Modera Wealth Management LLC has notably expanded its investment in Pfizer Inc. (NYSE:PFE), signaling a noteworthy trend among institutional investors in the biopharmaceutical sector. This strategic increase in holdings reflects a broader confidence in Pfizer’s market position and future outlook, drawing attention to the intricate movements within major investment portfolios.
According to its latest 13F filing with the Securities and Exchange Commission, Modera Wealth Management bolstered its stake in Pfizer by 7.1% during the first quarter. The firm acquired an additional 4,414 shares, bringing its total ownership to an impressive 66,850 shares of the company’s stock. As of its most recent SEC filing, Modera Wealth Management LLC’s Pfizer holdings were valued at approximately $1,694,000, underscoring a significant commitment.
Beyond Modera, numerous other institutional investors have also adjusted their positions in Pfizer. Northern Trust Corp, for instance, increased its Pfizer holdings by 7.7% in the fourth quarter, accumulating an additional 4,167,222 shares, bringing its total to 58,382,560 shares valued at over $1.5 billion. Similarly, UBS AM, a distinct business unit of UBS Asset Management Americas LLC, grew its Pfizer position by 3.5% in the same quarter, now owning 39,402,619 shares worth over $1 billion.
Further demonstrating this widespread institutional interest, Invesco Ltd. expanded its Pfizer stake by 9.6% during the fourth quarter, acquiring an additional 2,579,455 shares to reach a total of 29,458,139 shares valued at $781.5 million. Pacer Advisors Inc. made an even more substantial move, increasing its position by a remarkable 856.8% in the first quarter, adding 17,957,928 shares to hold 20,053,828 shares worth over $508 million. Federated Hermes Inc. also increased its Pfizer holdings by 22.2% in the first quarter, adding 3,201,087 shares for a total of 17,592,709 shares valued at $445.8 million.
Cumulatively, institutional investors now collectively own a significant 68.36% of Pfizer’s stock. This substantial institutional ownership highlights the company’s appeal among large-scale investment firms and indicates a strong level of confidence from professional money managers, which often serves as a key indicator for potential individual investors.
Pfizer’s stock has also been the subject of recent analytical scrutiny from various research firms. BMO Capital Markets adjusted its price target for Pfizer from $36.00 to $30.00, while UBS Group raised its target from $24.00 to $25.00, maintaining a “neutral” rating. HSBC reduced its price objective from $27.00 to $26.00 but retained a “buy” rating. Conversely, Jefferies Financial Group increased its objective from $32.00 to $33.00, affirming a “buy” rating. Redburn Atlantic also dropped its price objective from $29.00 to $27.00, setting a “neutral” rating, culminating in a consensus “Moderate Buy” rating and an average target price of $28.28 across various analyst reports.
Examining Pfizer’s market performance, shares opened at $23.27 on a recent Friday, reflecting current trading dynamics. The stock maintains a fifty-day simple moving average of $24.36 and a two-hundred-day simple moving average of $24.60, providing insight into its recent price trends. With a robust market capitalization of $132.30 billion, a price-to-earnings ratio of 16.86, and a beta of 0.58, the company demonstrates financial stability and market presence. Its 12-month low stands at $20.92, with a 12-month high of $31.32, illustrating its trading range over the past year.
Financially, Pfizer recently reported its quarterly earnings on a Tuesday, announcing $0.92 earnings per share (EPS), surpassing analysts’ consensus estimates of $0.67 by a notable $0.25. Despite this earnings beat, the company’s revenue for the quarter was $13.72 billion, slightly below analysts’ expectations of $14.43 billion, and represented a 7.8% decrease compared to the same quarter last year. Nevertheless, Pfizer exhibited a strong return on equity of 20.33% and a net margin of 12.62%, indicating efficient management and profitability. Analysts generally anticipate Pfizer Inc. to post 2.95 earnings per share for the current fiscal year, reflecting ongoing expectations for its financial performance.
Pfizer Inc. operates as a leading global biopharmaceutical company, specializing in the discovery, development, manufacturing, marketing, distribution, and sale of pharmaceutical products across the United States, Europe, and international markets. The company’s diverse portfolio includes medicines and vaccines targeting various therapeutic areas such as cardiovascular metabolic health, migraine, women’s health, infectious diseases, and COVID-19 prevention and treatment, featuring well-known brands like Eliquis, Prevnar family, and Comirnaty.
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