Forum Financial Management LP Acquires 35,001 Shares of Pfizer Inc. (NYSE:PFE)

Forum Financial Management LP boosted its stake in shares of Pfizer Inc. (NYSE:PFE) by 56.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 96,645 shares of the biopharmaceutical company’s stock after buying an additional 35,001 shares during the period. Forum Financial Management LP’s holdings in Pfizer were worth $2,564,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of PFE. Norges Bank bought a new stake in shares of Pfizer in the fourth quarter worth approximately $2,328,986,000. Charles Schwab Investment Management Inc. grew its position in Pfizer by 19.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 155,459,101 shares of the biopharmaceutical company’s stock worth $4,124,330,000 after purchasing an additional 25,315,159 shares during the period. Raymond James Financial Inc. bought a new position in shares of Pfizer during the 4th quarter valued at $274,694,000. Massachusetts Financial Services Co. MA grew its holdings in shares of Pfizer by 7.5% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 76,502,238 shares of the biopharmaceutical company’s stock worth $2,029,604,000 after acquiring an additional 5,350,381 shares during the period. Finally, APG Asset Management N.V. lifted its holdings in Pfizer by 1,106.0% in the fourth quarter. APG Asset Management N.V. now owns 5,619,213 shares of the biopharmaceutical company’s stock valued at $143,967,000 after acquiring an additional 5,153,257 shares during the period. Institutional investors own 68.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on PFE. Hsbc Global Res upgraded shares of Pfizer to a “strong-buy” rating in a research note on Monday, March 10th. UBS Group cut their price objective on shares of Pfizer from $28.00 to $24.00 and set a “neutral” rating for the company in a research report on Tuesday, April 8th. The Goldman Sachs Group restated a “neutral” rating and issued a $25.00 price target (down previously from $32.00) on shares of Pfizer in a research report on Tuesday, April 8th. Citigroup reissued a “neutral” rating on shares of Pfizer in a report on Thursday, March 27th. Finally, Guggenheim reiterated a “buy” rating on shares of Pfizer in a research report on Tuesday, March 18th. One analyst has rated the stock with a sell rating, eight have assigned 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.com, Pfizer presently has an average rating of “Moderate Buy” and a consensus target price of $31.07.

Pfizer Stock Up 0.4 %

Shares of NYSE PFE opened at $22.13 on Friday. The firm’s 50-day moving average price is $24.88 and its 200-day moving average price is $26.19. The company has a current ratio of 1.00, a quick ratio of 0.73 and a debt-to-equity ratio of 0.63. Pfizer Inc. has a 12-month low of $20.92 and a 12-month high of $31.54. The stock has a market capitalization of $125.50 billion, a price-to-earnings ratio of 15.69, a P/E/G ratio of 0.64 and a beta of 0.67.

Pfizer (NYSE:PFE) last released its earnings results on Tuesday, February 4th. The biopharmaceutical company reported $0.63 earnings per share for the quarter, beating 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 firm had revenue of $17.76 billion for the quarter, compared to the consensus estimate of $17.26 billion. During the same quarter in the previous year, the company posted $0.10 EPS. The company’s revenue for the quarter was up 24.7% compared to the same quarter last year. On average, equities research analysts anticipate that Pfizer Inc. will post 2.95 EPS for the current fiscal year.

Insider Transactions at Pfizer

In other Pfizer news, Director Ronald E. Blaylock bought 19,457 shares of Pfizer stock in a transaction on Thursday, February 13th. The shares were acquired at an average price of $25.65 per share, for a total transaction of $499,072.05. Following the completion of the purchase, the director now directly owns 27,707 shares in the company, valued at approximately $710,684.55. This trade represents a 235.84 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.06% of the company’s stock.

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.