Summit Financial LLC Has $2.07 Million Stock Holdings in Pfizer Inc. (NYSE:PFE)

Summit Financial LLC raised its stake in shares of Pfizer Inc. (NYSE:PFE) by 147.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 78,145 shares of the biopharmaceutical company’s stock after buying an additional 46,601 shares during the period. Summit Financial LLC’s holdings in Pfizer were worth $2,073,000 as of its most recent SEC filing.

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

Insider Activity at Pfizer

In other news, Director Ronald E. Blaylock purchased 19,457 shares of the business’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 acquisition, the director now directly owns 27,707 shares of the company’s stock, valued at approximately $710,684.55. This trade represents a 235.84 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.06% of the stock is owned by insiders.

Pfizer Trading Up 0.6 %

Pfizer stock opened at $25.36 on Tuesday. Pfizer Inc. has a 12 month low of $24.48 and a 12 month high of $31.54. The stock has a market cap of $143.80 billion, a price-to-earnings ratio of 17.98, a price-to-earnings-growth ratio of 0.64 and a beta of 0.61. The business has a 50 day moving average price of $26.05 and a two-hundred day moving average price of $26.88. The company has a quick ratio of 0.73, a current ratio of 1.00 and a debt-to-equity ratio of 0.63.

Pfizer (NYSE:PFE) last issued its earnings results on Tuesday, February 4th. The biopharmaceutical company reported $0.63 earnings per share for the quarter, beating 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 business had revenue of $17.76 billion for the quarter, compared to analyst estimates of $17.26 billion. During the same period in the previous year, the business earned $0.10 EPS. The firm’s revenue was up 24.7% on a year-over-year basis. As a group, equities analysts forecast that Pfizer Inc. will post 2.95 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. Truist Financial cut their price target 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. Guggenheim reiterated a “buy” rating on shares of Pfizer in a research note on Tuesday, March 18th. Citigroup cut their price objective on Pfizer from $30.00 to $29.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 28th. Hsbc Global Res raised Pfizer to a “strong-buy” rating in a research report on Monday, March 10th. Finally, UBS Group dropped their price target on shares of Pfizer from $31.00 to $29.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, seven have given 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.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $31.92.

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.