1ST Source Bank Sells 7,704 Shares of Pfizer Inc. (NYSE:PFE)

1ST Source Bank trimmed its holdings in shares of Pfizer Inc. (NYSE:PFE) by 10.1% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 68,935 shares of the biopharmaceutical company’s stock after selling 7,704 shares during the quarter. 1ST Source Bank’s holdings in Pfizer were worth $1,829,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of PFE. Retirement Wealth Solutions LLC bought a new stake in shares of Pfizer during the fourth quarter worth approximately $26,000. Rialto Wealth Management LLC bought a new stake in Pfizer in the fourth quarter valued at approximately $26,000. Kohmann Bosshard Financial Services LLC bought a new stake in Pfizer in the fourth quarter valued at approximately $28,000. Gladius Capital Management LP increased its stake in Pfizer by 102.8% in the third quarter. Gladius Capital Management LP now owns 1,043 shares of the biopharmaceutical company’s stock valued at $30,000 after purchasing an additional 38,015 shares in the last quarter. Finally, Noble Wealth Management PBC bought a new stake in Pfizer in the fourth quarter valued at approximately $31,000. 68.36% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. StockNews.com downgraded shares of Pfizer from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, November 20th. Bank of America reaffirmed a “neutral” rating and issued a $29.00 target price on shares of Pfizer in a research note on Tuesday, December 10th. Hsbc Global Res raised shares of Pfizer to a “strong-buy” rating in a research note on Monday, March 10th. UBS Group lowered their target price on shares of Pfizer from $31.00 to $29.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. Finally, Guggenheim reiterated a “buy” rating on shares of Pfizer in a report on Wednesday, March 12th. One research analyst has rated the stock with a sell rating, eight have given 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 has a consensus rating of “Moderate Buy” and a consensus price target of $31.92.

Pfizer Stock Performance

Shares of PFE opened at $25.74 on Monday. Pfizer Inc. has a 12 month low of $24.48 and a 12 month high of $31.54. The firm has a fifty day simple moving average of $26.24 and a 200 day simple moving average of $27.12. The stock has a market capitalization of $145.85 billion, a price-to-earnings ratio of 18.25, a PEG ratio of 0.64 and a beta of 0.61. The company has a current ratio of 1.00, a quick ratio of 0.73 and a debt-to-equity ratio of 0.63.

Pfizer (NYSE:PFE) last announced its earnings results on Tuesday, February 4th. The biopharmaceutical company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.48 by $0.15. Pfizer had a net margin of 12.62% and a return on equity of 19.47%. The business 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 posted $0.10 earnings per share. The firm’s revenue was up 24.7% on a year-over-year basis. Research analysts forecast that Pfizer Inc. will post 2.95 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Ronald E. Blaylock purchased 19,457 shares of the business’s stock in a transaction on Thursday, February 13th. The stock was purchased 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 directly owns 27,707 shares in the company, valued at $710,684.55. The trade was a 235.84 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.06% of the stock is currently owned by corporate insiders.

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.