Meridian Wealth Advisors LLC Trims Stake in Pfizer Inc. (NYSE:PFE)

Meridian Wealth Advisors LLC cut its holdings in shares of Pfizer Inc. (NYSE:PFE) by 2.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 39,516 shares of the biopharmaceutical company’s stock after selling 959 shares during the quarter. Meridian Wealth Advisors LLC’s holdings in Pfizer were worth $1,048,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PFE. Retirement Wealth Solutions LLC acquired a new stake in shares of Pfizer during the fourth quarter valued at about $26,000. Rialto Wealth Management LLC purchased a new stake in Pfizer in the fourth quarter valued at approximately $26,000. Kohmann Bosshard Financial Services LLC purchased a new stake in Pfizer in the fourth quarter valued at approximately $28,000. Noble Wealth Management PBC purchased a new position in shares of Pfizer during the fourth quarter worth $31,000. Finally, Curio Wealth LLC acquired a new position in Pfizer during the 4th quarter worth about $32,000. 68.36% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Pfizer

In other news, Director Ronald E. Blaylock acquired 19,457 shares of Pfizer stock in a transaction on Thursday, February 13th. The stock was bought 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 owns 27,707 shares in the company, valued at $710,684.55. This represents a 235.84 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.06% of the company’s stock.

Pfizer Stock Performance

Shares of Pfizer stock opened at $26.20 on Friday. The company has a quick ratio of 0.73, a current ratio of 1.00 and a debt-to-equity ratio of 0.63. Pfizer Inc. has a 52 week low of $24.48 and a 52 week high of $31.54. The firm’s 50 day moving average is $26.17 and its two-hundred day moving average is $27.04. The firm has a market capitalization of $148.61 billion, a P/E ratio of 18.58, a P/E/G ratio of 0.64 and a beta of 0.61.

Pfizer (NYSE:PFE) last announced 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 firm had revenue of $17.76 billion for the quarter, compared to analyst estimates of $17.26 billion. During the same period last year, the business earned $0.10 EPS. Pfizer’s revenue for the quarter was up 24.7% compared to the same quarter last year. Research analysts forecast that Pfizer Inc. will post 2.95 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

PFE has been the topic of a number of recent research reports. Bank of America reiterated a “neutral” rating and set a $29.00 price target on shares of Pfizer in a research note on Tuesday, December 10th. UBS Group cut their target price on shares of Pfizer from $31.00 to $29.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Citigroup dropped their price target on shares of Pfizer from $30.00 to $29.00 and set a “neutral” rating for the company in a research note on Tuesday, January 28th. Guggenheim reiterated a “buy” rating on shares of Pfizer in a research note on Tuesday, March 18th. Finally, Hsbc Global Res upgraded Pfizer to a “strong-buy” rating in a report on Monday, March 10th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, six have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $31.92.

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.