Cornercap Investment Counsel Inc. Invests $1.66 Million in Pfizer Inc. (NYSE:PFE)

Cornercap Investment Counsel Inc. bought a new stake in Pfizer Inc. (NYSE:PFE) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 62,397 shares of the biopharmaceutical company’s stock, valued at approximately $1,655,000. Pfizer makes up approximately 0.5% of Cornercap Investment Counsel Inc.’s investment portfolio, making the stock its 27th biggest position.

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

Wall Street Analyst Weigh In

Several brokerages recently commented on PFE. UBS Group decreased their price target on Pfizer from $31.00 to $29.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Guggenheim reaffirmed a “buy” rating on shares of Pfizer in a report on Tuesday, March 18th. Bank of America reissued a “neutral” rating and set a $29.00 price target on shares of Pfizer in a report on Tuesday, December 10th. Truist Financial decreased their price objective on shares of Pfizer from $36.00 to $32.00 and set a “buy” rating on the stock in a research note on Wednesday, December 18th. Finally, Citigroup cut their target price on shares of Pfizer from $30.00 to $29.00 and set a “neutral” rating for the company in a research note on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have given a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Pfizer presently has an average rating of “Moderate Buy” and an average price target of $31.92.

Pfizer Price Performance

Shares of PFE stock opened at $25.20 on Friday. The company has a quick ratio of 0.73, a current ratio of 1.00 and a debt-to-equity ratio of 0.63. Pfizer Inc. has a 12 month low of $24.48 and a 12 month high of $31.54. The firm has a market cap of $142.93 billion, a price-to-earnings ratio of 17.87, a PEG ratio of 0.64 and a beta of 0.61. The stock has a 50-day moving average price of $26.06 and a 200 day moving average price of $26.94.

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

Insider Transactions at Pfizer

In related news, Director Ronald E. Blaylock bought 19,457 shares of the business’s stock in a transaction on Thursday, February 13th. The shares were purchased at an average price of $25.65 per share, with a total value of $499,072.05. Following the completion of the purchase, the director now owns 27,707 shares of the company’s stock, valued at $710,684.55. This represents a 235.84 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.06% of the stock is owned by corporate insiders.

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.