First Interstate Bank Trims Stock Holdings in Pfizer Inc. (NYSE:PFE)

First Interstate Bank trimmed its holdings in Pfizer Inc. (NYSE:PFE) by 12.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 14,178 shares of the biopharmaceutical company’s stock after selling 2,070 shares during the quarter. First Interstate Bank’s holdings in Pfizer were worth $408,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Moneta Group Investment Advisors LLC grew its stake 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 worth $8,257,000,000 after purchasing an additional 160,963,976 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Pfizer by 10.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 95,772,746 shares of the biopharmaceutical company’s stock worth $3,161,261,000 after purchasing an additional 9,393,992 shares in the last quarter. Morgan Stanley grew its stake in Pfizer by 0.4% in the third quarter. Morgan Stanley now owns 84,927,802 shares of the biopharmaceutical company’s stock worth $2,817,055,000 after purchasing an additional 348,628 shares in the last quarter. Norges Bank bought a new position in Pfizer in the fourth quarter worth approximately $3,150,472,000. Finally, Massachusetts Financial Services Co. MA grew its stake in Pfizer by 9.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 60,207,521 shares of the biopharmaceutical company’s stock worth $1,997,083,000 after purchasing an additional 5,185,453 shares in the last quarter. 68.36% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Pfizer Stock Performance

PFE stock traded down $0.22 during midday trading on Tuesday, reaching $25.69. The stock had a trading volume of 28,601,821 shares, compared to its average volume of 42,553,457. The stock has a market cap of $145.47 billion, a PE ratio of 71.69, a P/E/G ratio of 1.16 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. The firm has a fifty day simple moving average of $27.27 and a two-hundred day simple moving average of $28.84. Pfizer Inc. has a 52-week low of $25.61 and a 52-week high of $41.33.

Pfizer (NYSE:PFE) last issued its earnings results on Tuesday, January 30th. The biopharmaceutical company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.29. The company had revenue of $14.25 billion during the quarter, compared to analyst estimates of $14.37 billion. Pfizer had a return on equity of 10.88% and a net margin of 3.62%. The firm’s quarterly revenue was down 41.3% on a year-over-year basis. During the same quarter last year, the business posted $1.14 EPS. As a group, equities research analysts anticipate that Pfizer Inc. will post 2.22 EPS for the current year.

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.