Pfizer Inc. (NYSE:PFE) Stock Holdings Reduced by Payden & Rygel

Payden & Rygel cut its holdings in shares of Pfizer Inc. (NYSE:PFE - Free Report) by 92.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 24,680 shares of the biopharmaceutical company's stock after selling 289,300 shares during the period. Payden & Rygel's holdings in Pfizer were worth $655,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Norges Bank bought a new position in Pfizer during the 4th quarter valued at $2,328,986,000. 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 worth $4,124,330,000 after purchasing an additional 25,315,159 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Pfizer in the fourth quarter valued at $274,694,000. Massachusetts Financial Services Co. MA boosted its holdings in shares of Pfizer by 7.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 76,502,238 shares of the biopharmaceutical company's stock valued at $2,029,604,000 after acquiring an additional 5,350,381 shares during the period. Finally, Fisher Asset Management LLC boosted its stake in Pfizer by 79.5% during the 4th quarter. Fisher Asset Management LLC now owns 11,148,116 shares of the biopharmaceutical company's stock valued at $295,760,000 after purchasing an additional 4,938,209 shares during the period. 68.36% of the stock is currently owned by hedge funds and other institutional investors.

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Insider Transactions at Pfizer

In other Pfizer news, Director Ronald E. Blaylock bought 19,457 shares of the company's stock in a transaction dated Thursday, February 13th. The shares were bought at an average price of $25.65 per share, for a total transaction 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. This trade represents a 235.84 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.06% of the stock is currently owned by insiders.

Analysts Set New Price Targets

PFE has been the topic of a number of research analyst reports. Truist Financial lowered their price target on Pfizer from $36.00 to $32.00 and set a "buy" rating on the stock in a report on Wednesday, December 18th. Bank of America reissued a "neutral" rating and set a $29.00 target price on shares of Pfizer in a report on Tuesday, December 10th. Hsbc Global Res raised Pfizer to a "strong-buy" rating in a research note on Monday, March 10th. Citigroup reissued a "neutral" rating on shares of Pfizer in a research note on Thursday, March 27th. Finally, Guggenheim reaffirmed a "buy" rating on shares of Pfizer in a research note on Tuesday, March 18th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, six have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $31.92.

Pfizer Trading Down 5.4 %

NYSE PFE traded down $1.30 on Friday, hitting $22.99. 79,829,399 shares of the company were exchanged, compared to its average volume of 39,460,357. Pfizer Inc. has a twelve month low of $22.95 and a twelve month high of $31.54. The company's 50 day moving average price is $25.87 and its 200-day moving average price is $26.72. The firm has a market capitalization of $130.39 billion, a P/E ratio of 16.31, a price-to-earnings-growth ratio of 0.64 and a beta of 0.67. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.00 and a quick ratio of 0.73.

Pfizer (NYSE:PFE - Get Free Report) last released 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. Pfizer had a net margin of 12.62% and a return on equity of 19.47%. The business had revenue of $17.76 billion for the quarter, compared to analyst estimates of $17.26 billion. During the same quarter in the previous year, the business earned $0.10 earnings per share. The firm's revenue was up 24.7% compared to the same quarter last year. Analysts predict that Pfizer Inc. will post 2.95 earnings per share 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.