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

First Interstate Bank lowered its stake in shares of Pfizer Inc. (NYSE:PFE) by 12.7% during the fourth quarter, Holdings Channel reports. The fund owned 14,178 shares of the biopharmaceutical company’s stock after selling 2,070 shares during the period. First Interstate Bank’s holdings in Pfizer were worth $408,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Tyche Wealth Partners LLC acquired a new position in shares of Pfizer during the fourth quarter worth $618,000. HealthInvest Partners AB acquired a new position in shares of Pfizer during the fourth quarter worth $1,233,000. Allen Capital Group LLC grew its stake in shares of Pfizer by 59.4% during the fourth quarter. Allen Capital Group LLC now owns 107,758 shares of the biopharmaceutical company’s stock worth $3,102,000 after purchasing an additional 40,145 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Pfizer by 4.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,777,606 shares of the biopharmaceutical company’s stock worth $79,967,000 after purchasing an additional 106,682 shares in the last quarter. Finally, Signet Financial Management LLC grew its stake in shares of Pfizer by 4.3% during the fourth quarter. Signet Financial Management LLC now owns 41,591 shares of the biopharmaceutical company’s stock worth $1,197,000 after purchasing an additional 1,730 shares in the last quarter. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Pfizer Stock Performance

NYSE PFE traded down $0.22 during trading hours on Tuesday, hitting $25.69. 28,601,821 shares of the stock were exchanged, compared to its average volume of 42,553,457. The company has a market cap of $145.47 billion, a price-to-earnings ratio of 71.69, a price-to-earnings-growth ratio of 1.16 and a beta of 0.61. Pfizer Inc. has a 12-month low of $25.61 and a 12-month high of $41.33. The stock has a 50-day moving average of $27.27 and a 200 day moving average of $28.84. The company has a quick ratio of 0.69, a current ratio of 0.91 and a debt-to-equity ratio of 0.69.

Pfizer (NYSE:PFE) last posted its quarterly earnings results 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 during the quarter, compared to analysts’ expectations of $14.37 billion. Pfizer had a net margin of 3.62% and a return on equity of 10.88%. The firm’s revenue for the quarter was down 41.3% on a year-over-year basis. During the same period in the prior year, the company posted $1.14 earnings per share. As a group, equities research analysts forecast that Pfizer Inc. will post 2.22 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on PFE shares. TD Cowen downgraded shares of Pfizer from an “outperform” rating to a “market perform” rating and set a $32.00 target price for the company. in a research note on Thursday, January 4th. Guggenheim assumed coverage on shares of Pfizer in a research note on Friday, February 23rd. They issued a “buy” rating and a $36.00 price objective for the company. Cantor Fitzgerald restated an “overweight” rating and issued a $45.00 price objective on shares of Pfizer in a research note on Monday. Finally, Argus downgraded shares of 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. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $36.88.

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.