Argent Trust Co significantly bolstered its position in Pfizer Inc. (NYSE:PFE) during the first quarter, reflecting a notable increase in institutional confidence towards the biopharmaceutical giant.
According to its latest Form 13F filing with the Securities and Exchange Commission (SEC), Argent Trust Co expanded its stake in Pfizer by 3.1%, acquiring an additional 7,235 shares. This strategic move brought their total holdings to an impressive 239,359 shares of the prominent biopharmaceutical company’s stock.
As of their most recent SEC filing, Argent Trust Co’s substantial investment in Pfizer was valued at $6,065,000, underscoring the trust fund’s continued commitment to the pharmaceutical sector and its belief in Pfizer’s market trajectory.
Beyond Argent Trust Co, several other institutional investors and hedge funds have actively adjusted their portfolios concerning PFE shares. Notably, Brighton Jones LLC dramatically increased its position by 1,282.4% in the fourth quarter, now holding 666,318 shares valued at $17,677,000. Other firms like Revolve Wealth Partners LLC, World Investment Advisors, and Pioneer Trust Bank N A OR also reported significant increases in their Pfizer holdings, alongside Resona Asset Management Co. Ltd. acquiring a new, substantial stake.
Collectively, institutional investors maintain a dominant presence in Pfizer, currently owning 68.36% of the company’s stock, a clear indicator of sustained professional interest and investment in the biopharmaceutical firm.
Research analysts have also recently provided updated assessments of PFE shares, offering a mixed yet generally positive outlook. While firms such as Bank of America and Jefferies Financial Group raised their target prices, assigning “neutral” and “buy” ratings respectively, others like Leerink Partners and BMO Capital Markets adjusted their targets downwards, though still maintaining “market perform” or similar ratings. Morgan Stanley also raised its target price while keeping an “equal weight” rating.
Despite varying individual reports, the consensus among research analysts, as compiled by MarketBeat.com, points to a “Moderate Buy” rating for Pfizer, with an average consensus price target of $28.28, suggesting a generally optimistic sentiment regarding the stock’s future performance.
On the market, Pfizer Inc. recently traded at $23.49, with a robust market capitalization of $133.55 billion. The company exhibits a price-to-earnings ratio of 17.02, a PEG ratio of 0.85, and a beta of 0.52, reflecting its current valuation and market volatility. Furthermore, Pfizer’s financial health is evidenced by a quick ratio of 0.96, a current ratio of 1.26, and a debt-to-equity ratio of 0.64, alongside its 50-day and 200-day moving averages.
Pfizer Inc. stands as a global biopharmaceutical leader, dedicated to discovering, developing, manufacturing, marketing, and distributing pharmaceutical products across the United States, Europe, and internationally. Its extensive product portfolio spans critical therapeutic areas, including cardiovascular metabolic, migraine, women’s health, infectious diseases, and groundbreaking COVID-19 prevention and treatment solutions, marketed under well-recognized brands such as Eliquis, Prevnar family, Comirnaty, and Paxlovid, among others, solidifying its position as a key innovator in global health.
