Eastern Bank Cuts Stake in Pfizer Inc. (NYSE:PFE)

Posted by on Apr 3rd, 2023

Eastern Bank lowered its position in Pfizer Inc. (NYSE:PFE – Get Rating) by 3.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 88,516 shares of the biopharmaceutical company’s stock after selling 3,425 shares during the quarter. Eastern Bank’s holdings in Pfizer were worth $4,536,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Saxon Interests Inc. lifted its position in Pfizer by 12.9% in the third quarter. Saxon Interests Inc. now owns 8,309 shares of the biopharmaceutical company’s stock valued at $367,000 after purchasing an additional 951 shares during the last quarter. Platte River Wealth Advisors LLC lifted its position in Pfizer by 62.8% in the third quarter. Platte River Wealth Advisors LLC now owns 12,717 shares of the biopharmaceutical company’s stock valued at $556,000 after purchasing an additional 4,905 shares during the last quarter. Accuvest Global Advisors lifted its position in Pfizer by 16.6% in the third quarter. Accuvest Global Advisors now owns 12,994 shares of the biopharmaceutical company’s stock valued at $569,000 after purchasing an additional 1,848 shares during the last quarter. Secure Asset Management LLC lifted its position in Pfizer by 3.5% in the fourth quarter. Secure Asset Management LLC now owns 15,835 shares of the biopharmaceutical company’s stock valued at $811,000 after purchasing an additional 537 shares during the last quarter. Finally, Naples Global Advisors LLC lifted its position in Pfizer by 0.9% in the fourth quarter. Naples Global Advisors LLC now owns 98,766 shares of the biopharmaceutical company’s stock valued at $5,061,000 after purchasing an additional 887 shares during the last quarter. Hedge funds and other institutional investors own 67.62% of the company’s stock.

Insider Transactions at Pfizer

In related news, major shareholder Pfizer Inc bought 1,811,594 shares of the business’s stock in a transaction dated Friday, March 17th. The shares were purchased at an average cost of $2.76 per share, with a total value of $4,999,999.44. Following the completion of the purchase, the insider now owns 5,952,263 shares in the company, valued at approximately $16,428,245.88. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.05% of the company’s stock.

Analyst Ratings Changes

PFE has been the subject of several recent research reports. Jefferies Financial Group initiated coverage on Pfizer in a research report on Monday, March 6th. They issued a “hold” rating and a $43.00 price objective for the company. Berenberg Bank set a $40.00 price objective on Pfizer in a research report on Tuesday, February 7th. UBS Group set a $45.00 target price on Pfizer in a report on Tuesday, March 14th. The Goldman Sachs Group upgraded Pfizer from a “neutral” rating to a “buy” rating and upped their target price for the company from $47.00 to $60.00 in a report on Tuesday, December 13th. Finally, StockNews.com started coverage on Pfizer in a report on Thursday, March 16th. They set a “buy” rating for the company. Nine analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $50.38.

Pfizer Price Performance

Shares of PFE stock opened at $40.80 on Monday. The stock has a market cap of $230.29 billion, a price-to-earnings ratio of 7.45, a PEG ratio of 1.37 and a beta of 0.64. The business’s fifty day moving average is $41.98 and its 200 day moving average is $45.61. Pfizer Inc. has a twelve month low of $39.23 and a twelve month high of $56.32. The company has a quick ratio of 1.00, a current ratio of 1.22 and a debt-to-equity ratio of 0.34.

Pfizer (NYSE:PFE – Get Rating) last issued its quarterly earnings results on Tuesday, January 31st. The biopharmaceutical company reported $1.14 earnings per share for the quarter, topping the consensus estimate of $1.03 by $0.11. The company had revenue of $24.30 billion for the quarter, compared to analysts’ expectations of $24.40 billion. Pfizer had a return on equity of 42.03% and a net margin of 31.27%. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.08 earnings per share. Research analysts expect that Pfizer Inc. will post 3.3 EPS for the current fiscal year.

About Pfizer

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Pfizer Inc is a research-based global biopharmaceutical company. It engages in the discovery, development, manufacture, marketing, sales and distribution of biopharmaceutical products worldwide. The firm works across developed and emerging markets to advance wellness, prevention, treatments and cures that challenge the most feared diseases.

See Also

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Institutional Ownership by Quarter for Pfizer (NYSE:PFE)

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