Parisi Gray Wealth Management Cuts Stock Holdings in Pfizer Inc. (NYSE:PFE)

Parisi Gray Wealth Management lessened its holdings in Pfizer Inc. (NYSE:PFE) by 7.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,056 shares of the biopharmaceutical company’s stock after selling 678 shares during the period. Parisi Gray Wealth Management’s holdings in Pfizer were worth $232,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Next Level Private LLC increased its position in shares of Pfizer by 13.1% in the fourth quarter. Next Level Private LLC now owns 53,772 shares of the biopharmaceutical company’s stock worth $1,548,000 after acquiring an additional 6,214 shares in the last quarter. Planned Solutions Inc. acquired a new stake in Pfizer in the fourth quarter valued at approximately $236,000. First Pacific Financial lifted its stake in Pfizer by 7.3% in the fourth quarter. First Pacific Financial now owns 20,716 shares of the biopharmaceutical company’s stock valued at $596,000 after acquiring an additional 1,418 shares during the last quarter. Jacobs & Co. CA lifted its stake in shares of Pfizer by 1.6% in the fourth quarter. Jacobs & Co. CA now owns 330,023 shares of the biopharmaceutical company’s stock worth $9,501,000 after buying an additional 5,190 shares during the last quarter. Finally, ARK Investment Management LLC lifted its stake in shares of Pfizer by 7.7% in the fourth quarter. ARK Investment Management LLC now owns 499,757 shares of the biopharmaceutical company’s stock worth $14,388,000 after buying an additional 35,677 shares during the last quarter. 68.36% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Argus lowered shares of Pfizer from a “buy” rating to a “hold” rating in a report on Friday, March 22nd. 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 report on Thursday, January 4th. Guggenheim assumed coverage on shares of Pfizer in a report on Friday, February 23rd. They set a “buy” rating and a $36.00 price objective on the stock. Truist Financial cut their target price on shares of Pfizer from $42.00 to $36.00 and set a “buy” rating on the stock in a research report on Thursday, December 14th. Finally, UBS Group cut their target price on shares of Pfizer from $34.00 to $27.00 and set a “neutral” rating on the stock in a research report on Thursday, December 14th. Twelve 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 presently has an average rating of “Hold” and a consensus price target of $36.88.

Pfizer Stock Performance

Pfizer stock traded up $0.07 during mid-day trading on Thursday, hitting $27.85. 4,432,768 shares of the company’s stock traded hands, compared to its average volume of 43,242,164. The firm has a 50 day simple moving average of $27.47 and a two-hundred day simple moving average of $29.47. Pfizer Inc. has a fifty-two week low of $25.61 and a fifty-two week high of $42.22. The stock has a market cap of $157.70 billion, a price-to-earnings ratio of 77.14, a P/E/G ratio of 1.24 and a beta of 0.61. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.91 and a quick ratio of 0.69.

Pfizer (NYSE:PFE) last posted its quarterly earnings results on Tuesday, January 30th. The biopharmaceutical company reported $0.10 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%. Pfizer’s revenue for the quarter was down 41.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.14 earnings per share. On average, research analysts expect that Pfizer Inc. will post 2.22 EPS for the current fiscal year.

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.