Columbia Asset Management Trims Holdings in Pfizer Inc. (NYSE:PFE)

Columbia Asset Management cut its holdings in Pfizer Inc. (NYSE:PFE - Free Report) by 14.9% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 163,854 shares of the biopharmaceutical company's stock after selling 28,637 shares during the period. Columbia Asset Management's holdings in Pfizer were worth $4,347,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in PFE. Nordea Investment Management AB boosted its stake in shares of Pfizer by 36.1% during the fourth quarter. Nordea Investment Management AB now owns 4,071,700 shares of the biopharmaceutical company's stock valued at $108,002,000 after acquiring an additional 1,080,822 shares during the last quarter. Parsons Capital Management Inc. RI boosted its stake in shares of Pfizer by 118.7% during the 4th quarter. Parsons Capital Management Inc. RI now owns 294,764 shares of the biopharmaceutical company's stock worth $7,820,000 after purchasing an additional 159,984 shares during the last quarter. NFJ Investment Group LLC grew its holdings in shares of Pfizer by 12.8% during the third quarter. NFJ Investment Group LLC now owns 384,571 shares of the biopharmaceutical company's stock worth $11,129,000 after buying an additional 43,719 shares in the last quarter. Copley Financial Group Inc. acquired a new position in shares of Pfizer in the third quarter valued at approximately $577,000. Finally, Zacks Investment Management lifted its stake in shares of Pfizer by 10.9% during the third quarter. Zacks Investment Management now owns 2,389,138 shares of the biopharmaceutical company's stock valued at $69,142,000 after buying an additional 235,243 shares during the period. 68.36% of the stock is currently owned by hedge funds and other institutional investors.

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Insider Activity

In other news, Director Ronald E. Blaylock purchased 19,457 shares of the company's stock in a transaction that occurred on Thursday, February 13th. The shares were purchased at an average price of $25.65 per share, with a total value of $499,072.05. Following the purchase, the director now directly owns 27,707 shares of the company's stock, valued at approximately $710,684.55. This represents a 235.84 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.06% of the company's stock.

Wall Street Analysts Forecast Growth

PFE has been the subject of several analyst reports. Hsbc Global Res upgraded Pfizer to a "strong-buy" rating in a report on Monday, March 10th. Citigroup reiterated a "neutral" rating on shares of Pfizer in a research report on Thursday, March 27th. Bank of America restated a "neutral" rating and issued a $29.00 price target on shares of Pfizer in a report on Tuesday, December 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, Guggenheim reaffirmed a "buy" rating on shares of Pfizer in a research report on Tuesday, March 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's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $31.92.

Pfizer Stock Down 1.6 %

NYSE:PFE traded down $0.41 during mid-day trading on Thursday, hitting $24.30. The company had a trading volume of 53,412,700 shares, compared to its average volume of 39,300,470. The business has a fifty day simple moving average of $25.98 and a 200-day simple moving average of $26.83. The firm has a market capitalization of $137.79 billion, a price-to-earnings ratio of 17.23, a PEG ratio of 0.64 and a beta of 0.61. Pfizer Inc. has a 1 year low of $24.26 and a 1 year high of $31.54. The company has a current ratio of 1.00, a quick ratio of 0.73 and a debt-to-equity ratio of 0.63.

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 the consensus estimate of $0.48 by $0.15. Pfizer had a return on equity of 19.47% and a net margin of 12.62%. The firm had revenue of $17.76 billion for the quarter, compared to analyst estimates of $17.26 billion. During the same period in the previous year, the company posted $0.10 EPS. Pfizer's revenue for the quarter was up 24.7% on a year-over-year basis. Equities analysts forecast that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.

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.