Sumitomo Life Insurance Co. Sells 3,114 Shares of Pfizer Inc. (NYSE:PFE)

Sumitomo Life Insurance Co. lessened its position in Pfizer Inc. (NYSE:PFE) by 4.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 61,225 shares of the biopharmaceutical company’s stock after selling 3,114 shares during the period. Sumitomo Life Insurance Co.’s holdings in Pfizer were worth $1,763,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Worth Asset Management LLC bought a new stake in shares of Pfizer in the first quarter worth about $29,000. Briaud Financial Planning Inc acquired a new stake in Pfizer during the 3rd quarter worth approximately $30,000. GoalVest Advisory LLC lifted its stake in Pfizer by 304.9% in the fourth quarter. GoalVest Advisory LLC now owns 1,077 shares of the biopharmaceutical company’s stock valued at $31,000 after buying an additional 811 shares in the last quarter. Mizuho Securities Co. Ltd. acquired a new position in shares of Pfizer in the third quarter valued at approximately $34,000. Finally, VisionPoint Advisory Group LLC increased its position in shares of Pfizer by 52,350.0% during the third quarter. VisionPoint Advisory Group LLC now owns 1,049 shares of the biopharmaceutical company’s stock worth $35,000 after acquiring an additional 1,047 shares in the last quarter. 68.36% of the stock is owned by institutional investors.

Pfizer Stock Performance

Shares of PFE stock opened at $25.86 on Monday. The company has a 50-day simple moving average of $27.28 and a 200 day simple moving average of $28.88. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.69 and a current ratio of 0.91. The company has a market capitalization of $146.43 billion, a price-to-earnings ratio of 71.83, a PEG ratio of 1.16 and a beta of 0.61. Pfizer Inc. has a 52 week low of $25.61 and a 52 week high of $41.71.

Pfizer (NYSE:PFE) last released its quarterly earnings results on Tuesday, January 30th. The biopharmaceutical company reported $0.10 earnings per share for the quarter, topping the consensus estimate of ($0.19) by $0.29. Pfizer had a return on equity of 10.88% and a net margin of 3.62%. The business had revenue of $14.25 billion during the quarter, compared to analysts’ expectations of $14.37 billion. During the same period last year, the firm posted $1.14 EPS. The firm’s revenue for the quarter was down 41.3% compared to the same quarter last year. On average, sell-side analysts predict that Pfizer Inc. will post 2.22 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Guggenheim initiated coverage on Pfizer in a research note on Friday, February 23rd. They issued a “buy” rating and a $36.00 price target on the stock. Cantor Fitzgerald restated an “overweight” rating and issued a $45.00 target price on shares of Pfizer in a research note on Monday, April 1st. Argus cut shares of Pfizer from a “buy” rating to a “hold” rating in a research note on Friday, March 22nd. Finally, TD Cowen cut shares of 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. Twelve research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $36.88.

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.