Federated Hermes Inc. Reduces Position in Pfizer Inc. (NYSE:PFE)

Federated Hermes Inc. lowered its stake in Pfizer Inc. (NYSE:PFE) by 4.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,391,622 shares of the biopharmaceutical company’s stock after selling 601,995 shares during the period. Pfizer accounts for 0.8% of Federated Hermes Inc.’s holdings, making the stock its 15th biggest position. Federated Hermes Inc.’s holdings in Pfizer were worth $381,810,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Retirement Wealth Solutions LLC purchased a new position in Pfizer in the 4th quarter worth $26,000. Rialto Wealth Management LLC purchased a new position in shares of Pfizer in the fourth quarter worth about $26,000. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Pfizer during the fourth quarter worth about $28,000. Noble Wealth Management PBC acquired a new position in Pfizer in the 4th quarter worth approximately $31,000. Finally, Curio Wealth LLC purchased a new position in Pfizer during the 4th quarter worth approximately $32,000. 68.36% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Pfizer news, Director Ronald E. Blaylock purchased 19,457 shares of the stock in a transaction that occurred on Thursday, February 13th. The shares were purchased at an average cost of $25.65 per share, for a total transaction of $499,072.05. Following the completion of the transaction, the director now 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 acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. 0.06% of the stock is owned by company insiders.

Pfizer Stock Performance

PFE opened at $22.99 on Friday. The company has a market cap of $130.39 billion, a price-to-earnings ratio of 16.31, a PEG ratio of 0.64 and a beta of 0.67. The firm’s fifty day simple moving average is $25.87 and its two-hundred day simple moving average is $26.74. 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 Inc. has a 52-week low of $22.95 and a 52-week high of $31.54.

Pfizer (NYSE:PFE) last posted its quarterly earnings data on Tuesday, February 4th. The biopharmaceutical company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.15. Pfizer had a return on equity of 19.47% and a net margin of 12.62%. The company had revenue of $17.76 billion for the quarter, compared to analysts’ expectations of $17.26 billion. During the same period in the previous year, the firm posted $0.10 EPS. Pfizer’s revenue was up 24.7% compared to the same quarter last year. Equities analysts anticipate that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on PFE. Citigroup reaffirmed a “neutral” rating on shares of Pfizer in a report on Thursday, March 27th. Truist Financial reduced their price objective on Pfizer from $36.00 to $32.00 and set a “buy” rating for the company in a research note on Wednesday, December 18th. Hsbc Global Res upgraded Pfizer to a “strong-buy” rating in a research note on Monday, March 10th. Guggenheim reiterated a “buy” rating on shares of Pfizer in a research report on Tuesday, March 18th. Finally, Bank of America restated a “neutral” rating and issued a $29.00 price objective on shares of Pfizer in a research report on Tuesday, December 10th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, six have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $31.92.

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.