RNC Capital Management LLC Sells 26,801 Shares of Pfizer Inc. (NYSE:PFE)

RNC Capital Management LLC lessened its holdings in Pfizer Inc. (NYSE:PFE) by 42.0% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 37,081 shares of the biopharmaceutical company’s stock after selling 26,801 shares during the period. RNC Capital Management LLC’s holdings in Pfizer were worth $1,068,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of PFE. Moneta Group Investment Advisors LLC boosted its stake in shares of Pfizer by 89,592.7% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 161,143,638 shares of the biopharmaceutical company’s stock valued at $8,257,000,000 after purchasing an additional 160,963,976 shares in the last quarter. Norges Bank bought a new stake in shares of Pfizer in the 4th quarter valued at about $3,150,472,000. Charles Schwab Investment Management Inc. increased its stake in shares of Pfizer by 10.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 95,772,746 shares of the biopharmaceutical company’s stock valued at $3,161,261,000 after acquiring an additional 9,393,992 shares during the last quarter. Morgan Stanley increased its stake in shares of Pfizer by 10.3% in the 4th quarter. Morgan Stanley now owns 79,499,361 shares of the biopharmaceutical company’s stock valued at $4,073,547,000 after acquiring an additional 7,419,929 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new stake in shares of Pfizer in the 1st quarter valued at about $311,238,000. Institutional investors own 68.36% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on PFE shares. Argus cut Pfizer from a “buy” rating to a “hold” rating in a research note on Friday, March 22nd. Cantor Fitzgerald reissued an “overweight” rating and set a $45.00 target price on shares of Pfizer in a research note on Friday, March 1st. UBS Group lowered their target price on Pfizer from $34.00 to $27.00 and set a “neutral” rating for the company in a research note on Thursday, December 14th. TD Cowen cut shares of Pfizer from an “outperform” rating to a “market perform” rating and set a $32.00 price target for the company. in a research note on Thursday, January 4th. Finally, Guggenheim initiated coverage on shares of Pfizer in a research note on Friday, February 23rd. They set a “buy” rating and a $36.00 price target for the company. Twelve analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $36.88.

Pfizer Trading Up 0.7 %

PFE stock opened at $27.77 on Thursday. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.91 and a quick ratio of 0.69. The company has a fifty day moving average price of $27.47 and a two-hundred day moving average price of $29.47. Pfizer Inc. has a one year low of $25.61 and a one year high of $42.22. The stock has a market cap of $157.25 billion, a price-to-earnings ratio of 77.14, a price-to-earnings-growth ratio of 1.24 and a beta of 0.61.

Pfizer (NYSE:PFE) last announced its earnings results on Tuesday, January 30th. The biopharmaceutical company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.29. The company 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%. Pfizer’s quarterly revenue was down 41.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.14 earnings per share. Equities analysts anticipate that Pfizer Inc. will post 2.22 EPS for the current year.

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.