ProVise Management Group LLC Decreases Stock Holdings in Pfizer Inc. (NYSE:PFE)

ProVise Management Group LLC decreased its position in shares of Pfizer Inc. (NYSE:PFE) by 18.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 106,830 shares of the biopharmaceutical company’s stock after selling 23,582 shares during the period. ProVise Management Group LLC’s holdings in Pfizer were worth $2,834,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of PFE. Charles Schwab Investment Management Inc. increased its position in Pfizer by 19.5% during the fourth 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 acquiring an additional 25,315,159 shares during the last quarter. Raymond James Financial Inc. bought a new position in Pfizer during the fourth quarter valued at $274,694,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Pfizer by 22.4% during the third 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 valued at $1,101,713,000 after acquiring an additional 6,977,587 shares during the last quarter. Fisher Asset Management LLC increased its position in Pfizer by 79.5% during the fourth quarter. Fisher Asset Management LLC now owns 11,148,116 shares of the biopharmaceutical company’s stock valued at $295,760,000 after acquiring an additional 4,938,209 shares during the last quarter. Finally, Van ECK Associates Corp increased its position in Pfizer by 28.5% during the fourth quarter. Van ECK Associates Corp now owns 21,286,805 shares of the biopharmaceutical company’s stock valued at $564,739,000 after acquiring an additional 4,726,549 shares during the last quarter. Institutional investors own 68.36% of the company’s stock.

Insider Activity

In other news, Director Ronald E. Blaylock purchased 19,457 shares of the stock in a transaction dated Thursday, February 13th. The shares were acquired at an average cost of $25.65 per share, for a total transaction of $499,072.05. Following the acquisition, the director now owns 27,707 shares of the company’s stock, valued at approximately $710,684.55. This represents a 235.84 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on PFE. Citigroup cut their price target on shares of Pfizer from $30.00 to $29.00 and set a “neutral” rating on the stock in a report on Tuesday, January 28th. Bank of America restated a “neutral” rating and issued a $29.00 price target on shares of Pfizer in a report on Tuesday, December 10th. StockNews.com cut shares of Pfizer from a “strong-buy” rating to a “buy” rating in a report on Wednesday, November 20th. Guggenheim restated a “buy” rating on shares of Pfizer in a report on Tuesday. Finally, Hsbc Global Res upgraded shares of Pfizer to a “strong-buy” rating in a report on Monday, March 10th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have issued a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Pfizer currently has an average rating of “Moderate Buy” and a consensus price target of $31.92.

Pfizer Stock Up 1.0 %

NYSE:PFE opened at $26.31 on Wednesday. The firm has a market cap of $149.09 billion, a PE ratio of 18.66, a price-to-earnings-growth ratio of 0.64 and a beta of 0.61. The company has a 50-day moving average of $26.21 and a 200 day moving average of $27.09. Pfizer Inc. has a 1-year low of $24.48 and a 1-year high of $31.54. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.00 and a quick ratio of 0.73.

Pfizer (NYSE:PFE) last released its quarterly earnings results on Tuesday, February 4th. The biopharmaceutical company reported $0.63 earnings per share 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 period last year, the business earned $0.10 EPS. The company’s revenue was up 24.7% compared to the same quarter last year. As a group, research analysts anticipate that Pfizer Inc. will post 2.95 EPS for the current fiscal year.

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.