in a research report on Tuesday, April 8th. UBS Group reduced their price objective on Pfizer from $28.00 to $24.00 and set a "neutral" rating for the company in a research report on Tuesday, April 8th. Citigroup restated a "neutral" rating on shares of Pfizer in a research note on Thursday, March 27th. Finally, Hsbc Global Res upgraded shares of Pfizer to a "strong-buy" rating in a research note on Monday, March 10th. One equities 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 given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $31.07.

Pfizer Price Performance

Pfizer stock traded up $0.09 on Friday, reaching $22.13. The company's stock had a trading volume of 53,854,504 shares, compared to its average volume of 40,458,828. Pfizer Inc. has a twelve month low of $20.92 and a twelve month high of $31.54. The company has a market cap of $125.50 billion, a price-to-earnings ratio of 15.69, a PEG ratio of 0.64 and a beta of 0.67. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.73 and a current ratio of 1.00. The business's fifty day moving average price is $24.95 and its 200 day moving average price is $26.23.

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 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 during the quarter, compared to the consensus estimate of $17.26 billion. During the same period in the previous year, the firm posted $0.10 earnings per share. The company's revenue was up 24.7% on a year-over-year basis. Equities analysts expect that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.

Insider Transactions at Pfizer

In other news, Director Ronald E. Blaylock acquired 19,457 shares of the stock in a transaction that occurred on Thursday, February 13th. The stock was purchased at an average cost of $25.65 per share, for a total transaction of $499,072.05. Following the completion of the transaction, the director now directly 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 purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.06% of the stock is currently owned by corporate insiders.

Pfizer 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.