Summit Financial LLC Buys 46,601 Shares of Pfizer Inc. (NYSE:PFE)

Summit Financial LLC raised its stake in Pfizer Inc. (NYSE:PFE - Free Report) by 147.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 78,145 shares of the biopharmaceutical company's stock after buying an additional 46,601 shares during the quarter. Summit Financial LLC's holdings in Pfizer were worth $2,073,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Bedell Frazier Investment Counselling LLC bought a new position in shares of Pfizer during the fourth quarter worth $618,000. C M Bidwell & Associates Ltd. lifted its holdings in Pfizer by 27.1% during the fourth quarter. C M Bidwell & Associates Ltd. now owns 13,620 shares of the biopharmaceutical company's stock worth $361,000 after acquiring an additional 2,900 shares in the last quarter. Skba Capital Management LLC grew its stake in Pfizer by 5.0% in the fourth quarter. Skba Capital Management LLC now owns 450,250 shares of the biopharmaceutical company's stock valued at $11,945,000 after acquiring an additional 21,400 shares during the period. Partners in Financial Planning bought a new stake in shares of Pfizer in the fourth quarter worth about $234,000. Finally, Everstar Asset Management LLC lifted its holdings in shares of Pfizer by 2.9% during the 4th quarter. Everstar Asset Management LLC now owns 20,793 shares of the biopharmaceutical company's stock valued at $552,000 after purchasing an additional 594 shares in the last quarter. Institutional investors own 68.36% of the company's stock.

Pfizer Stock Performance

Shares of PFE stock traded down $0.34 during trading on Thursday, reaching $24.37. 34,102,369 shares of the company's stock were exchanged, compared to its average volume of 39,232,421. The firm's fifty day moving average price is $25.98 and its 200-day moving average price is $26.83. Pfizer Inc. has a twelve month low of $24.31 and a twelve month high of $31.54. The stock has a market capitalization of $138.19 billion, a PE ratio of 17.30, a PEG ratio of 0.64 and a beta of 0.61. The company has a quick ratio of 0.73, a current ratio of 1.00 and a debt-to-equity ratio of 0.63.

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Pfizer (NYSE:PFE - Get Free Report) last posted 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 net margin of 12.62% and a return on equity of 19.47%. The company had revenue of $17.76 billion during the quarter, compared to analysts' expectations of $17.26 billion. During the same quarter last year, the company posted $0.10 EPS. Pfizer's quarterly revenue was up 24.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Pfizer Inc. will post 2.95 EPS for the current year.

Insider Transactions at Pfizer

In other news, Director Ronald E. Blaylock acquired 19,457 shares of the firm's stock in a transaction on Thursday, February 13th. The shares were purchased 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 in the company, valued at $710,684.55. This represents a 235.84 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. 0.06% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms recently issued reports on PFE. UBS Group lowered their target price 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 restated a "buy" rating on shares of Pfizer in a report on Tuesday, March 18th. Citigroup reaffirmed a "neutral" rating on shares of Pfizer in a research note on Thursday, March 27th. Truist Financial dropped their price target on Pfizer from $36.00 to $32.00 and set a "buy" rating on the stock in a research note on Wednesday, December 18th. Finally, Bank of America reaffirmed a "neutral" rating and set a $29.00 price objective on shares of Pfizer in a research report on Tuesday, December 10th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have assigned a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $31.92.

About Pfizer

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.