Sheets Smith Wealth Management Sells 27,150 Shares of Pfizer Inc. $PFE

Sheets Smith Wealth Management lowered its stake in Pfizer Inc. (NYSE:PFE) by 52.2% in the 2nd quarter, Holdings Channel reports. The firm owned 24,886 shares of the biopharmaceutical company’s stock after selling 27,150 shares during the quarter. Sheets Smith Wealth Management’s holdings in Pfizer were worth $603,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Pacer Advisors Inc. grew its position in shares of Pfizer by 856.8% during the 1st quarter. Pacer Advisors Inc. now owns 20,053,828 shares of the biopharmaceutical company’s stock valued at $508,164,000 after purchasing an additional 17,957,928 shares in the last quarter. Amundi boosted its stake in Pfizer by 43.4% during the first quarter. Amundi now owns 52,090,403 shares of the biopharmaceutical company’s stock valued at $1,265,277,000 after buying an additional 15,758,846 shares during the period. Nuveen LLC purchased a new stake in shares of Pfizer in the 1st quarter valued at about $389,861,000. Goldman Sachs Group Inc. raised its holdings in shares of Pfizer by 51.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 26,456,457 shares of the biopharmaceutical company’s stock valued at $670,407,000 after acquiring an additional 9,041,990 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in shares of Pfizer by 307.5% in the 1st quarter. Assenagon Asset Management S.A. now owns 10,046,340 shares of the biopharmaceutical company’s stock valued at $254,574,000 after acquiring an additional 7,581,030 shares in the last quarter. 68.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on PFE shares. Wall Street Zen upgraded shares of Pfizer from a “hold” rating to a “buy” rating in a research report on Saturday, September 20th. Morgan Stanley lifted their price objective on shares of Pfizer from $32.00 to $33.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 6th. Citigroup lifted their price objective on shares of Pfizer from $25.00 to $26.00 and gave the stock a “neutral” rating in a report on Wednesday, August 6th. Bank of America raised their price target on Pfizer from $27.00 to $28.00 and gave the company a “neutral” rating in a research report on Wednesday, August 6th. Finally, Berenberg Bank reduced their price objective on Pfizer from $28.00 to $25.00 and set a “hold” rating on the stock in a research report on Thursday, May 29th. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $28.12.

Pfizer Stock Down 0.3%

Shares of NYSE:PFE opened at $24.07 on Thursday. The stock has a market capitalization of $136.82 billion, a P/E ratio of 12.80, a price-to-earnings-growth ratio of 0.85 and a beta of 0.55. Pfizer Inc. has a 12-month low of $20.92 and a 12-month high of $30.43. The stock’s 50-day moving average price is $24.59 and its 200-day moving average price is $24.18. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.65.

Pfizer (NYSE:PFE) last issued its earnings results on Tuesday, August 5th. The biopharmaceutical company reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.20. Pfizer had a return on equity of 21.42% and a net margin of 16.84%.The company had revenue of $14.65 billion during the quarter, compared to analysts’ expectations of $13.43 billion. During the same period in the prior year, the business posted $0.60 EPS. Pfizer’s quarterly revenue was up 10.3% compared to the same quarter last year. Pfizer has set its FY 2025 guidance at 2.900-3.100 EPS. On average, equities analysts anticipate that Pfizer Inc. will post 2.95 earnings per share for the current year.

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.