Pfizer Inc. (NYSE:PFE) Shares Sold by Cortland Associates Inc. MO

Posted by on Apr 10th, 2023

Cortland Associates Inc. MO trimmed its position in shares of Pfizer Inc. (NYSE:PFE – Get Rating) by 2.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 8,413 shares of the biopharmaceutical company’s stock after selling 250 shares during the quarter. Cortland Associates Inc. MO’s holdings in Pfizer were worth $431,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of PFE. Assenagon Asset Management S.A. raised its position in Pfizer by 528.9% during the third quarter. Assenagon Asset Management S.A. now owns 12,401,164 shares of the biopharmaceutical company’s stock worth $542,675,000 after acquiring an additional 10,429,412 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Pfizer by 13.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 59,828,849 shares of the biopharmaceutical company’s stock worth $3,097,341,000 after acquiring an additional 6,972,650 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in shares of Pfizer in the first quarter valued at $311,238,000. Vanguard Group Inc. boosted its stake in shares of Pfizer by 1.1% during the third quarter. Vanguard Group Inc. now owns 493,584,761 shares of the biopharmaceutical company’s stock valued at $21,599,270,000 after acquiring an additional 5,139,634 shares during the last quarter. Finally, First Trust Advisors LP raised its stake in Pfizer by 108.3% in the 1st quarter. First Trust Advisors LP now owns 7,909,665 shares of the biopharmaceutical company’s stock valued at $409,483,000 after purchasing an additional 4,112,528 shares during the last quarter. Institutional investors and hedge funds own 67.62% of the company’s stock.

Insiders Place Their Bets

In other news, major shareholder Pfizer Inc acquired 1,811,594 shares of the company’s stock in a transaction dated Friday, March 17th. The shares were bought at an average price of $2.76 per share, with a total value of $4,999,999.44. Following the purchase, the insider now owns 5,952,263 shares of the company’s stock, valued at $16,428,245.88. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.05% of the stock is owned by insiders.

Wall Street Analyst Weigh In

PFE has been the subject of several recent analyst reports. UBS Group set a $45.00 target price on shares of Pfizer in a research note on Tuesday, March 14th. Bank of America downgraded Pfizer from a “buy” rating to a “neutral” rating and set a $60.00 target price on the stock. in a research report on Wednesday, January 4th. Berenberg Bank set a $40.00 price objective on shares of Pfizer in a research note on Tuesday, February 7th. Daiwa Capital Markets raised shares of Pfizer from a “neutral” rating to an “outperform” rating and set a $51.00 target price on the stock in a research report on Tuesday, February 7th. Finally, The Goldman Sachs Group raised shares of Pfizer from a “neutral” rating to a “buy” rating and upped their price target for the stock from $47.00 to $60.00 in a research report on Tuesday, December 13th. Eight analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $49.93.

Pfizer Trading Down 0.1 %

NYSE:PFE opened at $41.50 on Monday. Pfizer Inc. has a 12-month low of $39.23 and a 12-month high of $56.32. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.22 and a quick ratio of 1.00. The business has a 50 day simple moving average of $41.66 and a 200 day simple moving average of $45.47. The firm has a market capitalization of $234.24 billion, a P/E ratio of 7.57, a P/E/G ratio of 1.40 and a beta of 0.64.

Pfizer (NYSE:PFE – Get Rating) last announced its quarterly earnings results on Tuesday, January 31st. The biopharmaceutical company reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.03 by $0.11. The company had revenue of $24.30 billion during the quarter, compared to the consensus estimate of $24.40 billion. Pfizer had a net margin of 31.27% and a return on equity of 42.03%. The company’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.08 earnings per share. Equities research analysts predict that Pfizer Inc. will post 3.3 EPS for the current 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.

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Institutional Ownership by Quarter for Pfizer (NYSE:PFE)

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