Congress Wealth Management LLC DE Trims Stake in Pfizer Inc. (NYSE:PFE)

Congress Wealth Management LLC DE lessened its holdings in shares of Pfizer Inc. (NYSE:PFE) by 24.9% during the 4th quarter, HoldingsChannel reports. The fund owned 338,742 shares of the biopharmaceutical company’s stock after selling 112,434 shares during the quarter. Congress Wealth Management LLC DE’s holdings in Pfizer were worth $8,987,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Perkins Capital Management Inc. raised its stake in shares of Pfizer by 3.7% in the fourth quarter. Perkins Capital Management Inc. now owns 41,584 shares of the biopharmaceutical company’s stock worth $1,103,000 after buying an additional 1,475 shares during the period. Mountain Hill Investment Partners Corp. bought a new stake in Pfizer during the 4th quarter worth approximately $57,000. Crowley Wealth Management Inc. purchased a new position in Pfizer during the fourth quarter valued at approximately $57,000. Vanguard Group Inc. boosted its position in shares of Pfizer by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 518,535,151 shares of the biopharmaceutical company’s stock worth $13,756,738,000 after purchasing an additional 2,285,276 shares during the period. Finally, Paces Ferry Wealth Advisors LLC increased its stake in shares of Pfizer by 15.0% in the fourth quarter. Paces Ferry Wealth Advisors LLC now owns 9,317 shares of the biopharmaceutical company’s stock worth $247,000 after purchasing an additional 1,217 shares in the last quarter. 68.36% of the stock is currently owned by hedge funds and other institutional investors.

Pfizer Stock Performance

Pfizer stock opened at $26.13 on Tuesday. 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 twelve month low of $24.48 and a twelve month high of $31.54. The company’s 50-day moving average price is $26.15 and its 200-day moving average price is $27.02. The company has a market cap of $148.21 billion, a PE ratio of 18.53, a price-to-earnings-growth ratio of 0.64 and a beta of 0.61.

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

Insider Buying and Selling

In other news, Director Ronald E. Blaylock bought 19,457 shares of Pfizer stock in a transaction dated 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 completion of the purchase, the director now owns 27,707 shares in the company, valued at $710,684.55. The trade was 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.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on PFE. Guggenheim reaffirmed a “buy” rating on shares of Pfizer in a report on Tuesday, March 18th. Bank of America reaffirmed a “neutral” rating and issued a $29.00 price objective on shares of Pfizer in a research note on Tuesday, December 10th. Truist Financial decreased their target price on Pfizer from $36.00 to $32.00 and set a “buy” rating on the stock in a research note on Wednesday, December 18th. Hsbc Global Res upgraded Pfizer to a “strong-buy” rating in a research note on Monday, March 10th. Finally, Citigroup reduced their price objective on shares of Pfizer from $30.00 to $29.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, six have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $31.92.

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.