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

Resona Asset Management Co. Ltd. purchased a new position in Pfizer Inc. (NYSE:PFE) during the 4th quarter, HoldingsChannel reports. The firm purchased 1,845,310 shares of the biopharmaceutical company’s stock, valued at approximately $48,977,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of PFE. Retirement Wealth Solutions LLC purchased a new stake in shares of Pfizer during the fourth quarter valued at $26,000. Rialto Wealth Management LLC acquired a new position in Pfizer in the 4th quarter worth approximately $26,000. Kohmann Bosshard Financial Services LLC purchased a new position in Pfizer during the 4th quarter worth approximately $28,000. Noble Wealth Management PBC acquired a new stake in Pfizer during the 4th quarter valued at $31,000. Finally, Curio Wealth LLC purchased a new stake in shares of Pfizer in the fourth quarter valued at $32,000. 68.36% of the stock is owned by institutional investors and hedge funds.

Pfizer Price Performance

Shares of Pfizer stock opened at $22.99 on Friday. The company has a current ratio of 1.00, a quick ratio of 0.73 and a debt-to-equity ratio of 0.63. The firm has a fifty day simple moving average of $25.87 and a 200-day simple moving average of $26.76. The stock has a market capitalization of $130.39 billion, a price-to-earnings ratio of 16.31, a PEG ratio of 0.64 and a beta of 0.61. Pfizer Inc. has a 1-year low of $22.95 and a 1-year high of $31.54.

Pfizer (NYSE:PFE) last released its earnings results on Tuesday, February 4th. The biopharmaceutical company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.15. The firm had revenue of $17.76 billion during the quarter, compared to analyst estimates of $17.26 billion. Pfizer had a net margin of 12.62% and a return on equity of 19.47%. The business’s revenue was up 24.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.10 EPS. On average, sell-side analysts expect that Pfizer Inc. will post 2.95 earnings per share for the current year.

Insider Buying and Selling at Pfizer

In other Pfizer news, Director Ronald E. Blaylock acquired 19,457 shares of Pfizer stock in a transaction dated Thursday, February 13th. The stock was bought at an average cost of $25.65 per share, with a total value of $499,072.05. Following the completion of the transaction, 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 ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PFE. Truist Financial reduced their price objective on Pfizer from $36.00 to $32.00 and set a “buy” rating for the company in a research note on Wednesday, December 18th. Hsbc Global Res upgraded shares of Pfizer to a “strong-buy” rating in a research report on Monday, March 10th. Citigroup reaffirmed a “neutral” rating on shares of Pfizer in a research note on Thursday, March 27th. Bank of America reaffirmed a “neutral” rating and issued a $29.00 target price on shares of Pfizer in a research report on Tuesday, December 10th. Finally, Guggenheim reissued a “buy” rating on shares of Pfizer in a research note on Tuesday, March 18th. 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 given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target 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.