SlateStone Wealth LLC Reduces Stock Position in Pfizer Inc. (NYSE:PFE)

SlateStone Wealth LLC cut its holdings in shares of Pfizer Inc. (NYSE:PFE) by 27.1% during the 4th quarter, Holdings Channel.com reports. The firm owned 7,702 shares of the biopharmaceutical company’s stock after selling 2,863 shares during the quarter. SlateStone Wealth LLC’s holdings in Pfizer were worth $222,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Charles Schwab Investment Management Inc. increased its holdings 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 acquiring an additional 9,393,992 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Pfizer by 30.9% in the 3rd quarter. Invesco Ltd. now owns 24,054,896 shares of the biopharmaceutical company’s stock valued at $797,901,000 after acquiring an additional 5,678,004 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Pfizer by 9.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 60,207,521 shares of the biopharmaceutical company’s stock valued at $1,997,083,000 after acquiring an additional 5,185,453 shares during the last quarter. Bank of Nova Scotia increased its holdings in shares of Pfizer by 219.4% in the 3rd quarter. Bank of Nova Scotia now owns 5,503,983 shares of the biopharmaceutical company’s stock valued at $182,567,000 after acquiring an additional 3,780,696 shares during the last quarter. Finally, Canada Pension Plan Investment Board increased its holdings in shares of Pfizer by 38.9% in the 3rd quarter. Canada Pension Plan Investment Board now owns 10,028,940 shares of the biopharmaceutical company’s stock valued at $332,660,000 after acquiring an additional 2,807,846 shares during the last quarter. 68.36% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Argus lowered Pfizer from a “buy” rating to a “hold” rating in a research report on Friday, March 22nd. Cantor Fitzgerald restated an “overweight” rating and set a $45.00 price objective on shares of Pfizer in a research report on Monday, April 15th. TD Cowen lowered Pfizer from an “outperform” rating to a “market perform” rating and set a $32.00 price objective for the company. in a research report on Thursday, January 4th. Finally, Guggenheim assumed coverage on Pfizer in a research report on Friday, February 23rd. They set a “buy” rating and a $36.00 price objective for the company. Eleven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $36.33.

Pfizer Price Performance

Shares of Pfizer stock traded down $0.13 during trading on Wednesday, hitting $26.19. The stock had a trading volume of 5,086,980 shares, compared to its average volume of 41,627,031. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.91 and a quick ratio of 0.69. The firm has a market cap of $148.30 billion, a P/E ratio of 73.11, a PEG ratio of 1.18 and a beta of 0.61. The business has a fifty day moving average of $27.07 and a two-hundred day moving average of $28.52. Pfizer Inc. has a fifty-two week low of $25.23 and a fifty-two week high of $40.37.

Pfizer (NYSE:PFE) last announced its earnings results on Tuesday, January 30th. The biopharmaceutical company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.29. The company had revenue of $14.25 billion for the quarter, compared to analyst estimates of $14.37 billion. Pfizer had a return on equity of 10.88% and a net margin of 3.62%. Pfizer’s revenue for the quarter was down 41.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.14 earnings per share. On average, sell-side analysts expect that Pfizer Inc. will post 2.24 earnings per share 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.