Allstate Corp Takes Position in Pfizer Inc. (NYSE:PFE)

Allstate Corp acquired a new position in shares of Pfizer Inc. (NYSE:PFE) in the 4th quarter, HoldingsChannel reports. The firm acquired 167,976 shares of the biopharmaceutical company’s stock, valued at approximately $4,456,000.

Other institutional investors also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Pfizer during the 4th quarter worth approximately $2,328,986,000. Charles Schwab Investment Management Inc. increased its stake in Pfizer by 19.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 155,459,101 shares of the biopharmaceutical company’s stock worth $4,124,330,000 after acquiring an additional 25,315,159 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Pfizer in the fourth quarter valued at $274,694,000. Fisher Asset Management LLC lifted its stake in shares of Pfizer by 79.5% in the 4th quarter. Fisher Asset Management LLC now owns 11,148,116 shares of the biopharmaceutical company’s stock valued at $295,760,000 after purchasing an additional 4,938,209 shares during the last quarter. Finally, Van ECK Associates Corp grew its holdings in shares of Pfizer by 28.5% during the 4th quarter. Van ECK Associates Corp now owns 21,286,805 shares of the biopharmaceutical company’s stock worth $564,739,000 after purchasing an additional 4,726,549 shares during the period. 68.36% of the stock is owned by hedge funds and other institutional investors.

Pfizer Stock Performance

Shares of PFE opened at $25.20 on Friday. Pfizer Inc. has a 1 year low of $24.48 and a 1 year high of $31.54. The stock has a market capitalization of $142.93 billion, a PE ratio of 17.87, a PEG ratio of 0.64 and a beta of 0.61. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.73 and a current ratio of 1.00. The stock has a 50-day simple moving average of $26.06 and a 200-day simple moving average of $26.94.

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

Wall Street Analyst Weigh In

Several analysts recently issued reports on PFE shares. Hsbc Global Res upgraded shares of Pfizer to a “strong-buy” rating in a report on Monday, March 10th. Truist Financial lowered their price objective on shares of Pfizer from $36.00 to $32.00 and set a “buy” rating for the company in a research report on Wednesday, December 18th. Bank of America reissued a “neutral” rating and issued a $29.00 target price on shares of Pfizer in a research report on Tuesday, December 10th. Citigroup lowered their price target on Pfizer from $30.00 to $29.00 and set a “neutral” rating for the company in a research report on Tuesday, January 28th. Finally, UBS Group cut their price objective on Pfizer from $31.00 to $29.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have issued a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Pfizer currently has an average rating of “Moderate Buy” and a consensus target price of $31.92.

Insider Buying and Selling at Pfizer

In other Pfizer news, Director Ronald E. Blaylock acquired 19,457 shares of the stock in a transaction dated Thursday, February 13th. The stock was acquired at an average cost of $25.65 per share, with a total value of $499,072.05. Following the transaction, the director now owns 27,707 shares in the company, valued at $710,684.55. The trade was a 235.84 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.06% of the stock is owned by insiders.

Pfizer 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.