Zacks Investment Management Buys 46,982 Shares of Pfizer Inc. (NYSE:PFE)

Zacks Investment Management boosted its holdings in Pfizer Inc. (NYSE:PFE - Free Report) by 2.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,436,120 shares of the biopharmaceutical company's stock after acquiring an additional 46,982 shares during the quarter. Zacks Investment Management's holdings in Pfizer were worth $64,630,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Pfizer during the 4th quarter valued at $2,328,986,000. Charles Schwab Investment Management Inc. boosted its position 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 valued at $4,124,330,000 after purchasing an additional 25,315,159 shares during the period. Raymond James Financial Inc. purchased a new position in Pfizer in the 4th quarter worth about $274,694,000. Massachusetts Financial Services Co. MA raised its holdings 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 buying an additional 5,350,381 shares during the period. Finally, APG Asset Management N.V. lifted its stake in Pfizer by 1,106.0% during the fourth quarter. APG Asset Management N.V. now owns 5,619,213 shares of the biopharmaceutical company's stock valued at $143,967,000 after buying an additional 5,153,257 shares in the last quarter. 68.36% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Citigroup restated a "neutral" rating on shares of Pfizer in a report on Thursday, March 27th. Guggenheim reissued a "buy" rating on shares of Pfizer in a research report on Tuesday, March 18th. Hsbc Global Res upgraded Pfizer to a "strong-buy" rating in a research report on Monday, March 10th. UBS Group dropped their target price on Pfizer from $28.00 to $24.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. Finally, The Goldman Sachs Group restated a "neutral" rating and set a $25.00 price target (down from $32.00) on shares of Pfizer in a report on Tuesday, April 8th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $31.07.

Insiders Place Their Bets

In related news, Director Ronald E. Blaylock acquired 19,457 shares of the stock in a transaction dated Thursday, February 13th. The shares were acquired at an average price of $25.65 per share, for a total transaction of $499,072.05. Following the completion of the purchase, the director now owns 27,707 shares in the company, valued at approximately $710,684.55. The trade was a 235.84 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.06% of the company's stock.

Pfizer Stock Performance

Shares of NYSE:PFE traded up $0.09 during trading on Friday, reaching $22.13. The stock had a trading volume of 53,854,504 shares, compared to its average volume of 40,486,092. The company has a quick ratio of 0.73, a current ratio of 1.00 and a debt-to-equity ratio of 0.63. The stock has a fifty day simple moving average of $24.88 and a two-hundred day simple moving average of $26.17. The firm has a market capitalization of $125.50 billion, a price-to-earnings ratio of 15.69, a P/E/G ratio of 0.64 and a beta of 0.67. Pfizer Inc. has a 52 week low of $20.92 and a 52 week high of $31.54.

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. The company 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 business's quarterly revenue was up 24.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.10 earnings per share. As a group, analysts anticipate that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.

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.