Aprio Wealth Management LLC Cuts Holdings in Pfizer Inc. (NYSE:PFE)

Aprio Wealth Management LLC trimmed its holdings in shares of Pfizer Inc. (NYSE:PFE) by 68.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,096 shares of the biopharmaceutical company’s stock after selling 35,068 shares during the period. Aprio Wealth Management LLC’s holdings in Pfizer were worth $466,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. LGT Group Foundation increased its stake in Pfizer by 2.5% in the 2nd quarter. LGT Group Foundation now owns 742,875 shares of the biopharmaceutical company’s stock valued at $20,786,000 after purchasing an additional 18,274 shares in the last quarter. ORG Partners LLC increased its stake in Pfizer by 1,729.9% in the 2nd quarter. ORG Partners LLC now owns 47,028 shares of the biopharmaceutical company’s stock valued at $1,327,000 after purchasing an additional 44,458 shares in the last quarter. Kempner Capital Management Inc. purchased a new position in Pfizer in the 1st quarter valued at approximately $2,439,000. Leo Wealth LLC purchased a new position in Pfizer in the 4th quarter valued at approximately $2,171,000. Finally, Power Corp of Canada increased its position in Pfizer by 28.1% during the fourth quarter. Power Corp of Canada now owns 174,201 shares of the biopharmaceutical company’s stock worth $5,015,000 after buying an additional 38,243 shares in the last quarter. 68.36% of the stock is owned by hedge funds and other institutional investors.

Pfizer Stock Up 2.1 %

Shares of NYSE PFE opened at $29.19 on Tuesday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.60 and a current ratio of 0.86. The firm has a market cap of $165.41 billion, a price-to-earnings ratio of -486.50, a PEG ratio of 1.23 and a beta of 0.67. Pfizer Inc. has a 1 year low of $25.20 and a 1 year high of $33.92. The stock’s 50-day simple moving average is $29.17 and its 200-day simple moving average is $28.32.

Pfizer (NYSE:PFE) last announced its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.14. The firm had revenue of $13.28 billion during the quarter, compared to analyst estimates of $12.96 billion. Pfizer had a positive return on equity of 8.42% and a negative net margin of 4.66%. Pfizer’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.67 earnings per share. As a group, equities analysts anticipate that Pfizer Inc. will post 2.66 earnings per share for the current fiscal year.

Analyst Ratings Changes

PFE has been the subject of several recent research reports. Barclays raised their price target on Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 31st. Daiwa America upgraded Pfizer from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Daiwa Capital Markets upgraded Pfizer from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $28.00 to $34.00 in a report on Wednesday, August 7th. Wells Fargo & Company lifted their target price on Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a report on Wednesday, July 31st. Finally, UBS Group lifted their target price on Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Nine research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $34.54.

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.