Migdal Insurance & Financial Holdings Ltd. Sells 1,761,741 Shares of Pfizer Inc. (NYSE:PFE)

Migdal Insurance & Financial Holdings Ltd. trimmed its position in Pfizer Inc. (NYSE:PFE) by 98.2% in the 4th quarter, HoldingsChannel reports. The fund owned 32,748 shares of the biopharmaceutical company’s stock after selling 1,761,741 shares during the quarter. Migdal Insurance & Financial Holdings Ltd.’s holdings in Pfizer were worth $943,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Moneta Group Investment Advisors LLC raised its position in shares of Pfizer by 89,592.7% during 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 during the period. Charles Schwab Investment Management Inc. increased its stake in 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 worth $3,161,261,000 after buying an additional 9,393,992 shares in the last quarter. Morgan Stanley raised its holdings in Pfizer by 0.4% during the third quarter. Morgan Stanley now owns 84,927,802 shares of the biopharmaceutical company’s stock valued at $2,817,055,000 after acquiring an additional 348,628 shares during the period. Norges Bank purchased a new position in shares of Pfizer in the fourth quarter valued at about $3,150,472,000. Finally, Massachusetts Financial Services Co. MA boosted its stake in shares of Pfizer by 9.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 60,207,521 shares of the biopharmaceutical company’s stock worth $1,997,083,000 after acquiring an additional 5,185,453 shares during the period. Institutional investors own 68.36% of the company’s stock.

Analyst Ratings Changes

PFE has been the topic of several recent analyst reports. Cantor Fitzgerald reissued an “overweight” rating and set a $45.00 target price on shares of Pfizer in a research note on Monday. TD Cowen cut shares of Pfizer from an “outperform” rating to a “market perform” rating and set a $32.00 price objective on the stock. in a research report on Thursday, January 4th. Argus downgraded shares of Pfizer from a “buy” rating to a “hold” rating in a report on Friday, March 22nd. 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 target price for the company. Twelve equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $36.88.

Pfizer Stock Performance

Pfizer stock opened at $25.41 on Thursday. The company has a quick ratio of 0.69, a current ratio of 0.91 and a debt-to-equity ratio of 0.69. Pfizer Inc. has a twelve month low of $25.26 and a twelve month high of $41.33. The company’s 50-day moving average price is $27.19 and its 200-day moving average price is $28.76. The company has a market cap of $143.86 billion, a PE ratio of 70.57, a price-to-earnings-growth ratio of 1.16 and a beta of 0.61.

Pfizer (NYSE:PFE) last issued its quarterly earnings data on Tuesday, January 30th. The biopharmaceutical company reported $0.10 earnings per share for the quarter, topping the consensus estimate of ($0.19) by $0.29. The company had revenue of $14.25 billion for the quarter, compared to analysts’ expectations of $14.37 billion. Pfizer had a return on equity of 10.88% and a net margin of 3.62%. The firm’s revenue for the quarter was down 41.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.14 earnings per share. On average, equities research analysts forecast that Pfizer Inc. will post 2.24 EPS for the current fiscal 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.