NewEdge Advisors LLC Reduces Stake in Pfizer Inc. (NYSE:PFE)

NewEdge Advisors LLC lowered its holdings in Pfizer Inc. (NYSE:PFE - Free Report) by 28.4% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 414,555 shares of the biopharmaceutical company's stock after selling 164,478 shares during the period. NewEdge Advisors LLC's holdings in Pfizer were worth $10,998,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in PFE. Retirement Wealth Solutions LLC bought a new stake in Pfizer during the fourth quarter worth $26,000. Rialto Wealth Management LLC bought a new position in Pfizer in the fourth quarter valued at about $26,000. Kohmann Bosshard Financial Services LLC bought a new position in shares of Pfizer in the fourth quarter worth about $28,000. Noble Wealth Management PBC bought a new position in Pfizer in the 4th quarter valued at approximately $31,000. Finally, Curio Wealth LLC bought a new stake in Pfizer during the 4th quarter worth $32,000. 68.36% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on PFE. Guggenheim restated a "buy" rating on shares of Pfizer in a report on Tuesday, March 18th. Hsbc Global Res upgraded shares of Pfizer to a "strong-buy" rating in a report on Monday, March 10th. Cantor Fitzgerald assumed coverage on Pfizer in a report on Tuesday. They set a "neutral" rating and a $24.00 target price on the stock. The Goldman Sachs Group restated a "neutral" rating and set a $25.00 price objective (down from $32.00) on shares of Pfizer in a research report on Tuesday, April 8th. Finally, Citigroup reissued a "neutral" rating on shares of Pfizer in a research report on Thursday, March 27th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, five have given a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, Pfizer currently has an average rating of "Moderate Buy" and a consensus target price of $29.57.

Insider Transactions at Pfizer

In other news, Director Ronald E. Blaylock acquired 19,457 shares of the stock in a transaction that occurred on Thursday, February 13th. The shares were acquired at an average cost of $25.65 per share, for a total transaction of $499,072.05. Following the purchase, the director now owns 27,707 shares of the company's stock, valued at approximately $710,684.55. The trade was a 235.84 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.06% of the stock is currently owned by company insiders.

Pfizer Stock Up 1.8 %

NYSE:PFE traded up $0.41 on Tuesday, hitting $22.45. The stock had a trading volume of 9,460,233 shares, compared to its average volume of 47,693,605. The company has a quick ratio of 0.73, a current ratio of 1.00 and a debt-to-equity ratio of 0.63. The company has a market cap of $127.30 billion, a PE ratio of 15.92, a P/E/G ratio of 0.64 and a beta of 0.67. Pfizer Inc. has a 52 week low of $20.92 and a 52 week high of $31.54. The business's fifty day moving average is $24.81 and its 200 day moving average is $26.11.

Pfizer (NYSE:PFE - Get Free Report) last issued its quarterly 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 business had revenue of $17.76 billion for the quarter, compared to analyst estimates of $17.26 billion. Pfizer had a return on equity of 19.47% and a net margin of 12.62%. Pfizer's quarterly revenue was up 24.7% compared to the same quarter last year. During the same period last year, the company posted $0.10 earnings per share. On average, equities research analysts expect that Pfizer Inc. will post 2.95 EPS 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.