Latitude Advisors LLC Reduces Stock Holdings in Pfizer Inc. (NYSE:PFE)

Latitude Advisors LLC trimmed its holdings in Pfizer Inc. (NYSE:PFE) by 14.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 17,484 shares of the biopharmaceutical company’s stock after selling 2,985 shares during the period. Latitude Advisors LLC’s holdings in Pfizer were worth $503,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in PFE. Worth Asset Management LLC acquired a new position in Pfizer in the 1st quarter valued at $29,000. Briaud Financial Planning Inc acquired a new stake in Pfizer in the 3rd quarter worth about $30,000. GoalVest Advisory LLC increased its position in Pfizer by 304.9% during the fourth quarter. GoalVest Advisory LLC now owns 1,077 shares of the biopharmaceutical company’s stock worth $31,000 after purchasing an additional 811 shares during the last quarter. Mizuho Securities Co. Ltd. acquired a new position in shares of Pfizer in the 3rd quarter valued at $34,000. Finally, VisionPoint Advisory Group LLC grew its stake in shares of Pfizer by 52,350.0% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 1,049 shares of the biopharmaceutical company’s stock valued at $35,000 after buying an additional 1,047 shares during the period. 68.36% of the stock is currently owned by hedge funds and other institutional investors.

Pfizer Price Performance

PFE traded down $0.22 during midday trading on Wednesday, hitting $25.69. The company had a trading volume of 28,885,313 shares, compared to its average volume of 33,467,946. Pfizer Inc. has a twelve month low of $25.61 and a twelve month high of $41.33. The firm’s 50-day simple moving average is $27.23 and its 200-day simple moving average is $28.79. The company has a market capitalization of $145.47 billion, a PE ratio of 71.36, a P/E/G ratio of 1.18 and a beta of 0.61. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.69 and a current ratio of 0.91.

Pfizer (NYSE:PFE) last posted its quarterly earnings data on Tuesday, January 30th. The biopharmaceutical company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.19) by $0.29. The firm had revenue of $14.25 billion for 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 revenue for the quarter was down 41.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.14 EPS. Equities research analysts predict that Pfizer Inc. will post 2.22 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have weighed in on PFE shares. Guggenheim assumed coverage on shares of Pfizer in a research report on Friday, February 23rd. They set a “buy” rating and a $36.00 price target on the stock. Cantor Fitzgerald restated an “overweight” rating and set a $45.00 target price on shares of Pfizer in a report on Monday. TD Cowen downgraded Pfizer from an “outperform” rating to a “market perform” rating and set a $32.00 price target for the company. in a report on Thursday, January 4th. Finally, Argus cut Pfizer from a “buy” rating to a “hold” rating in a research note on Friday, March 22nd. Twelve analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $36.88.

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.