Wellington Management Group LLP Sells 23,736,431 Shares of Pfizer Inc. (NYSE:PFE)

Wellington Management Group LLP lowered its holdings in shares of Pfizer Inc. (NYSE:PFE) by 14.5% in the 4th quarter, Holdings Channel.com reports. The firm owned 139,990,889 shares of the biopharmaceutical company’s stock after selling 23,736,431 shares during the quarter. Pfizer comprises 0.7% of Wellington Management Group LLP’s portfolio, making the stock its 25th largest holding. Wellington Management Group LLP’s holdings in Pfizer were worth $3,713,958,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in PFE. Retirement Wealth Solutions LLC bought a new position in shares of Pfizer in the 4th quarter valued at about $26,000. Rialto Wealth Management LLC bought a new stake in shares of Pfizer in the 4th quarter valued at approximately $26,000. Kohmann Bosshard Financial Services LLC purchased a new position in shares of Pfizer in the 4th quarter worth approximately $28,000. Noble Wealth Management PBC bought a new position in shares of Pfizer during the 4th quarter valued at approximately $31,000. Finally, Curio Wealth LLC purchased a new stake in Pfizer during the 4th quarter valued at $32,000. 68.36% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Ronald E. Blaylock purchased 19,457 shares of the business’s stock in a transaction dated Thursday, February 13th. The shares were acquired at an average cost of $25.65 per share, for a total transaction of $499,072.05. Following the acquisition, the director now owns 27,707 shares of the company’s stock, valued at $710,684.55. The trade was a 235.84 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.06% of the stock is currently owned by insiders.

Pfizer Stock Performance

Shares of Pfizer stock opened at $25.20 on Monday. The company has a current ratio of 1.00, a quick ratio of 0.73 and a debt-to-equity ratio of 0.63. The stock’s fifty day moving average price is $26.06 and its 200-day moving average price is $26.90. The firm has a market cap of $142.93 billion, a P/E ratio of 17.87, a P/E/G ratio of 0.64 and a beta of 0.61. Pfizer Inc. has a 12 month low of $24.48 and a 12 month high of $31.54.

Pfizer (NYSE:PFE) last posted 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. Pfizer had a net margin of 12.62% and a return on equity of 19.47%. The business had revenue of $17.76 billion for the quarter, compared to the consensus estimate of $17.26 billion. During the same quarter last year, the firm posted $0.10 EPS. The company’s revenue for the quarter was up 24.7% on a year-over-year basis. On average, equities research analysts expect that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have weighed in on PFE shares. Guggenheim reiterated a “buy” rating on shares of Pfizer in a research report on Tuesday, March 18th. Truist Financial cut their price target on shares of Pfizer from $36.00 to $32.00 and set a “buy” rating on the stock in a report on Wednesday, December 18th. Citigroup decreased their price objective on shares of Pfizer from $30.00 to $29.00 and set a “neutral” rating for the company in a research note on Tuesday, January 28th. Hsbc Global Res raised Pfizer to a “strong-buy” rating in a research note on Monday, March 10th. Finally, UBS Group decreased their price target on Pfizer from $31.00 to $29.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $31.92.

Pfizer Company 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.