Cibc World Markets Corp Increases Stock Position in Pfizer Inc. (NYSE:PFE)

Cibc World Markets Corp grew its holdings in Pfizer Inc. (NYSE:PFE) by 17.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 902,242 shares of the biopharmaceutical company’s stock after purchasing an additional 133,084 shares during the quarter. Cibc World Markets Corp’s holdings in Pfizer were worth $23,936,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Charles Schwab Investment Management Inc. raised its holdings in shares of Pfizer by 11.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 130,143,942 shares of the biopharmaceutical company’s stock worth $3,766,366,000 after acquiring an additional 12,864,343 shares during the last quarter. Nordea Investment Management AB increased its position in Pfizer by 36.1% during the 4th quarter. Nordea Investment Management AB now owns 4,071,700 shares of the biopharmaceutical company’s stock worth $108,002,000 after purchasing an additional 1,080,822 shares in the last quarter. Parsons Capital Management Inc. RI raised its stake 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 valued at $7,820,000 after purchasing an additional 159,984 shares during the last quarter. Parnassus Investments LLC lifted its holdings in Pfizer by 3.7% in the 3rd quarter. Parnassus Investments LLC now owns 4,390,705 shares of the biopharmaceutical company’s stock valued at $127,067,000 after purchasing an additional 156,894 shares in the last quarter. Finally, TrinityPoint Wealth LLC boosted its stake in shares of Pfizer by 85.5% during the 3rd quarter. TrinityPoint Wealth LLC now owns 191,544 shares of the biopharmaceutical company’s stock worth $5,543,000 after purchasing an additional 88,258 shares during the last quarter. 68.36% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Ronald E. Blaylock purchased 19,457 shares of the firm’s stock in a transaction 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 acquisition, the director now directly 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 Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.06% of the company’s stock.

Pfizer Trading Up 1.3 %

Shares of PFE stock opened at $26.07 on Tuesday. Pfizer Inc. has a fifty-two week low of $24.48 and a fifty-two week high of $31.54. The firm’s 50 day moving average price is $26.22 and its two-hundred day moving average price is $27.10. The stock has a market cap of $147.72 billion, a price-to-earnings ratio of 18.49, a price-to-earnings-growth ratio of 0.64 and a beta of 0.61. 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 (NYSE:PFE) last announced 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 firm had revenue of $17.76 billion during the quarter, compared to analysts’ expectations of $17.26 billion. During the same period in the prior year, the company earned $0.10 EPS. The firm’s revenue was up 24.7% on a year-over-year basis. On average, analysts anticipate that Pfizer Inc. will post 2.95 EPS for the current year.

Analyst Ratings Changes

PFE has been the subject of a number of analyst reports. Hsbc Global Res raised shares of Pfizer to a “strong-buy” rating in a research report on Monday, March 10th. Guggenheim reiterated a “buy” rating on shares of Pfizer in a report on Wednesday, March 12th. Bank of America restated a “neutral” rating and set a $29.00 price objective on shares of Pfizer in a 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 research note on Tuesday, January 28th. Finally, Truist Financial decreased their price target on Pfizer from $36.00 to $32.00 and set a “buy” rating on the stock in a research note on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have issued a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Pfizer has an average 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.