Covenant Asset Management LLC Sells 2,925 Shares of Pfizer Inc. (NYSE:PFE)

Covenant Asset Management LLC lessened its holdings in shares of Pfizer Inc. (NYSE:PFEFree Report) by 28.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,212 shares of the biopharmaceutical company’s stock after selling 2,925 shares during the quarter. Covenant Asset Management LLC’s holdings in Pfizer were worth $208,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. RB Capital Management LLC increased its stake in Pfizer by 6.7% in the first quarter. RB Capital Management LLC now owns 5,446 shares of the biopharmaceutical company’s stock valued at $282,000 after acquiring an additional 341 shares during the last quarter. Ironwood Wealth Management LLC. increased its position in shares of Pfizer by 1.1% during the 1st quarter. Ironwood Wealth Management LLC. now owns 36,081 shares of the biopharmaceutical company’s stock valued at $1,868,000 after purchasing an additional 400 shares during the last quarter. United Bank raised its holdings in shares of Pfizer by 0.6% during the 1st quarter. United Bank now owns 46,671 shares of the biopharmaceutical company’s stock valued at $2,416,000 after buying an additional 290 shares in the last quarter. Ergoteles LLC boosted its stake in Pfizer by 136.3% in the first quarter. Ergoteles LLC now owns 36,766 shares of the biopharmaceutical company’s stock worth $1,903,000 after buying an additional 21,209 shares in the last quarter. Finally, Mackenzie Financial Corp grew its position in Pfizer by 6.4% during the first quarter. Mackenzie Financial Corp now owns 1,337,418 shares of the biopharmaceutical company’s stock valued at $69,238,000 after acquiring an additional 79,887 shares during the last quarter. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Truist Financial cut their price objective on shares of Pfizer from $42.00 to $36.00 and set a “buy” rating for the company in a research note on Thursday, December 14th. TD Cowen cut Pfizer from an “outperform” rating to a “market perform” rating and set a $32.00 target price for the company. in a report on Thursday, January 4th. Cantor Fitzgerald reissued an “overweight” rating and set a $45.00 price objective on shares of Pfizer in a research note on Friday, March 1st. Barclays decreased their target price on shares of Pfizer from $34.00 to $28.00 and set an “equal weight” rating on the stock in a research note on Thursday, December 14th. Finally, Argus lowered shares of Pfizer from a “buy” rating to a “hold” rating in a report on Friday, March 22nd. Twelve equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Pfizer presently has a consensus rating of “Hold” and an average target price of $36.88.

Read Our Latest Stock Analysis on PFE

Pfizer Stock Down 0.1 %

NYSE:PFE opened at $27.75 on Monday. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.91 and a quick ratio of 0.69. The firm’s 50-day moving average price is $27.44 and its 200-day moving average price is $29.37. The company has a market capitalization of $157.14 billion, a PE ratio of 77.08, a P/E/G ratio of 1.24 and a beta of 0.61. Pfizer Inc. has a 1-year low of $25.61 and a 1-year high of $42.22.

Pfizer (NYSE:PFEGet Free Report) last announced its quarterly earnings data on Tuesday, January 30th. The biopharmaceutical company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.29. Pfizer had a net margin of 3.62% and a return on equity of 10.88%. The business had revenue of $14.25 billion for the quarter, compared to analysts’ expectations of $14.37 billion. During the same quarter in the prior year, the company earned $1.14 earnings per share. The business’s revenue was down 41.3% compared to the same quarter last year. On average, equities analysts predict that Pfizer Inc. will post 2.22 EPS for the current fiscal year.

Pfizer Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Pfizer (NYSE:PFE)

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