Federated Hermes Inc. Sells 781,269 Shares of Pfizer Inc. (NYSE:PFE)

Federated Hermes Inc. decreased its position in Pfizer Inc. (NYSE:PFE) by 5.5% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 13,347,938 shares of the biopharmaceutical company’s stock after selling 781,269 shares during the quarter. Pfizer comprises 1.0% of Federated Hermes Inc.’s holdings, making the stock its 13th largest position. Federated Hermes Inc.’s holdings in Pfizer were worth $384,287,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of PFE. Worth Asset Management LLC bought a new stake in Pfizer in the 1st quarter worth approximately $29,000. Briaud Financial Planning Inc bought a new stake in Pfizer in the 3rd quarter worth approximately $30,000. GoalVest Advisory LLC lifted its position in Pfizer by 304.9% in the 4th quarter. GoalVest Advisory LLC now owns 1,077 shares of the biopharmaceutical company’s stock worth $31,000 after buying an additional 811 shares during the last quarter. Mizuho Securities Co. Ltd. bought a new stake in Pfizer in the 3rd quarter worth approximately $34,000. Finally, VisionPoint Advisory Group LLC lifted its position in Pfizer by 52,350.0% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 1,049 shares of the biopharmaceutical company’s stock worth $35,000 after buying an additional 1,047 shares during the last quarter. Institutional investors own 68.36% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on PFE. Argus lowered Pfizer from a “buy” rating to a “hold” rating in a research note on Friday, March 22nd. Cantor Fitzgerald reissued an “overweight” rating and set a $45.00 price objective on shares of Pfizer in a research note on Monday. TD Cowen lowered Pfizer from an “outperform” rating to a “market perform” rating and set a $32.00 price objective for the company. in a research note on Thursday, January 4th. Finally, Guggenheim began coverage on Pfizer in a research note on Friday, February 23rd. They set a “buy” rating and a $36.00 price objective for the company. Twelve equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Pfizer currently has an average rating of “Hold” and a consensus price target of $36.88.

Pfizer Stock Down 0.3 %

PFE traded down $0.07 during trading on Thursday, reaching $25.35. The stock had a trading volume of 15,528,495 shares, compared to its average volume of 42,191,152. The stock’s 50 day moving average is $27.19 and its two-hundred day moving average is $28.76. The company has a current ratio of 0.91, a quick ratio of 0.69 and a debt-to-equity ratio of 0.69. The company has a market capitalization of $143.55 billion, a price-to-earnings ratio of 70.61, a P/E/G ratio of 1.16 and a beta of 0.61. Pfizer Inc. has a one year low of $25.26 and a one year high of $40.56.

Pfizer (NYSE:PFE) last announced its earnings results on Tuesday, January 30th. The biopharmaceutical company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.19) by $0.29. The business had revenue of $14.25 billion for the quarter, compared to analysts’ expectations of $14.37 billion. Pfizer had a return on equity of 10.88% and a net margin of 3.62%. The business’s revenue for the quarter was down 41.3% on a year-over-year basis. During the same period last year, the firm posted $1.14 earnings per share. As a group, analysts expect that Pfizer Inc. will post 2.24 earnings per share for the current year.

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.