DnB Asset Management AS Raises Holdings in Pfizer Inc. (NYSE:PFE)

DnB Asset Management AS boosted its stake in shares of Pfizer Inc. (NYSE:PFE - Free Report) by 22.9% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 1,893,396 shares of the biopharmaceutical company's stock after acquiring an additional 352,515 shares during the period. DnB Asset Management AS's holdings in Pfizer were worth $50,232,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. United Bank increased its position in shares of Pfizer by 3.7% during the third quarter. United Bank now owns 35,599 shares of the biopharmaceutical company's stock worth $1,030,000 after purchasing an additional 1,277 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Pfizer by 67.4% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 14,801 shares of the biopharmaceutical company's stock worth $428,000 after purchasing an additional 5,959 shares during the period. Loomis Sayles & Co. L P grew its stake in shares of Pfizer by 7.3% in the third quarter. Loomis Sayles & Co. L P now owns 8,450 shares of the biopharmaceutical company's stock valued at $245,000 after buying an additional 577 shares in the last quarter. FMR LLC increased its stake in 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 period. Finally, Quantbot Technologies LP purchased a new stake in shares of Pfizer during the third quarter worth $1,685,000. Institutional investors and hedge funds own 68.36% of the company's stock.

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Pfizer Stock Performance

NYSE:PFE traded up $0.19 during midday trading on Friday, reaching $25.20. The stock had a trading volume of 32,322,049 shares, compared to its average volume of 39,037,478. The stock has a market cap of $142.93 billion, a P/E ratio of 17.87, a P/E/G ratio of 0.64 and a beta of 0.61. The company has a quick ratio of 0.73, a current ratio of 1.00 and a debt-to-equity ratio of 0.63. Pfizer Inc. has a 12-month low of $24.48 and a 12-month high of $31.54. The firm has a fifty day simple moving average of $26.06 and a two-hundred day simple moving average of $26.92.

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

Insider Activity at Pfizer

In related news, Director Ronald E. Blaylock bought 19,457 shares of the firm's stock in a transaction on Thursday, February 13th. The shares were bought at an average cost of $25.65 per share, for a total transaction of $499,072.05. Following the transaction, the director now owns 27,707 shares of the company's stock, valued at approximately $710,684.55. This trade represents a 235.84 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.06% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. UBS Group lowered their price target on shares of Pfizer from $31.00 to $29.00 and set a "neutral" rating for the company in a report on Wednesday, January 8th. Truist Financial dropped their target price on shares of Pfizer from $36.00 to $32.00 and set a "buy" rating on the stock in a research report on Wednesday, December 18th. Bank of America reissued a "neutral" rating and issued a $29.00 price target on shares of Pfizer in a research report on Tuesday, December 10th. Hsbc Global Res upgraded Pfizer to a "strong-buy" rating in a research report on Monday, March 10th. Finally, Citigroup decreased their target price on Pfizer from $30.00 to $29.00 and set a "neutral" rating for the company in a research report on Tuesday, January 28th. One research 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 MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $31.92.

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.