WASHINGTON TRUST Co Decreases Stake in Pfizer Inc. (NYSE:PFE)

WASHINGTON TRUST Co lessened its stake in Pfizer Inc. (NYSE:PFE) by 0.9% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 346,639 shares of the biopharmaceutical company’s stock after selling 3,100 shares during the quarter. WASHINGTON TRUST Co’s holdings in Pfizer were worth $9,980,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in PFE. State Street Corp increased its position in Pfizer by 1.9% during the second quarter. State Street Corp now owns 287,201,692 shares of the biopharmaceutical company’s stock worth $10,534,558,000 after buying an additional 5,374,611 shares during the period. Moneta Group Investment Advisors LLC grew its stake in shares of Pfizer by 89,592.7% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 161,143,638 shares of the biopharmaceutical company’s stock valued at $8,257,000,000 after purchasing an additional 160,963,976 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Pfizer by 10.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 95,772,746 shares of the biopharmaceutical company’s stock valued at $3,161,261,000 after purchasing an additional 9,393,992 shares during the last quarter. Morgan Stanley grew its stake in shares of Pfizer by 0.4% in the 3rd quarter. Morgan Stanley now owns 84,927,802 shares of the biopharmaceutical company’s stock valued at $2,817,055,000 after purchasing an additional 348,628 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Pfizer in the 4th quarter valued at approximately $3,150,472,000. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Pfizer Trading Up 0.7 %

Shares of Pfizer stock traded up $0.20 during trading hours on Wednesday, reaching $27.79. The stock had a trading volume of 18,049,146 shares, compared to its average volume of 43,612,059. The firm has a 50 day simple moving average of $27.48 and a two-hundred day simple moving average of $29.52. The firm has a market capitalization of $157.36 billion, a price-to-earnings ratio of 77.14, a P/E/G ratio of 1.23 and a beta of 0.61. The company has a current ratio of 0.91, a quick ratio of 0.69 and a debt-to-equity ratio of 0.69. Pfizer Inc. has a 1 year low of $25.61 and a 1 year high of $42.22.

Pfizer (NYSE:PFE) last posted its earnings results on Tuesday, January 30th. The biopharmaceutical company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.29. Pfizer had a return on equity of 10.88% and a net margin of 3.62%. The business had revenue of $14.25 billion during the quarter, compared to analyst estimates of $14.37 billion. During the same quarter last year, the firm earned $1.14 earnings per share. The company’s revenue for the quarter was down 41.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Pfizer Inc. will post 2.22 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. Barclays decreased their price target on Pfizer from $34.00 to $28.00 and set an “equal weight” rating on the stock in a research note on Thursday, December 14th. Argus downgraded Pfizer from a “buy” rating to a “hold” rating in a research note on Friday, March 22nd. Cantor Fitzgerald restated an “overweight” rating and issued a $45.00 price target on shares of Pfizer in a research note on Friday, March 1st. Guggenheim assumed coverage on Pfizer in a research note on Friday, February 23rd. They issued a “buy” rating and a $36.00 price target on the stock. Finally, TD Cowen downgraded Pfizer from an “outperform” rating to a “market perform” rating and set a $32.00 price target on the stock. in a research note on Thursday, January 4th. Twelve research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $36.88.

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.