OVERSEA CHINESE BANKING Corp Ltd Decreases Stock Position in Pfizer Inc. (NYSE:PFE)

OVERSEA CHINESE BANKING Corp Ltd trimmed its holdings in Pfizer Inc. (NYSE:PFE - Free Report) by 71.9% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 8,900 shares of the biopharmaceutical company's stock after selling 22,823 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd's holdings in Pfizer were worth $236,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. Charles Schwab Investment Management Inc. raised its holdings in shares of Pfizer by 19.5% during 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 purchasing an additional 25,315,159 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of 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 shares of Pfizer by 22.4% in 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 buying an additional 6,977,587 shares during the last quarter. Fisher Asset Management LLC grew its holdings 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 acquiring an additional 4,938,209 shares during the period. Finally, Van ECK Associates Corp increased its position in Pfizer by 28.5% during 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 acquiring an additional 4,726,549 shares during the last quarter. Hedge funds and other institutional investors own 68.36% of the company's stock.

Remove Ads

Insider Activity at Pfizer

In other news, Director Ronald E. Blaylock acquired 19,457 shares of the firm's stock in a transaction dated Thursday, February 13th. The shares were acquired at an average cost of $25.65 per share, with a total value of $499,072.05. Following the acquisition, the director now directly owns 27,707 shares of the company's stock, valued at approximately $710,684.55. The trade was a 235.84 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.06% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

PFE has been the subject of a number of recent research reports. Hsbc Global Res upgraded Pfizer to a "strong-buy" rating in a research note on Monday, March 10th. Truist Financial decreased their price target 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. UBS Group reduced their price objective on Pfizer from $31.00 to $29.00 and set a "neutral" rating for the company in a research note on Wednesday, January 8th. Guggenheim reiterated a "buy" rating on shares of Pfizer in a research report on Tuesday, March 18th. Finally, Citigroup reduced their price target 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 given a hold rating, six have given a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $31.92.

Pfizer Price Performance

PFE traded down $0.15 during trading on Monday, reaching $26.13. 37,863,216 shares of the company traded hands, compared to its average volume of 36,650,986. 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 $26.17 and a 200 day simple moving average of $27.04. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.73 and a current ratio of 1.00. The company has a market cap of $148.21 billion, a P/E ratio of 18.53, a PEG ratio of 0.64 and a beta of 0.61.

Pfizer (NYSE:PFE - Get Free Report) last announced its quarterly earnings results 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 net margin of 12.62% and a return on equity of 19.47%. Pfizer's revenue for the quarter was up 24.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.10 EPS. On average, equities analysts forecast that Pfizer Inc. will post 2.95 EPS for the current 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.