SouthState Corp Has $580,000 Stock Position in Pfizer Inc. (NYSE:PFE)

SouthState Corp cut its holdings in shares of Pfizer Inc. (NYSE:PFE) by 29.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 21,880 shares of the biopharmaceutical company’s stock after selling 9,000 shares during the period. SouthState Corp’s holdings in Pfizer were worth $580,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in PFE. State Street Corp raised its stake in shares of Pfizer by 1.2% in the third quarter. State Street Corp now owns 290,460,600 shares of the biopharmaceutical company’s stock worth $8,405,930,000 after purchasing an additional 3,405,539 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in 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 buying an additional 25,315,159 shares during the last quarter. Geode Capital Management LLC lifted its stake in Pfizer by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 117,666,245 shares of the biopharmaceutical company’s stock valued at $3,392,342,000 after acquiring an additional 1,855,419 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Pfizer by 22.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 38,068,879 shares of the biopharmaceutical company’s stock worth $1,101,713,000 after acquiring an additional 6,977,587 shares during the last quarter. Finally, Van ECK Associates Corp grew its stake in shares of Pfizer by 28.5% in the 4th quarter. Van ECK Associates Corp now owns 21,286,805 shares of the biopharmaceutical company’s stock worth $564,739,000 after acquiring an additional 4,726,549 shares in the last quarter. Institutional investors and hedge funds own 68.36% of the company’s stock.

Insider Buying and Selling

In other news, Director Ronald E. Blaylock purchased 19,457 shares of the stock in a transaction dated 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 acquisition, the director now owns 27,707 shares in the company, valued at $710,684.55. This represents a 235.84 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.06% of the stock is currently owned by insiders.

Pfizer Stock Performance

NYSE PFE opened at $26.07 on Tuesday. The firm has a market cap of $147.72 billion, a P/E ratio of 18.49, a price-to-earnings-growth 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. The company’s 50 day moving average is $26.22 and its 200-day moving average is $27.10. Pfizer Inc. has a 12-month low of $24.48 and a 12-month high of $31.54.

Pfizer (NYSE:PFE) last issued its 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. Pfizer had a net margin of 12.62% and a return on equity of 19.47%. The business had revenue of $17.76 billion for the quarter, compared to analysts’ expectations of $17.26 billion. During the same quarter in the previous year, the firm posted $0.10 EPS. The business’s revenue for the quarter was up 24.7% compared to the same quarter last year. Sell-side analysts predict that Pfizer Inc. will post 2.95 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Bank of America restated a “neutral” rating and set a $29.00 price target on shares of Pfizer in a report on Tuesday, December 10th. Citigroup cut their target price on Pfizer from $30.00 to $29.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 28th. Guggenheim reiterated a “buy” rating on shares of Pfizer in a report on Wednesday, March 12th. StockNews.com cut Pfizer from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, November 20th. Finally, UBS Group decreased their target price on Pfizer from $31.00 to $29.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. 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 company’s stock. According to MarketBeat, Pfizer presently has an average rating of “Moderate Buy” and an average price target of $31.92.

Pfizer 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.