Bowen Hanes & Co. Inc. Adjusts Its Stake in Pfizer Inc.

Bowen Hanes & Co. Inc. has decreased its holdings in Pfizer Inc. (NYSE:PFE - Free Report) by 24.9% during the fourth quarter, as reported in their latest 13F filing with the SEC. Following the sale of 15,287 shares during this time, the investment firm now owns 46,184 shares of the biopharmaceutical company’s stock. The value of Bowen Hanes & Co. Inc.'s stake in Pfizer stands at approximately $1.23 million according to their recent filing.

Investment Shifts

Several institutional investors and hedge funds have also made adjustments to their positions in Pfizer recently. For instance, in the third quarter, the Swiss National Bank increased its stake in Pfizer shares by 0.6%, now owning 16,819,712 shares valued at about $486.76 million after purchasing an additional 100,900 shares. Charles Schwab Investment Management Inc. expanded its holdings by 11.0%, bringing their total to 130,143,942 shares valued at approximately $3.77 billion after buying 12,864,343 additional shares.

Moreover, Empowered Funds LLC significantly raised its position in Pfizer by 80.9%, now owning 508,256 shares worth around $14.71 million after acquiring 227,349 more shares. KBC Group NV increased its stake by 26.0%, with a total of 3,105,433 shares valued at $89.87 million after adding 639,985 shares. Finally, Nordea Investment Management AB raised its holdings in Pfizer by 36.1% in the fourth quarter, now owning 4,071,700 shares, valued at $108 million after adding 1,080,822 shares.

Overall, institutional investors and hedge funds collectively own approximately 68.36% of Pfizer's stock, demonstrating a strong interest in the biopharmaceutical giant.

Current Stock Performance

On Thursday, Pfizer's stock (PFE) opened at $25.73. The company maintains a debt-to-equity ratio of 0.63, with a current ratio of 1.00 and a quick ratio of 0.73. Pfizer boasts a market capitalization of $145.79 billion, a PE ratio of 18.24, and a price-to-earnings-growth ratio of 0.64, alongside a beta of 0.61. Over the last year, the stock has seen a low of $24.48 and a high of $31.54.

Earnings Report

Pfizer recently announced its quarterly earnings results on February 4th, where it reported an earnings per share (EPS) of $0.63, surpassing analysts' consensus estimate of $0.48 by $0.15. The company achieved revenues of $17.76 billion, exceeding projections of $17.26 billion. Pfizer reported a return on equity of 19.47% and a net margin of 12.62%. Year-over-year, Pfizer's revenue rose by 24.7%. Expecting its earnings call results to be a strong guide, analysts project that Pfizer Inc. will post an EPS of 2.95 for the current year.

Company Insights

In other news regarding Pfizer, Director Ronald E. Blaylock acquired 19,457 shares of the company on February 13th at an average price of $25.65 per share, amounting to a total transaction of approximately $499,072.05. Post-transaction, he now holds 27,707 shares, valued at about $710,684.55, indicating a 235.84% increase in ownership. This insider activity highlights significant trust from within the company.

Analyst Commentary

Recent reports from various research analysts on Pfizer have emerged as well. Wolfe Research began covering Pfizer on November 15th, issuing an "underperform" rating with a price target of $25. Citigroup reduced their price target for Pfizer from $30 to $29 with a “neutral” rating. Furthermore, StockNews.com adjusted Pfizer's rating from “strong-buy” to “buy.” In addition, Truist Financial lowered their price target on Pfizer from $36 to $32 while maintaining a “buy” recommendation. Bank of America also reaffirmed a “neutral” stance on Pfizer with a price target of $29. Presently, the stock holds an average rating of "Moderate Buy" from analysts, with a consensus price target set at $31.92.

About Pfizer

Pfizer Inc. is a leading player in biopharmaceuticals, dedicated to discovering, developing, manufacturing, marketing, distributing, and selling an array of biomedical products, both domestically and internationally. The company offers an extensive range of medicines and vaccines, addressing various therapeutic areas, which include cardiovascular health, migraine relief, women’s health, infectious diseases, and solutions for COVID-19 treatment and prevention.

Pfizer, Stocks, Investment, Holdings