KLP Kapitalforvaltning AS Invests $72.14 Million in Pfizer Inc. (NYSE:PFE)

KLP Kapitalforvaltning AS bought a new stake in Pfizer Inc. (NYSE:PFE) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,719,332 shares of the biopharmaceutical company’s stock, valued at approximately $72,144,000.

A number of other large investors have also recently bought and sold shares of the stock. Nordea Investment Management AB raised its position in shares of Pfizer by 36.1% in the 4th quarter. Nordea Investment Management AB now owns 4,071,700 shares of the biopharmaceutical company’s stock valued at $108,002,000 after acquiring an additional 1,080,822 shares during the period. Parsons Capital Management Inc. RI grew its stake in shares of Pfizer by 118.7% in the fourth quarter. Parsons Capital Management Inc. RI now owns 294,764 shares of the biopharmaceutical company’s stock valued at $7,820,000 after buying an additional 159,984 shares in the last quarter. NFJ Investment Group LLC grew its stake in shares of Pfizer by 12.8% in the third quarter. NFJ Investment Group LLC now owns 384,571 shares of the biopharmaceutical company’s stock valued at $11,129,000 after buying an additional 43,719 shares in the last quarter. Daiwa Securities Group Inc. lifted its holdings in Pfizer by 25.9% during the 3rd quarter. Daiwa Securities Group Inc. now owns 804,522 shares of the biopharmaceutical company’s stock valued at $23,283,000 after purchasing an additional 165,611 shares during the last quarter. Finally, Copley Financial Group Inc. acquired a new stake in Pfizer during the 3rd quarter valued at $577,000. 68.36% of the stock is currently owned by institutional investors.

Pfizer Stock Up 0.1 %

PFE stock opened at $26.20 on Friday. Pfizer Inc. has a 52 week low of $24.48 and a 52 week high of $31.54. The company has a market cap 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. The company has a current ratio of 1.00, a quick ratio of 0.73 and a debt-to-equity ratio of 0.63. The company’s 50-day moving average price is $26.17 and its 200 day moving average price is $27.05.

Pfizer (NYSE:PFE) last issued 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 during the quarter, compared to analyst estimates of $17.26 billion. During the same quarter in the prior year, the business posted $0.10 earnings per share. Pfizer’s revenue for the quarter was up 24.7% compared to the same quarter last year. On average, research analysts expect that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Ronald E. Blaylock bought 19,457 shares of the firm’s stock in a transaction dated Thursday, February 13th. The stock was acquired at an average cost 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 of the company’s stock, valued at $710,684.55. This trade represents a 235.84 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.06% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Hsbc Global Res upgraded Pfizer to a “strong-buy” rating in a research note on Monday, March 10th. Guggenheim restated a “buy” rating on shares of Pfizer in a report on Tuesday. UBS Group lowered their target price on shares of Pfizer from $31.00 to $29.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Citigroup decreased their price objective on shares of Pfizer from $30.00 to $29.00 and set a “neutral” rating for the company in a report on Tuesday, January 28th. Finally, Truist Financial decreased their price objective 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, eight have given a hold rating, six have given a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Pfizer presently has a consensus rating of “Moderate Buy” and a consensus target price of $31.92.

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.