Patten & Patten Inc. TN Sells 8,188 Shares of Pfizer Inc. (NYSE:PFE)

Patten & Patten Inc. TN reduced its position in Pfizer Inc. (NYSE:PFE) by 9.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 80,994 shares of the biopharmaceutical company’s stock after selling 8,188 shares during the period. Patten & Patten Inc. TN’s holdings in Pfizer were worth $2,149,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the company. Retirement Wealth Solutions LLC purchased a new position in Pfizer in the fourth quarter worth $26,000. Rialto Wealth Management LLC acquired a new stake in shares of Pfizer in the 4th quarter worth $26,000. Kohmann Bosshard Financial Services LLC purchased a new position in Pfizer during the 4th quarter worth $28,000. Gladius Capital Management LP increased its position in Pfizer by 102.8% during the 3rd quarter. Gladius Capital Management LP now owns 1,043 shares of the biopharmaceutical company’s stock valued at $30,000 after buying an additional 38,015 shares in the last quarter. Finally, Noble Wealth Management PBC purchased a new stake in Pfizer in the fourth quarter valued at about $31,000. Institutional investors own 68.36% of the company’s stock.

Pfizer Stock Up 0.5 %

Shares of PFE opened at $25.74 on Friday. The stock has a 50 day moving average price of $26.24 and a 200 day moving average price of $27.13. Pfizer Inc. has a one year low of $24.48 and a one year high of $31.54. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.73 and a current ratio of 1.00. The stock has a market capitalization of $145.85 billion, a price-to-earnings ratio of 18.25, a PEG ratio of 0.64 and a beta of 0.61.

Pfizer (NYSE:PFE) last issued its earnings results on Tuesday, February 4th. The biopharmaceutical company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.15. The business had revenue of $17.76 billion during the quarter, compared to analysts’ expectations of $17.26 billion. Pfizer had a net margin of 12.62% and a return on equity of 19.47%. The company’s quarterly revenue was up 24.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.10 earnings per share. Equities research analysts forecast that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

PFE has been the subject of several research analyst reports. UBS Group decreased their price objective on shares of Pfizer from $31.00 to $29.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. Guggenheim reiterated a “buy” rating on shares of Pfizer in a research note on Wednesday. Bank of America reissued a “neutral” rating and issued a $29.00 target price on shares of Pfizer in a research report on Tuesday, December 10th. Citigroup lowered their price target on Pfizer from $30.00 to $29.00 and set a “neutral” rating for the company in a research report on Tuesday, January 28th. Finally, Hsbc Global Res raised Pfizer to a “strong-buy” rating in a report on Monday, March 10th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $31.92.

Insiders Place Their Bets

In related news, Director Ronald E. Blaylock purchased 19,457 shares of the business’s stock in a transaction that occurred on Thursday, February 13th. The stock was purchased at an average price of $25.65 per share, with a total value of $499,072.05. Following the completion of the acquisition, the director now owns 27,707 shares in the company, valued at $710,684.55. This trade represents a 235.84 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.06% of the company’s stock.

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.