KLP Kapitalforvaltning AS Makes New $72.14 Million Investment in Pfizer Inc. (NYSE:PFE)

KLP Kapitalforvaltning AS acquired a new stake in Pfizer Inc. (NYSE:PFE) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 2,719,332 shares of the biopharmaceutical company’s stock, valued at approximately $72,144,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Retirement Wealth Solutions LLC bought a new position in Pfizer during the fourth quarter worth $26,000. Rialto Wealth Management LLC acquired a new position in Pfizer in the fourth quarter valued at about $26,000. Kohmann Bosshard Financial Services LLC acquired a new position in Pfizer during the fourth quarter worth about $28,000. Noble Wealth Management PBC acquired a new position in Pfizer during the fourth quarter worth about $31,000. Finally, Curio Wealth LLC acquired a new position in Pfizer during the fourth quarter worth about $32,000. 68.36% of the stock is currently owned by institutional investors and hedge funds.

Pfizer Stock Performance

Shares of PFE stock opened at $26.20 on Friday. Pfizer Inc. has a 52 week low of $24.48 and a 52 week high of $31.54. The firm has a 50 day moving average of $26.17 and a two-hundred day moving average of $27.05. The stock has a market capitalization of $148.61 billion, a PE ratio of 18.58, a P/E/G ratio of 0.64 and a beta of 0.61. 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 (NYSE:PFE) last announced its quarterly earnings results on Tuesday, February 4th. The biopharmaceutical company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.48 by $0.15. The firm had revenue of $17.76 billion for the quarter, compared to analyst estimates of $17.26 billion. Pfizer had a net margin of 12.62% and a return on equity of 19.47%. Pfizer’s revenue for the quarter was up 24.7% compared to the same quarter last year. During the same period last year, the business earned $0.10 EPS. On average, research analysts predict that Pfizer Inc. will post 2.95 EPS for the current fiscal year.

Wall Street Analyst Weigh In

PFE has been the topic of a number of research analyst reports. Citigroup cut their price target on Pfizer from $30.00 to $29.00 and set a “neutral” rating on the stock in a report on Tuesday, January 28th. Guggenheim reaffirmed a “buy” rating on shares of Pfizer in a research report on Tuesday. Bank of America reiterated a “neutral” rating and set a $29.00 price target on shares of Pfizer in a research note on Tuesday, December 10th. Hsbc Global Res upgraded Pfizer to a “strong-buy” rating in a research note on Monday, March 10th. Finally, UBS Group lowered their price target on Pfizer from $31.00 to $29.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $31.92.

Insider Buying and Selling

In other news, Director Ronald E. Blaylock acquired 19,457 shares of the company’s stock in a transaction that occurred on 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 acquisition, the director now directly owns 27,707 shares in the company, valued at approximately $710,684.55. The trade was a 235.84 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.06% of the stock is currently owned by company insiders.

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.