Scotia Capital Inc. Reduces Stock Position in Pfizer Inc. (NYSE:PFE)

Scotia Capital Inc. reduced its position in shares of Pfizer Inc. (NYSE:PFE - Free Report) by 29.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 794,246 shares of the biopharmaceutical company's stock after selling 328,203 shares during the period. Scotia Capital Inc.'s holdings in Pfizer were worth $21,073,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of PFE. Retirement Wealth Solutions LLC acquired a new position in shares of Pfizer during the fourth quarter valued at approximately $26,000. Rialto Wealth Management LLC acquired a new stake in Pfizer in the 4th quarter valued at about $26,000. Kohmann Bosshard Financial Services LLC bought a new position in shares of Pfizer during the 4th quarter valued at about $28,000. Noble Wealth Management PBC acquired a new stake in Pfizer during the fourth quarter valued at approximately $31,000. Finally, Bernard Wealth Management Corp. acquired a new position in Pfizer in the fourth quarter worth approximately $33,000. Institutional investors and hedge funds own 68.36% of the company's stock.

Analysts Set New Price Targets

A number of research firms have commented on PFE. Truist Financial reduced their price objective on shares of Pfizer from $36.00 to $32.00 and set a "buy" rating for the company in a research note on Wednesday, December 18th. UBS Group cut their target price on shares of Pfizer from $28.00 to $24.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. The Goldman Sachs Group reiterated a "neutral" rating and set a $25.00 price target (down previously from $32.00) on shares of Pfizer in a report on Tuesday, April 8th. Citigroup reaffirmed 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 equities research analyst has rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $31.07.

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Insider Buying and Selling at Pfizer

In other news, Director Ronald E. Blaylock acquired 19,457 shares of the firm's stock in a transaction that occurred on 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 completion of the purchase, the director now directly owns 27,707 shares of the company's stock, valued at $710,684.55. The trade was a 235.84 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.06% of the company's stock.

Pfizer Trading Up 0.4 %

PFE traded up $0.09 during midday trading on Monday, reaching $22.00. 24,009,534 shares of the company were exchanged, compared to its average volume of 40,175,772. Pfizer Inc. has a one year low of $20.92 and a one year high of $31.54. 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 stock has a market capitalization of $124.77 billion, a P/E ratio of 15.60, a PEG ratio of 0.64 and a beta of 0.67. The stock's 50-day simple moving average is $25.25 and its 200 day simple moving average is $26.38.

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

Pfizer Company 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.