Element Wealth LLC Acquires 2,478 Shares of Pfizer Inc. (NYSE:PFE)

Element Wealth LLC boosted its stake in shares of Pfizer Inc. (NYSE:PFE) by 25.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,168 shares of the biopharmaceutical company’s stock after acquiring an additional 2,478 shares during the quarter. Element Wealth LLC’s holdings in Pfizer were worth $350,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PFE. Charles Schwab Investment Management Inc. raised its position in Pfizer by 10.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 95,772,746 shares of the biopharmaceutical company’s stock worth $3,161,261,000 after purchasing an additional 9,393,992 shares during the period. Invesco Ltd. lifted its stake in shares of Pfizer by 30.9% during the 3rd quarter. Invesco Ltd. now owns 24,054,896 shares of the biopharmaceutical company’s stock worth $797,901,000 after acquiring an additional 5,678,004 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in Pfizer by 9.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 60,207,521 shares of the biopharmaceutical company’s stock valued at $1,997,083,000 after acquiring an additional 5,185,453 shares during the period. Bank of Nova Scotia grew its position in Pfizer by 219.4% in the 3rd quarter. Bank of Nova Scotia now owns 5,503,983 shares of the biopharmaceutical company’s stock valued at $182,567,000 after acquiring an additional 3,780,696 shares during the last quarter. Finally, Canada Pension Plan Investment Board increased its stake in Pfizer by 38.9% in the third quarter. Canada Pension Plan Investment Board now owns 10,028,940 shares of the biopharmaceutical company’s stock worth $332,660,000 after purchasing an additional 2,807,846 shares during the period. 68.36% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on PFE shares. Cantor Fitzgerald restated an “overweight” rating and issued a $45.00 price target on shares of Pfizer in a report on Monday, April 15th. TD Cowen lowered shares of Pfizer from an “outperform” rating to a “market perform” rating and set a $32.00 target price on the stock. in a research report on Thursday, January 4th. Argus lowered Pfizer from a “buy” rating to a “hold” rating in a report on Friday, March 22nd. Finally, Guggenheim began coverage on Pfizer in a report on Friday, February 23rd. They set a “buy” rating and a $36.00 price objective on the stock. Eleven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $36.33.

Pfizer Stock Up 0.2 %

NYSE:PFE traded up $0.06 during midday trading on Tuesday, reaching $26.32. 23,804,460 shares of the stock traded hands, compared to its average volume of 42,104,582. The stock has a market capitalization of $149.04 billion, a PE ratio of 73.11, a price-to-earnings-growth ratio of 1.17 and a beta of 0.61. Pfizer Inc. has a 12-month low of $25.23 and a 12-month high of $40.37. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.69 and a current ratio of 0.91. The business has a 50-day moving average of $27.08 and a two-hundred day moving average of $28.56.

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

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.