Cornercap Investment Counsel Inc. Takes $1.66 Million Position in Pfizer Inc. (NYSE:PFE)

Cornercap Investment Counsel Inc. acquired a new position in shares of Pfizer Inc. (NYSE:PFE - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 62,397 shares of the biopharmaceutical company's stock, valued at approximately $1,655,000. Pfizer makes up approximately 0.5% of Cornercap Investment Counsel Inc.'s portfolio, making the stock its 27th biggest holding.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. United Bank raised its stake in shares of Pfizer by 3.7% in the third quarter. United Bank now owns 35,599 shares of the biopharmaceutical company's stock valued at $1,030,000 after acquiring an additional 1,277 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in Pfizer by 67.4% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 14,801 shares of the biopharmaceutical company's stock valued at $428,000 after purchasing an additional 5,959 shares during the last quarter. Loomis Sayles & Co. L P boosted its stake in Pfizer by 7.3% in the third quarter. Loomis Sayles & Co. L P now owns 8,450 shares of the biopharmaceutical company's stock worth $245,000 after purchasing an additional 577 shares in the last quarter. FMR LLC grew its holdings in shares of Pfizer by 3.1% during the third quarter. FMR LLC now owns 14,478,489 shares of the biopharmaceutical company's stock worth $419,007,000 after purchasing an additional 435,311 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new stake in shares of Pfizer in the third quarter valued at $1,685,000. 68.36% of the stock is owned by institutional investors.

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Insiders Place Their Bets

In other Pfizer news, Director Ronald E. Blaylock acquired 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 document filed with the SEC, which can be accessed through this link. Insiders own 0.06% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on PFE. Truist Financial lowered their price objective on shares of Pfizer from $36.00 to $32.00 and set a "buy" rating for the company in a research report on Wednesday, December 18th. Citigroup dropped their price objective on shares of Pfizer from $30.00 to $29.00 and set a "neutral" rating for the company in a research report on Tuesday, January 28th. Hsbc Global Res upgraded Pfizer to a "strong-buy" rating in a research report on Monday, March 10th. Bank of America restated a "neutral" rating and set a $29.00 target price on shares of Pfizer in a research report on Tuesday, December 10th. Finally, Guggenheim reiterated a "buy" rating on shares of Pfizer in a research report on Tuesday, March 18th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $31.92.

Pfizer Stock Up 0.6 %

Shares of NYSE:PFE traded up $0.15 during trading on Monday, hitting $25.36. 36,530,357 shares of the company's stock traded hands, compared to its average volume of 39,094,621. The company has a 50-day moving average price of $26.06 and a 200-day moving average price of $26.90. Pfizer Inc. has a 52 week low of $24.48 and a 52 week 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. The company has a market cap of $143.80 billion, a price-to-earnings ratio of 17.98, a price-to-earnings-growth ratio of 0.64 and a beta of 0.61.

Pfizer (NYSE:PFE - Get Free Report) last released its earnings results on Tuesday, February 4th. The biopharmaceutical company reported $0.63 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.48 by $0.15. The firm had revenue of $17.76 billion during the quarter, compared to analysts' expectations of $17.26 billion. Pfizer had a return on equity of 19.47% and a net margin of 12.62%. The company's revenue was up 24.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.10 EPS. As a group, research analysts forecast that Pfizer Inc. will post 2.95 EPS for the current fiscal year.

About Pfizer

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.