Wellington Management Group LLP Sells 23,736,431 Shares of Pfizer Inc. (NYSE:PFE)

Wellington Management Group LLP cut its stake in shares of Pfizer Inc. (NYSE:PFE) by 14.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 139,990,889 shares of the biopharmaceutical company’s stock after selling 23,736,431 shares during the quarter. Pfizer comprises approximately 0.7% of Wellington Management Group LLP’s portfolio, making the stock its 25th biggest position. Wellington Management Group LLP owned approximately 2.47% of Pfizer worth $3,713,958,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of PFE. Nordea Investment Management AB raised its holdings in Pfizer by 36.1% in the fourth quarter. Nordea Investment Management AB now owns 4,071,700 shares of the biopharmaceutical company’s stock worth $108,002,000 after buying an additional 1,080,822 shares during the last quarter. Parsons Capital Management Inc. RI raised its holdings in Pfizer by 118.7% in the 4th quarter. Parsons Capital Management Inc. RI now owns 294,764 shares of the biopharmaceutical company’s stock worth $7,820,000 after acquiring an additional 159,984 shares during the last quarter. NFJ Investment Group LLC lifted its position in Pfizer by 12.8% in the 3rd quarter. NFJ Investment Group LLC now owns 384,571 shares of the biopharmaceutical company’s stock valued at $11,129,000 after acquiring an additional 43,719 shares in the last quarter. Copley Financial Group Inc. purchased a new stake in Pfizer during the 3rd quarter valued at $577,000. Finally, Zacks Investment Management increased its holdings in shares of Pfizer by 10.9% in the 3rd quarter. Zacks Investment Management now owns 2,389,138 shares of the biopharmaceutical company’s stock worth $69,142,000 after purchasing an additional 235,243 shares in the last quarter. Institutional investors own 68.36% of the company’s stock.

Insider Buying and Selling at Pfizer

In related news, Director Ronald E. Blaylock bought 19,457 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The stock was purchased at an average price of $25.65 per share, for a total transaction of $499,072.05. Following the completion of the transaction, the director now owns 27,707 shares in the company, valued at $710,684.55. The trade was a 235.84 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Truist Financial reduced their price objective on Pfizer from $36.00 to $32.00 and set a “buy” rating for the company in a report on Wednesday, December 18th. UBS Group decreased their price objective on shares of Pfizer from $31.00 to $29.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Bank of America restated a “neutral” rating and issued a $29.00 target price on shares of Pfizer in a report on Tuesday, December 10th. Hsbc Global Res upgraded shares of Pfizer to a “strong-buy” rating in a research note on Monday, March 10th. Finally, Guggenheim reaffirmed a “buy” rating on shares of Pfizer in a report on Tuesday, March 18th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, six have assigned a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $31.92.

Pfizer Stock Up 0.8 %

PFE opened at $25.20 on Monday. The stock has a market cap of $142.93 billion, a price-to-earnings ratio of 17.87, a price-to-earnings-growth ratio of 0.64 and a beta of 0.61. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.73 and a current ratio of 1.00. The firm’s fifty day moving average is $26.06 and its 200 day moving average is $26.90. Pfizer Inc. has a fifty-two week low of $24.48 and a fifty-two week high of $31.54.

Pfizer (NYSE:PFE) last announced its quarterly earnings data on Tuesday, February 4th. The biopharmaceutical company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.48 by $0.15. Pfizer had a return on equity of 19.47% and a net margin of 12.62%. The business had revenue of $17.76 billion for the quarter, compared to the consensus estimate of $17.26 billion. During the same period in the previous year, the business earned $0.10 earnings per share. The business’s revenue was up 24.7% on a year-over-year basis. On average, sell-side analysts forecast that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.

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.