Smith Chas P & Associates PA Cpas Cuts Stock Holdings in Pfizer Inc. $PFE

Key Points

• Smith Chas P & Associates PA Cpas reduced its holdings in Pfizer Inc. by 45.9%, selling 20,018 shares and ending with a total of 23,618 shares valued at approximately $572,000.
• Several hedge funds have increased their positions in Pfizer, with companies like Vanguard Group Inc. and Amundi significantly boosting their stakes during the first quarter of the year.
• Analysts have mixed ratings on Pfizer, with a consensus target price of $28.12, and recent upgrades from firms including Bank of America and Morgan Stanley.

Smith Chas P & Associates PA Cpas lessened its holdings in Pfizer Inc. (NYSE:PFE - Free Report) by 45.9% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 23,618 shares of the biopharmaceutical company's stock after selling 20,018 shares during the period. Smith Chas P & Associates PA Cpas' holdings in Pfizer were worth $572,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Pfizer by 0.9% in the first quarter. Vanguard Group Inc. now owns 523,165,127 shares of the biopharmaceutical company's stock worth $13,257,004,000 after buying an additional 4,629,976 shares in the last quarter. Northern Trust Corp boosted its stake in shares of Pfizer by 6.8% in the first quarter. Northern Trust Corp now owns 62,325,957 shares of the biopharmaceutical company's stock worth $1,579,340,000 after buying an additional 3,943,397 shares during the last quarter. Amundi increased its holdings in shares of Pfizer by 43.4% during the 1st quarter. Amundi now owns 52,090,403 shares of the biopharmaceutical company's stock valued at $1,265,277,000 after purchasing an additional 15,758,846 shares in the last quarter. Invesco Ltd. raised its position in shares of Pfizer by 2.8% in the first quarter. Invesco Ltd. now owns 30,296,337 shares of the biopharmaceutical company's stock worth $767,709,000 after acquiring an additional 838,198 shares during the period. Finally, Deutsche Bank AG boosted its position in Pfizer by 7.0% during the first quarter. Deutsche Bank AG now owns 28,239,197 shares of the biopharmaceutical company's stock worth $715,581,000 after purchasing an additional 1,846,436 shares in the last quarter. Hedge funds and other institutional investors own 68.36% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on PFE. Morgan Stanley increased their price objective on shares of Pfizer from $32.00 to $33.00 and gave the company an "equal weight" rating in a report on Wednesday, August 6th. Wall Street Zen cut shares of Pfizer from a "buy" rating to a "hold" rating in a report on Sunday. Bank of America increased their price objective on Pfizer from $27.00 to $28.00 and gave the company a "neutral" rating in a report on Wednesday, August 6th. Finally, Citigroup lifted their price objective on shares of Pfizer from $25.00 to $26.00 and gave the company a "neutral" rating in a research note on Wednesday, August 6th. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $28.12.

Pfizer Stock Performance

Shares of PFE stock opened at $23.75 on Monday. The company has a market cap of $135.03 billion, a P/E ratio of 12.63, a PEG ratio of 0.77 and a beta of 0.55. The business has a 50 day moving average of $24.55 and a two-hundred day moving average of $24.12. Pfizer Inc. has a 52 week low of $20.92 and a 52 week high of $30.43. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.65.

Pfizer (NYSE:PFE - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The biopharmaceutical company reported $0.78 EPS for the quarter, beating analysts' consensus estimates of $0.58 by $0.20. The company had revenue of $14.65 billion for the quarter, compared to analyst estimates of $13.43 billion. Pfizer had a return on equity of 21.42% and a net margin of 16.84%.The company's quarterly revenue was up 10.3% compared to the same quarter last year. During the same period last year, the company earned $0.60 earnings per share. Pfizer has set its FY 2025 guidance at 2.900-3.100 EPS. As a group, analysts anticipate that Pfizer Inc. will post 2.95 EPS 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.

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