Providence Capital Advisors LLC Buys 409 Shares of Pfizer Inc. (NYSE:PFE)

Providence Capital Advisors LLC grew its stake in Pfizer Inc. (NYSE:PFE) by 0.4% during the fourth quarter, Holdings Channel.com reports. The fund owned 114,358 shares of the biopharmaceutical company’s stock after purchasing an additional 409 shares during the quarter. Providence Capital Advisors LLC’s holdings in Pfizer were worth $3,034,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank bought a new stake in Pfizer during the 4th quarter valued at $2,328,986,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Pfizer by 19.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 155,459,101 shares of the biopharmaceutical company’s stock valued at $4,124,330,000 after acquiring an additional 25,315,159 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Pfizer in the fourth quarter worth about $274,694,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Pfizer by 22.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 38,068,879 shares of the biopharmaceutical company’s stock worth $1,101,713,000 after acquiring an additional 6,977,587 shares in the last quarter. Finally, Fisher Asset Management LLC increased its position in Pfizer by 79.5% during the 4th quarter. Fisher Asset Management LLC now owns 11,148,116 shares of the biopharmaceutical company’s stock valued at $295,760,000 after purchasing an additional 4,938,209 shares during the period. Institutional investors own 68.36% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on PFE. Guggenheim reaffirmed a “buy” rating on shares of Pfizer in a research report on Tuesday, March 18th. Truist Financial lowered their target price on Pfizer from $36.00 to $32.00 and set a “buy” rating for the company in a report on Wednesday, December 18th. Bank of America reissued a “neutral” rating and issued a $29.00 price target on shares of Pfizer in a research report on Tuesday, December 10th. UBS Group dropped their price objective on Pfizer from $31.00 to $29.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Finally, Hsbc Global Res upgraded shares of Pfizer to a “strong-buy” rating in a report on Monday, March 10th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have given a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $31.92.

Insider Activity

In related news, Director Ronald E. Blaylock acquired 19,457 shares of Pfizer stock in a transaction dated Thursday, February 13th. The shares were acquired at an average cost of $25.65 per share, for a total transaction of $499,072.05. Following the completion of the purchase, the director now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.06% of the company’s stock.

Pfizer Stock Performance

NYSE PFE opened at $25.05 on Friday. 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 stock has a 50-day moving average of $26.09 and a 200 day moving average of $26.97. The stock has a market capitalization of $142.08 billion, a price-to-earnings ratio of 17.77, a PEG ratio of 0.64 and a beta of 0.61. Pfizer Inc. has a twelve month low of $24.48 and a twelve month high of $31.54.

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 analysts’ consensus estimates of $0.48 by $0.15. Pfizer had a net margin of 12.62% and a return on equity of 19.47%. The business had revenue of $17.76 billion for the quarter, compared to analyst estimates of $17.26 billion. During the same period last year, the company posted $0.10 EPS. The business’s revenue was up 24.7% on a year-over-year basis. Sell-side analysts anticipate that Pfizer Inc. will post 2.95 EPS for the current fiscal year.

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.