Washington Trust Bank Reduces Stock Holdings in Pfizer Inc. (NYSE:PFE)

Washington Trust Bank lowered its holdings in shares of Pfizer Inc. (NYSE:PFE) by 6.0% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 25,553 shares of the biopharmaceutical company’s stock after selling 1,622 shares during the quarter. Washington Trust Bank’s holdings in Pfizer were worth $678,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. PSI Advisors LLC increased its stake in shares of Pfizer by 1.4% during the fourth quarter. PSI Advisors LLC now owns 27,823 shares of the biopharmaceutical company’s stock worth $738,000 after purchasing an additional 385 shares in the last quarter. Waddell & Associates LLC boosted its holdings in Pfizer by 1.6% in the 3rd quarter. Waddell & Associates LLC now owns 24,978 shares of the biopharmaceutical company’s stock worth $723,000 after buying an additional 388 shares during the last quarter. Patriot Financial Group Insurance Agency LLC increased its stake in Pfizer by 1.0% during the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 38,706 shares of the biopharmaceutical company’s stock worth $1,027,000 after buying an additional 391 shares in the last quarter. D Orazio & Associates Inc. raised its holdings in shares of Pfizer by 5.5% during the fourth quarter. D Orazio & Associates Inc. now owns 7,549 shares of the biopharmaceutical company’s stock valued at $200,000 after acquiring an additional 391 shares during the last quarter. Finally, Lipe & Dalton lifted its position in shares of Pfizer by 17.7% in the fourth quarter. Lipe & Dalton now owns 2,659 shares of the biopharmaceutical company’s stock valued at $71,000 after acquiring an additional 400 shares in the last quarter. Institutional investors own 68.36% of the company’s stock.

Pfizer Stock Up 0.1 %

Shares of NYSE:PFE opened at $26.20 on Friday. The business has a 50-day moving average price of $26.17 and a 200 day moving average price of $27.05. Pfizer Inc. has a 12-month low of $24.48 and a 12-month high of $31.54. The company has a current ratio of 1.00, a quick ratio of 0.73 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $148.61 billion, a price-to-earnings ratio of 18.58, a PEG ratio of 0.64 and a beta of 0.61.

Pfizer (NYSE:PFE) last released its quarterly earnings results on Tuesday, February 4th. The biopharmaceutical company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.15. The business had revenue of $17.76 billion for 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 business’s revenue was up 24.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.10 EPS. Sell-side analysts expect that Pfizer Inc. will post 2.95 EPS for the current year.

Insider Transactions at Pfizer

In other news, Director Ronald E. Blaylock bought 19,457 shares of the stock in a transaction that occurred on Thursday, February 13th. The stock was bought at an average cost of $25.65 per share, for a total transaction of $499,072.05. Following the acquisition, the director now directly owns 27,707 shares of the company’s stock, valued at $710,684.55. The trade was a 235.84 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Hsbc Global Res raised Pfizer to a “strong-buy” rating in a research note on Monday, March 10th. Guggenheim reissued a “buy” rating on shares of Pfizer in a research note on Tuesday. Truist Financial dropped their price objective on shares of Pfizer from $36.00 to $32.00 and set a “buy” rating for the company in a research note on Wednesday, December 18th. Citigroup decreased their target price on shares of Pfizer from $30.00 to $29.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 28th. Finally, UBS Group dropped their price target on Pfizer from $31.00 to $29.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. One equities 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. Based on data from MarketBeat, Pfizer presently has a consensus rating of “Moderate Buy” and an average target price of $31.92.

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.