Pfizer Inc. (NYSE:PFE) Stake Reduced by Boltwood Capital Management

Boltwood Capital Management decreased its holdings in shares of Pfizer Inc. (NYSE:PFE) by 7.3% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 62,722 shares of the biopharmaceutical company’s stock after selling 4,931 shares during the period. Boltwood Capital Management’s holdings in Pfizer were worth $1,815,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Wellington Management Group LLP boosted its position in shares of Pfizer by 4.9% in the 4th quarter. Wellington Management Group LLP now owns 239,209,768 shares of the biopharmaceutical company’s stock valued at $6,886,849,000 after purchasing an additional 11,099,024 shares during the period. Marshall Wace LLP lifted its stake in Pfizer by 279.3% during the second quarter. Marshall Wace LLP now owns 5,378,173 shares of the biopharmaceutical company’s stock valued at $150,481,000 after buying an additional 8,378,173 shares in the last quarter. Swedbank AB acquired a new position in shares of Pfizer in the first quarter worth about $172,902,000. Pzena Investment Management LLC grew its position in Pfizer by 181.6% during the 1st quarter. Pzena Investment Management LLC now owns 7,670,445 shares of the biopharmaceutical company’s stock worth $212,855,000 after purchasing an additional 4,947,000 shares in the last quarter. Finally, FIL Ltd boosted its position in shares of Pfizer by 97.1% in the fourth quarter. FIL Ltd now owns 7,582,518 shares of the biopharmaceutical company’s stock worth $218,301,000 after buying an additional 3,734,595 shares during the period. Institutional investors and hedge funds own 68.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Daiwa America raised Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. Cantor Fitzgerald restated an “overweight” rating and set a $45.00 price target on shares of Pfizer in a report on Monday, September 16th. Barclays upped their price objective on shares of Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 31st. Daiwa Capital Markets raised shares of Pfizer from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $28.00 to $34.00 in a research note on Wednesday, August 7th. Finally, Wells Fargo & Company upped their price target on shares of Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 31st. Nine investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Pfizer has a consensus rating of “Moderate Buy” and an average target price of $34.54.

Pfizer Stock Performance

Shares of PFE stock opened at $28.61 on Thursday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.60 and a current ratio of 0.86. Pfizer Inc. has a 52 week low of $25.20 and a 52 week high of $34.11. The company’s 50 day moving average price is $29.25 and its two-hundred day moving average price is $28.31. The company has a market capitalization of $162.10 billion, a P/E ratio of -476.67, a price-to-earnings-growth ratio of 1.25 and a beta of 0.68.

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