KLP Kapitalforvaltning AS Takes $72.14 Million Position in Pfizer Inc. (NYSE:PFE)

KLP Kapitalforvaltning AS bought a new stake in shares of Pfizer Inc. (NYSE:PFE - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 2,719,332 shares of the biopharmaceutical company's stock, valued at approximately $72,144,000.

Other large investors also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. lifted its holdings in shares of 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 acquiring an additional 25,315,159 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Pfizer during the 4th quarter valued at $274,694,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Pfizer by 22.4% during the third 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 buying an additional 6,977,587 shares during the period. Fisher Asset Management LLC lifted its holdings in shares of Pfizer by 79.5% in the 4th quarter. Fisher Asset Management LLC now owns 11,148,116 shares of the biopharmaceutical company's stock worth $295,760,000 after acquiring an additional 4,938,209 shares during the last quarter. Finally, Van ECK Associates Corp grew its holdings in Pfizer by 28.5% during the 4th 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 during the last quarter. Institutional investors own 68.36% of the company's stock.

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Analysts Set New Price Targets

PFE has been the subject of several analyst reports. Citigroup decreased their price objective on shares of Pfizer from $30.00 to $29.00 and set a "neutral" rating for the company in a research note on Tuesday, January 28th. Guggenheim restated a "buy" rating on shares of Pfizer in a report on Tuesday, March 18th. Bank of America reissued a "neutral" rating and set a $29.00 target price on shares of Pfizer in a research note on Tuesday, December 10th. Hsbc Global Res upgraded shares of Pfizer to a "strong-buy" rating in a report on Monday, March 10th. Finally, UBS Group reduced their target price on shares of Pfizer from $31.00 to $29.00 and set a "neutral" rating on the stock in a research report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, seven 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 data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $31.92.

Pfizer Stock Performance

Pfizer stock traded down $0.24 during trading hours on Tuesday, hitting $25.91. 3,179,621 shares of the stock traded hands, compared to its average volume of 36,645,983. Pfizer Inc. has a 1 year low of $24.48 and a 1 year high of $31.54. The stock has a market capitalization of $146.92 billion, a price-to-earnings ratio of 18.40, a P/E/G ratio of 0.64 and a beta of 0.61. 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 firm's 50 day moving average price is $26.15 and its 200-day moving average price is $27.02.

Pfizer (NYSE:PFE - Get Free Report) last issued its earnings results on Tuesday, February 4th. The biopharmaceutical company reported $0.63 EPS for the quarter, topping analysts' consensus estimates of $0.48 by $0.15. The firm 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 company's revenue was up 24.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.10 earnings per share. As a group, equities analysts expect that Pfizer Inc. will post 2.95 EPS for the current fiscal year.

Insider Activity at Pfizer

In other Pfizer news, Director Ronald E. Blaylock purchased 19,457 shares of Pfizer stock in a transaction that occurred on Thursday, February 13th. The stock was bought at an average price of $25.65 per share, with a total value of $499,072.05. Following the acquisition, the director now owns 27,707 shares of the company's stock, valued at $710,684.55. This trade represents a 235.84 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.06% of the company's stock.

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.