Resona Asset Management Co. Ltd. Takes $48.98 Million Position in Pfizer Inc. (NYSE:PFE)

Resona Asset Management Co. Ltd. acquired a new stake in Pfizer Inc. (NYSE:PFE - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 1,845,310 shares of the biopharmaceutical company's stock, valued at approximately $48,977,000.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in Pfizer by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 518,535,151 shares of the biopharmaceutical company's stock valued at $13,756,738,000 after purchasing an additional 2,285,276 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in 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 worth $4,124,330,000 after buying an additional 25,315,159 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Pfizer by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 120,589,782 shares of the biopharmaceutical company's stock worth $3,190,131,000 after buying an additional 2,923,537 shares during the period. Norges Bank bought a new stake in shares of Pfizer in the 4th quarter valued at about $2,328,986,000. Finally, Massachusetts Financial Services Co. MA boosted its stake in Pfizer by 7.5% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 76,502,238 shares of the biopharmaceutical company's stock worth $2,029,604,000 after acquiring an additional 5,350,381 shares during the last quarter. Institutional investors and hedge funds own 68.36% of the company's stock.

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Pfizer Stock Down 5.4 %

NYSE PFE traded down $1.30 during trading hours on Friday, hitting $22.99. 79,829,399 shares of the company traded hands, compared to its average volume of 39,460,357. 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 business's 50-day moving average is $25.87 and its 200-day moving average is $26.72. The stock has a market capitalization of $130.39 billion, a price-to-earnings ratio of 16.31, a P/E/G ratio of 0.64 and a beta of 0.67. Pfizer Inc. has a twelve month low of $22.95 and a twelve month high of $31.54.

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

Wall Street Analysts Forecast Growth

PFE has been the subject of several research analyst reports. Guggenheim reissued a "buy" rating on shares of Pfizer in a report on Tuesday, March 18th. Hsbc Global Res upgraded Pfizer to a "strong-buy" rating in a report on Monday, March 10th. UBS Group cut their price objective on Pfizer from $31.00 to $29.00 and set a "neutral" rating on the stock in a report on Wednesday, January 8th. Bank of America reissued a "neutral" rating and set a $29.00 target price on shares of Pfizer in a research note on Tuesday, December 10th. Finally, Citigroup reaffirmed a "neutral" rating on shares of Pfizer in a research note on Thursday, March 27th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, six have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $31.92.

Insider Buying and Selling

In related news, Director Ronald E. Blaylock bought 19,457 shares of the business's stock in a transaction dated Thursday, February 13th. The stock was bought at an average price of $25.65 per share, for a total transaction of $499,072.05. Following the purchase, the director now owns 27,707 shares in the company, valued at $710,684.55. This represents a 235.84 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.06% of the stock is currently owned by corporate insiders.

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.