Patten & Patten Inc. TN Sells 8,188 Shares of Pfizer Inc. (NYSE:PFE)

Patten & Patten Inc. TN lessened its stake in shares of Pfizer Inc. (NYSE:PFE) by 9.2% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 80,994 shares of the biopharmaceutical company’s stock after selling 8,188 shares during the period. Patten & Patten Inc. TN’s holdings in Pfizer were worth $2,149,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Envestnet Portfolio Solutions Inc. increased its stake in Pfizer by 3.6% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 600,366 shares of the biopharmaceutical company’s stock worth $15,928,000 after acquiring an additional 20,991 shares during the last quarter. one8zero8 LLC purchased a new position in shares of Pfizer in the fourth quarter valued at $1,656,000. Van Strum & Towne Inc. increased its position in Pfizer by 5.5% in the fourth quarter. Van Strum & Towne Inc. now owns 69,684 shares of the biopharmaceutical company’s stock worth $1,849,000 after purchasing an additional 3,655 shares during the last quarter. Brandes Investment Partners LP raised its stake in Pfizer by 16.8% during the fourth quarter. Brandes Investment Partners LP now owns 6,708,164 shares of the biopharmaceutical company’s stock valued at $177,968,000 after purchasing an additional 962,837 shares in the last quarter. Finally, Zevin Asset Management LLC lifted its position in Pfizer by 46.0% during the fourth quarter. Zevin Asset Management LLC now owns 16,182 shares of the biopharmaceutical company’s stock valued at $429,000 after purchasing an additional 5,095 shares during the last quarter. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on PFE shares. Hsbc Global Res upgraded shares of Pfizer to a “strong-buy” rating in a research report on Monday, March 10th. Bank of America restated a “neutral” rating and set a $29.00 price objective on shares of Pfizer in a research report on Tuesday, December 10th. Citigroup dropped their target price on Pfizer from $30.00 to $29.00 and set a “neutral” rating for the company in a report on Tuesday, January 28th. Truist Financial decreased their price target on Pfizer from $36.00 to $32.00 and set a “buy” rating on the stock in a report on Wednesday, December 18th. Finally, UBS Group dropped their price objective on shares of Pfizer from $31.00 to $29.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. One 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 stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $31.92.

Insider Activity at Pfizer

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

Pfizer Price Performance

Shares of PFE stock opened at $25.74 on Friday. The company has a market capitalization of $145.85 billion, a P/E ratio of 18.25, a P/E/G ratio of 0.64 and a beta of 0.61. The company’s 50-day simple moving average is $26.24 and its two-hundred day simple moving average is $27.13. Pfizer Inc. has a one year low of $24.48 and a one 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 data on Tuesday, February 4th. The biopharmaceutical company reported $0.63 EPS for the quarter, topping 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 period last year, the business posted $0.10 EPS. Pfizer’s quarterly revenue was up 24.7% on a year-over-year basis. As a group, equities analysts anticipate that Pfizer Inc. will post 2.95 EPS for the current 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.