Pfizer Inc. (NYSE:PFE) Shares Bought by Prudential Financial Inc.

Prudential Financial Inc. lifted its stake in shares of Pfizer Inc. (NYSE:PFE) by 67.5% during the fourth quarter, HoldingsChannel.com reports. The firm owned 6,927,537 shares of the biopharmaceutical company’s stock after purchasing an additional 2,792,786 shares during the period. Prudential Financial Inc.’s holdings in Pfizer were worth $183,788,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Nordea Investment Management AB grew its stake in Pfizer by 36.1% during the fourth quarter. Nordea Investment Management AB now owns 4,071,700 shares of the biopharmaceutical company’s stock worth $108,002,000 after buying an additional 1,080,822 shares during the period. Parsons Capital Management Inc. RI raised its position in shares of Pfizer by 118.7% during the 4th quarter. Parsons Capital Management Inc. RI now owns 294,764 shares of the biopharmaceutical company’s stock worth $7,820,000 after purchasing an additional 159,984 shares during the period. NFJ Investment Group LLC boosted its position in Pfizer by 12.8% during the 3rd quarter. NFJ Investment Group LLC now owns 384,571 shares of the biopharmaceutical company’s stock valued at $11,129,000 after purchasing an additional 43,719 shares during the period. Daiwa Securities Group Inc. increased its position in Pfizer by 25.9% in the third quarter. Daiwa Securities Group Inc. now owns 804,522 shares of the biopharmaceutical company’s stock worth $23,283,000 after buying an additional 165,611 shares during the period. Finally, Copley Financial Group Inc. bought a new position in shares of Pfizer during the third quarter worth about $577,000. 68.36% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. UBS Group lowered their price target on Pfizer from $31.00 to $29.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. Guggenheim reaffirmed a “buy” rating on shares of Pfizer in a research note on Tuesday, March 18th. Citigroup dropped their price target on shares of Pfizer from $30.00 to $29.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 28th. Bank of America reiterated a “neutral” rating and issued a $29.00 target price on shares of Pfizer in a report on Tuesday, December 10th. Finally, Hsbc Global Res upgraded Pfizer to a “strong-buy” rating in a research report on Monday, March 10th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, six have issued a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $31.92.

Insider Activity

In other Pfizer news, Director Ronald E. Blaylock purchased 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 completion of the purchase, the director now owns 27,707 shares of the company’s stock, valued at $710,684.55. The trade was a 235.84 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.06% of the company’s stock.

Pfizer Trading Up 0.1 %

Shares of NYSE:PFE opened at $26.20 on Monday. Pfizer Inc. has a 1 year low of $24.48 and a 1 year high of $31.54. The company has a market capitalization of $148.61 billion, a P/E ratio of 18.58, a P/E/G ratio of 0.64 and a beta of 0.61. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.00 and a quick ratio of 0.73. The business’s 50 day simple moving average is $26.17 and its 200 day simple moving average is $27.04.

Pfizer (NYSE:PFE) last announced its earnings results on Tuesday, February 4th. The biopharmaceutical company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.48 by $0.15. The business had revenue of $17.76 billion for the quarter, compared to analysts’ expectations of $17.26 billion. Pfizer had a return on equity of 19.47% and a net margin of 12.62%. The firm’s revenue was up 24.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.10 earnings per share. On average, research analysts anticipate that Pfizer Inc. will post 2.95 EPS 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.