CIBC Private Wealth Group LLC Sells 421,571 Shares of Pfizer Inc. $PFE

CIBC Private Wealth Group LLC lowered its holdings in shares of Pfizer Inc. (NYSE:PFEFree Report) by 46.6% during the third quarter, HoldingsChannel reports. The firm owned 483,199 shares of the biopharmaceutical company’s stock after selling 421,571 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Pfizer were worth $12,312,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of PFE. Grey Fox Wealth Advisors LLC bought a new stake in Pfizer during the 3rd quarter worth approximately $29,000. Howard Hughes Medical Institute bought a new position in Pfizer in the second quarter valued at approximately $30,000. Darwin Wealth Management LLC acquired a new position in shares of Pfizer in the second quarter valued at approximately $32,000. Evelyn Partners Asset Management Ltd acquired a new position in shares of Pfizer in the second quarter valued at approximately $33,000. Finally, True Wealth Design LLC increased its position in shares of Pfizer by 302.5% during the third quarter. True Wealth Design LLC now owns 1,296 shares of the biopharmaceutical company’s stock worth $33,000 after acquiring an additional 974 shares in the last quarter. Institutional investors own 68.36% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on PFE shares. Argus raised shares of Pfizer from a “hold” rating to a “buy” rating and set a $35.00 price objective on the stock in a research report on Monday, March 2nd. Daiwa Securities Group cut Pfizer from an “outperform” rating to a “neutral” rating and set a $27.00 target price for the company. in a report on Thursday, February 12th. Guggenheim restated a “buy” rating on shares of Pfizer in a report on Wednesday, December 17th. Wolfe Research set a $24.00 price objective on Pfizer and gave the stock an “underperform” rating in a research report on Wednesday, December 17th. Finally, Bank of America decreased their price objective on Pfizer from $29.00 to $28.00 and set a “neutral” rating for the company in a report on Monday, December 15th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, thirteen have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $28.14.

Read Our Latest Report on Pfizer

Key Pfizer News

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Pfizer Price Performance

NYSE:PFE opened at $27.40 on Friday. Pfizer Inc. has a 12-month low of $20.92 and a 12-month high of $27.94. The firm has a market capitalization of $155.78 billion, a price-to-earnings ratio of 20.14 and a beta of 0.47. The stock’s 50 day moving average price is $26.65 and its two-hundred day moving average price is $25.59. The company has a quick ratio of 0.87, a current ratio of 1.16 and a debt-to-equity ratio of 0.71.

Pfizer (NYSE:PFEGet Free Report) last issued its earnings results on Tuesday, February 3rd. The biopharmaceutical company reported $0.66 EPS for the quarter, topping the consensus estimate of $0.57 by $0.09. The company had revenue of $17.56 billion during the quarter, compared to the consensus estimate of $16.93 billion. Pfizer had a return on equity of 20.48% and a net margin of 12.42%.The firm’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.63 EPS. On average, analysts anticipate that Pfizer Inc. will post 2.95 earnings per share for the current year.

About Pfizer

(Free Report)

Pfizer Inc (NYSE: PFE) is a multinational biopharmaceutical company headquartered in New York City. Founded in 1849 by Charles Pfizer and Charles Erhart, the company researches, develops, manufactures and commercializes a broad range of medicines and vaccines for human health. Its activities span discovery research, clinical development, regulatory affairs, manufacturing and global commercial distribution across multiple therapeutic areas.

Pfizer’s portfolio and pipeline cover oncology, immunology, cardiology, endocrinology, rare diseases, hospital acute care and anti-infectives, along with a substantial vaccine business.

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Institutional Ownership by Quarter for Pfizer (NYSE:PFE)

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