Palouse Capital Management Inc. Raises Stock Position in Pfizer Inc. (NYSE:PFE)

Palouse Capital Management Inc. boosted its stake in Pfizer Inc. (NYSE:PFE) by 57.7% during the 4th quarter, HoldingsChannel.com reports. The fund owned 157,076 shares of the biopharmaceutical company’s stock after purchasing an additional 57,476 shares during the quarter. Pfizer makes up 3.2% of Palouse Capital Management Inc.’s portfolio, making the stock its 3rd biggest holding. Palouse Capital Management Inc.’s holdings in Pfizer were worth $4,522,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. Moneta Group Investment Advisors LLC boosted its holdings in Pfizer by 89,592.7% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 161,143,638 shares of the biopharmaceutical company’s stock valued at $8,257,000,000 after acquiring an additional 160,963,976 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Pfizer by 10.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 95,772,746 shares of the biopharmaceutical company’s stock valued at $3,161,261,000 after buying an additional 9,393,992 shares during the period. Morgan Stanley lifted its position in Pfizer by 0.4% during the third quarter. Morgan Stanley now owns 84,927,802 shares of the biopharmaceutical company’s stock valued at $2,817,055,000 after buying an additional 348,628 shares during the period. Norges Bank purchased a new position in Pfizer during the fourth quarter valued at $3,150,472,000. Finally, Massachusetts Financial Services Co. MA lifted its position in Pfizer by 9.4% during the third 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 buying an additional 5,185,453 shares during the period. Institutional investors own 68.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on PFE. 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 report on Thursday, January 4th. Guggenheim began coverage on Pfizer in a research report on Friday, February 23rd. They set a “buy” rating and a $36.00 price objective for the company. Cantor Fitzgerald reissued an “overweight” rating and set a $45.00 price objective on shares of Pfizer in a research report on Monday. Finally, Argus lowered Pfizer from a “buy” rating to a “hold” rating in a research report on Friday, March 22nd. Twelve research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $36.88.

Pfizer Stock Performance

Shares of Pfizer stock traded up $0.60 during trading hours on Friday, reaching $25.99. 38,347,117 shares of the stock traded hands, compared to its average volume of 42,429,016. The company has a 50 day moving average price of $27.11 and a 200 day moving average price of $28.68. The firm has a market capitalization of $147.17 billion, a price-to-earnings ratio of 72.19, a P/E/G ratio of 1.15 and a beta of 0.61. Pfizer Inc. has a one year low of $25.23 and a one year high of $40.37. The company has a quick ratio of 0.69, a current ratio of 0.91 and a debt-to-equity ratio of 0.69.

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