RNC Capital Management LLC Has $1.07 Million Position in Pfizer Inc. (NYSE:PFE)

RNC Capital Management LLC lowered its holdings in shares of Pfizer Inc. (NYSE:PFE) by 42.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,081 shares of the biopharmaceutical company’s stock after selling 26,801 shares during the quarter. RNC Capital Management LLC’s holdings in Pfizer were worth $1,068,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. ARK Investment Management LLC raised its stake in shares of Pfizer by 7.7% during the 4th quarter. ARK Investment Management LLC now owns 499,757 shares of the biopharmaceutical company’s stock worth $14,388,000 after purchasing an additional 35,677 shares in the last quarter. Trust Co of the South bought a new stake in Pfizer in the 4th quarter valued at $802,000. Tectonic Advisors LLC grew its holdings in Pfizer by 17.8% in the 4th quarter. Tectonic Advisors LLC now owns 126,933 shares of the biopharmaceutical company’s stock valued at $3,654,000 after buying an additional 19,173 shares in the last quarter. Twin Peaks Wealth Advisors LLC acquired a new position in Pfizer in the 4th quarter valued at $212,000. Finally, Red Door Wealth Management LLC grew its holdings in Pfizer by 3.0% in the 4th quarter. Red Door Wealth Management LLC now owns 142,130 shares of the biopharmaceutical company’s stock valued at $4,092,000 after buying an additional 4,114 shares in the last quarter. Institutional investors and hedge funds own 68.36% of the company’s stock.

Pfizer Price Performance

PFE opened at $27.77 on Thursday. Pfizer Inc. has a 12-month low of $25.61 and a 12-month high of $42.22. The company has a current ratio of 0.91, a quick ratio of 0.69 and a debt-to-equity ratio of 0.69. The stock has a 50-day moving average price of $27.47 and a 200-day moving average price of $29.47. The stock has a market capitalization of $157.25 billion, a P/E ratio of 77.14, a PEG ratio of 1.24 and a beta of 0.61.

Pfizer (NYSE:PFE) last released its earnings results on Tuesday, January 30th. The biopharmaceutical company reported $0.10 earnings per share 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 analyst estimates of $14.37 billion. Pfizer had a return on equity of 10.88% and a net margin of 3.62%. Pfizer’s revenue for the quarter was down 41.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.14 EPS. Equities analysts predict that Pfizer Inc. will post 2.22 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently weighed in on PFE. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $45.00 price objective on shares of Pfizer in a research note on Friday, March 1st. Truist Financial dropped their target price on Pfizer from $42.00 to $36.00 and set a “buy” rating for the company in a research report on Thursday, December 14th. Argus downgraded Pfizer from a “buy” rating to a “hold” rating in a research report on Friday, March 22nd. Guggenheim started coverage on Pfizer in a research report on Friday, February 23rd. They set a “buy” rating and a $36.00 price objective for the company. Finally, UBS Group lowered their price objective on Pfizer from $34.00 to $27.00 and set a “neutral” rating for the company in a research report on Thursday, December 14th. Twelve investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $36.88.

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.