Pictet Asset Management Holding SA Reduces Holdings in Pfizer Inc. (NYSE:PFE)

Pictet Asset Management Holding SA reduced its position in Pfizer Inc. (NYSE:PFE - Free Report) by 2.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,497,107 shares of the biopharmaceutical company's stock after selling 59,824 shares during the quarter. Pictet Asset Management Holding SA's holdings in Pfizer were worth $66,248,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Retirement Wealth Solutions LLC purchased a new stake in shares of Pfizer in the fourth quarter valued at approximately $26,000. Rialto Wealth Management LLC purchased a new stake in Pfizer in the 4th quarter valued at $26,000. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Pfizer in the 4th quarter worth $28,000. Noble Wealth Management PBC purchased a new position in shares of Pfizer during the 4th quarter worth $31,000. Finally, Curio Wealth LLC acquired a new position in shares of Pfizer during the 4th quarter valued at about $32,000. Hedge funds and other institutional investors own 68.36% of the company's stock.

Insiders Place Their Bets

In related news, Director Ronald E. Blaylock purchased 19,457 shares of the company's stock in a transaction on Thursday, February 13th. The shares were bought at an average cost of $25.65 per share, for a total transaction 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 approximately $710,684.55. This trade represents a 235.84 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.06% of the stock is owned by company insiders.

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Pfizer Stock Up 0.3 %

Pfizer stock traded up $0.08 during mid-day trading on Wednesday, reaching $24.62. 12,827,766 shares of the company's stock were exchanged, compared to its average volume of 44,926,781. The company has a quick ratio of 0.73, a current ratio of 1.00 and a debt-to-equity ratio of 0.63. Pfizer Inc. has a twelve month low of $24.31 and a twelve month high of $31.54. The company has a market cap of $139.60 billion, a P/E ratio of 17.46, a P/E/G ratio of 0.64 and a beta of 0.61. The company has a fifty day moving average of $26.00 and a 200-day moving average of $26.84.

Pfizer (NYSE:PFE - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The biopharmaceutical company reported $0.63 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 business had revenue of $17.76 billion during the quarter, compared to the consensus estimate of $17.26 billion. During the same period in the previous year, the company posted $0.10 earnings per share. The business's revenue for the quarter was up 24.7% on a year-over-year basis. Sell-side analysts expect that Pfizer Inc. will post 2.95 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on PFE. Bank of America reaffirmed a "neutral" rating and set a $29.00 target price on shares of Pfizer in a research note on Tuesday, December 10th. Truist Financial reduced 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. Hsbc Global Res raised Pfizer to a "strong-buy" rating in a research note on Monday, March 10th. Guggenheim restated a "buy" rating on shares of Pfizer in a research report on Tuesday, March 18th. Finally, UBS Group lowered their price target on Pfizer from $31.00 to $29.00 and set a "neutral" rating for the company in a report on Wednesday, January 8th. One equities 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 given a strong buy rating to the company. According to data from MarketBeat.com, Pfizer currently has an average rating of "Moderate Buy" and an average price target of $31.92.

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.