Westchester Capital Management Inc. raised its stake in Pfizer, Inc. (NYSE:PFE) by 11.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 200,269 shares of the biopharmaceutical company’s stock after purchasing an additional 20,762 shares during the quarter. Pfizer accounts for 3.1% of Westchester Capital Management Inc.’s investment portfolio, making the stock its 23rd biggest holding. Westchester Capital Management Inc.’s holdings in Pfizer were worth $6,727,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently made changes to their positions in PFE. Shine Investment Advisory Services Inc. purchased a new stake in shares of Pfizer in the second quarter valued at approximately $102,000. D. Scott Neal Inc. boosted its stake in shares of Pfizer by 19.3% in the second quarter. D. Scott Neal Inc. now owns 3,112 shares of the biopharmaceutical company’s stock valued at $105,000 after buying an additional 504 shares in the last quarter. Franklin Parlapiano Turner & Welch LLC purchased a new stake in shares of Pfizer in the first quarter valued at approximately $121,000. Cascade Investment Advisors Inc. boosted its stake in shares of Pfizer by 89.1% in the second quarter. Cascade Investment Advisors Inc. now owns 4,669 shares of the biopharmaceutical company’s stock valued at $157,000 after buying an additional 2,200 shares in the last quarter. Finally, Perennial Advisors LLC boosted its stake in shares of Pfizer by 7.9% in the second quarter. Perennial Advisors LLC now owns 5,132 shares of the biopharmaceutical company’s stock valued at $172,000 after buying an additional 376 shares in the last quarter. Institutional investors own 69.36% of the company’s stock.
Shares of Pfizer, Inc. (NYSE:PFE) opened at $35.38 on Wednesday. Pfizer, Inc. has a 1 year low of $30.51 and a 1 year high of $36.78. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.15 and a current ratio of 1.43. The stock has a market capitalization of $210,412.95, a PE ratio of 14.12, a price-to-earnings-growth ratio of 2.50 and a beta of 1.01.
Pfizer (NYSE:PFE) last posted its quarterly earnings results on Tuesday, October 31st. The biopharmaceutical company reported $0.67 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.02. Pfizer had a return on equity of 25.41% and a net margin of 18.69%. The firm had revenue of $13.17 billion during the quarter, compared to the consensus estimate of $13.17 billion. During the same quarter in the previous year, the business earned $0.61 earnings per share. The firm’s quarterly revenue was up .9% compared to the same quarter last year. equities research analysts forecast that Pfizer, Inc. will post 2.6 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Friday, November 10th will be given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 3.62%. The ex-dividend date is Thursday, November 9th. Pfizer’s dividend payout ratio (DPR) is presently 79.01%.
A number of analysts recently weighed in on the company. Deutsche Bank AG set a $38.00 price target on Pfizer and gave the company a “buy” rating in a research note on Wednesday, October 11th. BMO Capital Markets set a $37.00 price target on Pfizer and gave the company a “buy” rating in a research note on Tuesday, October 10th. Barclays PLC set a $38.00 price objective on Pfizer and gave the stock a “buy” rating in a report on Wednesday, October 11th. Zacks Investment Research cut Pfizer from a “buy” rating to a “hold” rating in a report on Wednesday, October 11th. Finally, Jefferies Group LLC set a $38.00 price objective on Pfizer and gave the stock a “neutral” rating in a report on Monday, October 16th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $38.48.
In other Pfizer news, insider Sally Susman sold 38,230 shares of the business’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $35.00, for a total transaction of $1,338,050.00. Following the completion of the sale, the insider now owns 145,649 shares of the company’s stock, valued at $5,097,715. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Alexander R. Mackenzie sold 14,700 shares of the business’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $35.30, for a total value of $518,910.00. Following the sale, the insider now directly owns 117,432 shares of the company’s stock, valued at approximately $4,145,349.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 374,621 shares of company stock valued at $12,796,098. 0.06% of the stock is owned by company insiders.
Pfizer Inc (Pfizer) is a research-based global biopharmaceutical company. The Company is engaged in the discovery, development and manufacture of healthcare products. Its global portfolio includes medicines and vaccines, as well as consumer healthcare products. The Company manages its commercial operations through two business segments: Pfizer Innovative Health (IH) and Pfizer Essential Health (EH).
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