Clearbridge Investments LLC Reduces Stock Holdings in Pfizer Inc. (NYSE:PFE)

by · The Markets Daily

Clearbridge Investments LLC cut its holdings in Pfizer Inc. (NYSE:PFE – Free Report) by 35.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 131,144 shares of the biopharmaceutical company’s stock after selling 71,176 shares during the period. Clearbridge Investments LLC’s holdings in Pfizer were worth $3,456,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Bcwm LLC purchased a new stake in shares of Pfizer in the fourth quarter valued at about $4,264,000. United Bank grew its holdings in Pfizer by 27.3% during the 4th quarter. United Bank now owns 45,331 shares of the biopharmaceutical company’s stock valued at $1,203,000 after buying an additional 9,732 shares during the last quarter. Life Planning Partners Inc acquired a new stake in Pfizer during the 4th quarter valued at $893,000. Summit Securities Group LLC raised its holdings in shares of Pfizer by 38.4% in the fourth quarter. Summit Securities Group LLC now owns 23,800 shares of the biopharmaceutical company’s stock worth $631,000 after acquiring an additional 6,600 shares during the last quarter. Finally, Schroder Investment Management Group lifted its position in shares of Pfizer by 13.6% in the fourth quarter. Schroder Investment Management Group now owns 9,973,310 shares of the biopharmaceutical company’s stock valued at $264,592,000 after acquiring an additional 1,193,722 shares in the last quarter. 68.36% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Ronald E. Blaylock purchased 19,457 shares of the stock in a transaction that occurred on Thursday, February 13th. The stock was purchased at an average cost of $25.65 per share, for a total transaction of $499,072.05. Following the acquisition, the director now owns 27,707 shares in the company, valued at approximately $710,684.55. This trade represents a 235.84 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.06% of the company’s stock.

Pfizer Stock Performance

Shares of NYSE:PFE opened at $24.30 on Friday. The business has a 50-day moving average of $25.93 and a two-hundred day moving average of $26.81. The firm has a market capitalization of $137.79 billion, a PE ratio of 17.23, a P/E/G ratio of 0.64 and a beta of 0.61. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.00 and a quick ratio of 0.73. Pfizer Inc. has a 12 month low of $24.28 and a 12 month high of $31.54.

Pfizer (NYSE:PFE – Get Free Report) last posted its earnings results on Tuesday, February 4th. The biopharmaceutical company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.15. The firm had revenue of $17.76 billion during the quarter, compared to the consensus estimate of $17.26 billion. Pfizer had a net margin of 12.62% and a return on equity of 19.47%. The company’s revenue was up 24.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.10 EPS. As a group, research analysts forecast that Pfizer Inc. will post 2.95 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts recently commented on PFE shares. Guggenheim reiterated a “buy” rating on shares of Pfizer in a research report on Tuesday, March 18th. Bank of America reissued a “neutral” rating and issued a $29.00 price objective on shares of Pfizer in a research report on Tuesday, December 10th. Citigroup restated a “neutral” rating on shares of Pfizer in a research report on Thursday, March 27th. Hsbc Global Res upgraded Pfizer to a “strong-buy” rating in a report on Monday, March 10th. Finally, Truist Financial lowered their price objective on Pfizer from $36.00 to $32.00 and set a “buy” rating for the company in a research report on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $31.92.

View Our Latest Report on Pfizer

Pfizer Company Profile

(Free Report)

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.

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