Corebridge Financial Inc. Sells 62,333 Shares of Pfizer Inc. (NYSE:PFE)

Corebridge Financial Inc. reduced its stake in Pfizer Inc. (NYSE:PFE - Free Report) by 4.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,302,451 shares of the biopharmaceutical company's stock after selling 62,333 shares during the period. Corebridge Financial Inc.'s holdings in Pfizer were worth $34,554,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Charles Schwab Investment Management Inc. raised its position in shares of Pfizer by 19.5% in the fourth 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 in the last quarter. Raymond James Financial Inc. acquired a new position in Pfizer in the 4th quarter valued at $274,694,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Pfizer by 22.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 38,068,879 shares of the biopharmaceutical company's stock worth $1,101,713,000 after purchasing an additional 6,977,587 shares in the last quarter. Fisher Asset Management LLC increased its position in shares of Pfizer by 79.5% in the fourth quarter. Fisher Asset Management LLC now owns 11,148,116 shares of the biopharmaceutical company's stock worth $295,760,000 after purchasing an additional 4,938,209 shares during the period. Finally, Van ECK Associates Corp raised its stake in Pfizer by 28.5% in the fourth quarter. Van ECK Associates Corp now owns 21,286,805 shares of the biopharmaceutical company's stock valued at $564,739,000 after purchasing an additional 4,726,549 shares in the last quarter. 68.36% of the stock is owned by institutional investors.

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Analyst Ratings Changes

A number of equities research analysts have issued reports on PFE shares. Truist Financial reduced 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. Bank of America reissued a "neutral" rating and issued a $29.00 price objective on shares of Pfizer in a research note on Tuesday, December 10th. UBS Group cut 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. Citigroup cut their price objective on Pfizer from $30.00 to $29.00 and set a "neutral" rating on the stock in a report on Tuesday, January 28th. Finally, Guggenheim reaffirmed a "buy" rating on shares of Pfizer in a report on Tuesday, March 18th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, six have given a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $31.92.

Pfizer Trading Down 0.6 %

NYSE PFE traded down $0.16 during mid-day trading on Thursday, reaching $25.05. 51,260,038 shares of the stock were exchanged, compared to its average volume of 36,817,956. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.00 and a quick ratio of 0.73. The stock has a market cap of $142.08 billion, a P/E ratio of 17.77, a P/E/G ratio of 0.64 and a beta of 0.61. The stock has a 50 day simple moving average of $26.09 and a 200-day simple moving average of $26.97. Pfizer Inc. has a one year low of $24.48 and a one year high of $31.54.

Pfizer (NYSE:PFE - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The biopharmaceutical company reported $0.63 earnings per share (EPS) for the quarter, beating 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 return on equity of 19.47% and a net margin of 12.62%. The firm's revenue was up 24.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.10 EPS. On average, analysts anticipate that Pfizer Inc. will post 2.95 EPS for the current year.

Insider Transactions at Pfizer

In other news, Director Ronald E. Blaylock bought 19,457 shares of Pfizer stock in a transaction dated Thursday, February 13th. The stock was bought at an average cost of $25.65 per share, for a total transaction of $499,072.05. Following the purchase, the director now directly owns 27,707 shares in the company, valued at approximately $710,684.55. This represents a 235.84 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.06% of the company's stock.

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.