Washington Trust Bank Cuts Stock Holdings in Pfizer Inc. (NYSE:PFE)

Washington Trust Bank cut its stake in Pfizer Inc. (NYSE:PFE) by 6.0% in the fourth quarter, HoldingsChannel reports. The firm owned 25,553 shares of the biopharmaceutical company’s stock after selling 1,622 shares during the quarter. Washington Trust Bank’s holdings in Pfizer were worth $678,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

PFE has been the subject of a number of analyst reports. Citigroup lowered their target price 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. UBS Group lowered their price objective on Pfizer from $31.00 to $29.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. Hsbc Global Res raised Pfizer to a “strong-buy” rating in a research report on Monday, March 10th. Bank of America reaffirmed a “neutral” rating and issued a $29.00 price target on shares of Pfizer in a report on Tuesday, December 10th. Finally, Truist Financial cut their price objective on shares of Pfizer from $36.00 to $32.00 and set a “buy” rating on the stock in a report on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $31.92.

Pfizer Stock Up 0.1 %

Shares of NYSE:PFE opened at $26.20 on Friday. Pfizer Inc. has a 1-year low of $24.48 and a 1-year high of $31.54. 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 stock 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 firm has a fifty day moving average price of $26.17 and a 200 day moving average price of $27.05.

Pfizer (NYSE:PFE) last announced its earnings results on Tuesday, February 4th. The biopharmaceutical company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.15. The business had revenue of $17.76 billion during the quarter, compared to the consensus estimate of $17.26 billion. Pfizer had a net margin of 12.62% and a return on equity of 19.47%. The business’s quarterly revenue was up 24.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.10 earnings per share. Sell-side analysts predict that Pfizer Inc. will post 2.95 EPS for the current year.

Insider Buying and Selling at Pfizer

In related news, Director Ronald E. Blaylock purchased 19,457 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The stock was purchased at an average cost of $25.65 per share, with a total value of $499,072.05. Following the completion of the acquisition, the director now directly owns 27,707 shares in the company, valued at $710,684.55. This trade 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 link. Company insiders own 0.06% of the company’s stock.

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.