Columbia Asset Management Sells 28,637 Shares of Pfizer Inc. (NYSE:PFE)

Columbia Asset Management lowered its stake in shares of Pfizer Inc. (NYSE:PFE) by 14.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 163,854 shares of the biopharmaceutical company’s stock after selling 28,637 shares during the period. Columbia Asset Management’s holdings in Pfizer were worth $4,347,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Retirement Wealth Solutions LLC bought a new stake in Pfizer in the 4th quarter valued at $26,000. Rialto Wealth Management LLC purchased a new position in shares of Pfizer during the fourth quarter valued at about $26,000. Kohmann Bosshard Financial Services LLC bought a new stake in shares of Pfizer in the fourth quarter worth about $28,000. Noble Wealth Management PBC purchased a new stake in shares of Pfizer in the fourth quarter worth about $31,000. Finally, Curio Wealth LLC bought a new position in Pfizer during the fourth quarter valued at approximately $32,000. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Pfizer Stock Down 3.2 %

Shares of NYSE:PFE opened at $24.53 on Wednesday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.00 and a quick ratio of 0.73. The business has a 50 day simple moving average of $26.00 and a two-hundred day simple moving average of $26.84. Pfizer Inc. has a 1 year low of $24.48 and a 1 year high of $31.54. The firm has a market capitalization of $139.09 billion, a PE ratio of 17.39, a price-to-earnings-growth ratio of 0.64 and a beta of 0.61.

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 company had revenue of $17.76 billion for the quarter, compared to the consensus estimate of $17.26 billion. During the same quarter in the prior year, the company posted $0.10 EPS. Pfizer’s quarterly revenue was up 24.7% on a year-over-year basis. On average, equities analysts predict that Pfizer Inc. will post 2.95 EPS for the current year.

Insider Buying and Selling

In related news, Director Ronald E. Blaylock acquired 19,457 shares of the stock in a transaction on Thursday, February 13th. The stock was bought at an average cost of $25.65 per share, with a total value of $499,072.05. Following the transaction, the director now directly owns 27,707 shares in the company, valued at approximately $710,684.55. This represents a 235.84 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.06% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on PFE. Guggenheim reaffirmed a “buy” rating on shares of Pfizer in a report on Tuesday, March 18th. Citigroup decreased their price target on shares of Pfizer from $30.00 to $29.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 28th. Bank of America reiterated a “neutral” rating and set a $29.00 price objective on shares of Pfizer in a research report on Tuesday, December 10th. UBS Group reduced their target price on shares of Pfizer from $31.00 to $29.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. Finally, Hsbc Global Res raised shares of Pfizer to a “strong-buy” rating in a report on Monday, March 10th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, six have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $31.92.

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.