Ironwood Investment Management LLC Cuts Stock Holdings in Pfizer Inc. (NYSE:PFE)

Ironwood Investment Management LLC trimmed its position in shares of Pfizer Inc. (NYSE:PFE) by 36.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,770 shares of the biopharmaceutical company’s stock after selling 20,000 shares during the period. Ironwood Investment Management LLC’s holdings in Pfizer were worth $973,000 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. Regal Investment Advisors LLC lifted its position in Pfizer by 7.3% during the second quarter. Regal Investment Advisors LLC now owns 282,398 shares of the biopharmaceutical company’s stock valued at $7,901,000 after purchasing an additional 19,091 shares during the last quarter. Quarry LP bought a new stake in shares of Pfizer in the 2nd quarter worth about $31,000. Wallace Advisory Group LLC purchased a new position in shares of Pfizer during the second quarter valued at approximately $434,000. William B. Walkup & Associates Inc. purchased a new position in Pfizer during the 2nd quarter valued at $1,100,000. Finally, Sunbelt Securities Inc. lifted its position in shares of Pfizer by 9.7% during the second quarter. Sunbelt Securities Inc. now owns 60,258 shares of the biopharmaceutical company’s stock worth $1,686,000 after purchasing an additional 5,350 shares during the last quarter. 68.36% of the stock is currently owned by institutional investors.

Pfizer Price Performance

Shares of Pfizer stock opened at $29.09 on Monday. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.86 and a quick ratio of 0.60. The business has a 50 day simple moving average of $29.31 and a two-hundred day simple moving average of $28.30. The stock has a market capitalization of $164.84 billion, a P/E ratio of -484.83, a PEG ratio of 1.27 and a beta of 0.68. Pfizer Inc. has a 12 month low of $25.20 and a 12 month high of $34.11.

Pfizer (NYSE:PFE) last released its earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.14. The business had revenue of $13.28 billion during 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 for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.67 earnings per share. As a group, analysts predict that Pfizer Inc. will post 2.66 EPS for the current fiscal year.

Analyst Ratings Changes

PFE has been the topic of several recent analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $45.00 price target on shares of Pfizer in a research note on Monday, September 16th. Daiwa America raised shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Wells Fargo & Company upped their price objective 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. UBS Group lifted 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. Finally, Daiwa Capital Markets raised shares of Pfizer from a “neutral” rating to an “outperform” rating and increased their price target for the company from $28.00 to $34.00 in a research report on Wednesday, August 7th. Eight investment 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 company. Based on data from MarketBeat, Pfizer presently has a consensus rating of “Moderate Buy” and a consensus target price of $34.54.

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.