AlTi Global Inc. Sells 12,988 Shares of Pfizer Inc. (NYSE:PFE)

AlTi Global Inc. decreased its holdings in shares of Pfizer Inc. (NYSE:PFE) by 23.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 41,571 shares of the biopharmaceutical company’s stock after selling 12,988 shares during the quarter. AlTi Global Inc.’s holdings in Pfizer were worth $1,163,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Olistico Wealth LLC bought a new stake in Pfizer during the 2nd quarter valued at approximately $25,000. MFA Wealth Advisors LLC bought a new stake in Pfizer during the 2nd quarter valued at approximately $29,000. Creekmur Asset Management LLC acquired a new position in Pfizer in the 4th quarter valued at approximately $32,000. Trivant Custom Portfolio Group LLC raised its holdings in Pfizer by 100.0% in the 1st quarter. Trivant Custom Portfolio Group LLC now owns 1,200 shares of the biopharmaceutical company’s stock valued at $33,000 after acquiring an additional 600 shares in the last quarter. Finally, Financial Connections Group Inc. acquired a new position in Pfizer in the 2nd quarter valued at approximately $34,000. Institutional investors own 68.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on PFE shares. Barclays upped their price target on Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a report on Wednesday, July 31st. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $45.00 price target on shares of Pfizer in a report on Monday, September 16th. UBS Group upped their price target on Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. StockNews.com raised Pfizer from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Finally, Daiwa America raised Pfizer from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Eight equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Pfizer has an average rating of “Moderate Buy” and a consensus target price of $34.54.

Pfizer Trading Down 1.9 %

Shares of PFE opened at $28.94 on Thursday. Pfizer Inc. has a 1 year low of $25.20 and a 1 year high of $34.11. The company has a current ratio of 0.86, a quick ratio of 0.60 and a debt-to-equity ratio of 0.65. The stock has a 50 day simple moving average of $29.36 and a 200-day simple moving average of $28.28. The stock has a market cap of $163.99 billion, a PE ratio of -482.33, a PEG ratio of 1.26 and a beta of 0.68.

Pfizer (NYSE:PFE) last released its quarterly earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.14. The business had revenue of $13.28 billion for the quarter, compared to analyst estimates of $12.96 billion. Pfizer had a positive return on equity of 8.42% and a negative net margin of 4.66%. Pfizer’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.67 EPS. On average, sell-side analysts predict that Pfizer Inc. will post 2.66 EPS for the current fiscal year.

Pfizer Company 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.