Corebridge Financial Inc. Trims Position in Pfizer Inc. (NYSE:PFE)

Corebridge Financial Inc. trimmed its stake in Pfizer Inc. (NYSE:PFE) by 4.6% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 1,302,451 shares of the biopharmaceutical company’s stock after selling 62,333 shares during the period. Corebridge Financial Inc.’s holdings in Pfizer were worth $34,554,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in PFE. Retirement Wealth Solutions LLC purchased a new stake in shares of Pfizer in the fourth quarter valued at approximately $26,000. Rialto Wealth Management LLC bought a new stake in Pfizer during the 4th quarter valued at $26,000. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Pfizer in the 4th quarter worth $28,000. Noble Wealth Management PBC bought a new position in shares of Pfizer during the 4th quarter worth $31,000. Finally, Curio Wealth LLC purchased a new position in shares of Pfizer during the fourth quarter valued at $32,000. 68.36% of the stock is currently owned by institutional investors.

Pfizer Price Performance

Shares of NYSE PFE opened at $26.20 on Monday. Pfizer Inc. has a fifty-two week low of $24.48 and a fifty-two week high of $31.54. The company has a market cap 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 debt-to-equity ratio of 0.63, a quick ratio of 0.73 and a current ratio of 1.00. The business has a 50-day simple moving average of $26.17 and a two-hundred day simple moving average of $27.04.

Pfizer (NYSE:PFE) last released its earnings results on Tuesday, February 4th. The biopharmaceutical company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.15. The company 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%. Pfizer’s revenue was up 24.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.10 EPS. As a group, equities analysts expect that Pfizer Inc. will post 2.95 EPS for the current fiscal year.

Insider Activity at Pfizer

In other news, Director Ronald E. Blaylock purchased 19,457 shares of the company’s stock in a transaction on Thursday, February 13th. The shares were acquired at an average price of $25.65 per share, for a total transaction of $499,072.05. Following the purchase, the director now owns 27,707 shares in the company, valued at $710,684.55. This trade represents 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 owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Truist Financial lowered 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. Bank of America reaffirmed a “neutral” rating and issued a $29.00 price target on shares of Pfizer in a research report on Tuesday, December 10th. Citigroup cut their price objective on shares of Pfizer from $30.00 to $29.00 and set a “neutral” rating on the stock in a report on Tuesday, January 28th. UBS Group lowered their target price on Pfizer from $31.00 to $29.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Finally, Guggenheim reiterated a “buy” rating on shares of Pfizer in a report on Tuesday, March 18th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus 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.