Allen Wealth Management LLC Reduces Stake in Pfizer Inc. (NYSE:PFE)

Allen Wealth Management LLC lessened its holdings in shares of Pfizer Inc. (NYSE:PFE) by 11.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 87,236 shares of the biopharmaceutical company’s stock after selling 11,703 shares during the quarter. Pfizer makes up 1.7% of Allen Wealth Management LLC’s portfolio, making the stock its 11th biggest position. Allen Wealth Management LLC’s holdings in Pfizer were worth $2,314,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Arete Wealth Advisors LLC boosted its position in Pfizer by 34.0% during the 4th quarter. Arete Wealth Advisors LLC now owns 86,772 shares of the biopharmaceutical company’s stock valued at $2,299,000 after acquiring an additional 22,013 shares in the last quarter. World Investment Advisors boosted its position in shares of Pfizer by 5.6% during the fourth quarter. World Investment Advisors now owns 134,378 shares of the biopharmaceutical company’s stock valued at $3,565,000 after purchasing an additional 7,113 shares in the last quarter. Westpac Banking Corp grew its stake in Pfizer by 38.4% in the fourth quarter. Westpac Banking Corp now owns 102,671 shares of the biopharmaceutical company’s stock worth $2,724,000 after purchasing an additional 28,473 shares during the period. OneAscent Financial Services LLC raised its holdings in Pfizer by 44.8% in the fourth quarter. OneAscent Financial Services LLC now owns 36,999 shares of the biopharmaceutical company’s stock worth $982,000 after purchasing an additional 11,447 shares in the last quarter. Finally, Cinctive Capital Management LP lifted its position in Pfizer by 7.1% during the fourth quarter. Cinctive Capital Management LP now owns 181,302 shares of the biopharmaceutical company’s stock valued at $4,810,000 after buying an additional 12,060 shares during the period. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Insiders Place Their Bets

In other Pfizer news, Director Ronald E. Blaylock acquired 19,457 shares of the stock in a transaction dated Thursday, February 13th. The shares were purchased at an average price of $25.65 per share, for a total transaction of $499,072.05. Following the purchase, the director now directly owns 27,707 shares of the company’s stock, valued at approximately $710,684.55. This trade represents a 235.84 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PFE. Citigroup decreased their price target on shares of Pfizer from $30.00 to $29.00 and set a “neutral” rating for the company in a research note on Tuesday, January 28th. Truist Financial lowered their target price on shares of Pfizer from $36.00 to $32.00 and set a “buy” rating for the company in a report on Wednesday, December 18th. UBS Group cut their price target on Pfizer from $31.00 to $29.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Bank of America reiterated a “neutral” rating and set a $29.00 price objective on shares of Pfizer in a research note on Tuesday, December 10th. Finally, Hsbc Global Res upgraded Pfizer to a “strong-buy” rating in a report on Monday, March 10th. 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Pfizer presently has an average rating of “Moderate Buy” and an average target price of $31.92.

Pfizer Stock Performance

Shares of PFE stock opened at $24.73 on Thursday. The firm has a market capitalization of $140.26 billion, a PE ratio of 17.54, a P/E/G ratio of 0.64 and a beta of 0.61. The company has a 50 day moving average price of $25.98 and a 200-day moving average price of $26.83. Pfizer Inc. has a 52 week low of $24.31 and a 52 week high of $31.54. 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 earnings results on Tuesday, February 4th. The biopharmaceutical company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.15. The business had revenue of $17.76 billion during 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%. The company’s quarterly revenue was up 24.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.10 EPS. As a group, equities research analysts expect that Pfizer Inc. will post 2.95 earnings per share for the current year.

Pfizer Company 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.