Summit Financial LLC Acquires 46,601 Shares of Pfizer Inc. (NYSE:PFE)

Summit Financial LLC lifted its holdings in Pfizer Inc. (NYSE:PFE) by 147.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 78,145 shares of the biopharmaceutical company’s stock after buying an additional 46,601 shares during the quarter. Summit Financial LLC’s holdings in Pfizer were worth $2,073,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Retirement Wealth Solutions LLC bought a new position in shares of Pfizer in the fourth quarter worth about $26,000. Rialto Wealth Management LLC acquired a new stake in shares of Pfizer in the fourth quarter valued at approximately $26,000. Kohmann Bosshard Financial Services LLC bought a new position in Pfizer in the 4th quarter worth approximately $28,000. Noble Wealth Management PBC acquired a new position in Pfizer during the 4th quarter worth $31,000. Finally, Curio Wealth LLC bought a new position in Pfizer in the 4th quarter valued at $32,000. Institutional investors and hedge funds own 68.36% of the company’s stock.

Insider Buying and Selling

In other news, Director Ronald E. Blaylock purchased 19,457 shares of the business’s stock in a transaction dated Thursday, February 13th. The shares were bought at an average cost of $25.65 per share, for a total transaction of $499,072.05. Following the completion of the acquisition, 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

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

Pfizer Trading Up 0.6 %

NYSE:PFE opened at $25.36 on Tuesday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.00 and a quick ratio of 0.73. The business’s 50-day simple moving average is $26.05 and its 200-day simple moving average is $26.88. Pfizer Inc. has a fifty-two week low of $24.48 and a fifty-two week high of $31.54. The stock has a market capitalization of $143.80 billion, a PE ratio of 17.98, a price-to-earnings-growth 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 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.15. The firm had revenue of $17.76 billion for the quarter, compared to analyst estimates of $17.26 billion. Pfizer had a net margin of 12.62% and a return on equity of 19.47%. The business’s revenue was up 24.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.10 earnings per share. Sell-side analysts expect that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.

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.