Private Asset Management Inc. cut its stake in Pfizer Inc. (NYSE:PFE) by 1.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 494,822 shares of the biopharmaceutical company’s stock after selling 6,530 shares during the period. Pfizer accounts for about 2.9% of Private Asset Management Inc.’s portfolio, making the stock its 5th largest position. Private Asset Management Inc.’s holdings in Pfizer were worth $17,922,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Peregrine Asset Advisers Inc. lifted its position in Pfizer by 0.5% in the second quarter. Peregrine Asset Advisers Inc. now owns 7,354 shares of the biopharmaceutical company’s stock valued at $247,000 after buying an additional 35 shares during the last quarter. Northwest Quadrant Wealth Management LLC lifted its position in shares of Pfizer by 0.8% during the second quarter. Northwest Quadrant Wealth Management LLC now owns 6,329 shares of the biopharmaceutical company’s stock worth $211,000 after purchasing an additional 50 shares in the last quarter. Stone House Investment Management LLC lifted its position in shares of Pfizer by 1.0% during the second quarter. Stone House Investment Management LLC now owns 7,236 shares of the biopharmaceutical company’s stock worth $243,000 after purchasing an additional 72 shares in the last quarter. Highland Private Wealth Management lifted its position in shares of Pfizer by 0.8% during the second quarter. Highland Private Wealth Management now owns 9,047 shares of the biopharmaceutical company’s stock worth $304,000 after purchasing an additional 76 shares in the last quarter. Finally, Autus Asset Management LLC lifted its position in shares of Pfizer by 1.2% during the second quarter. Autus Asset Management LLC now owns 6,681 shares of the biopharmaceutical company’s stock worth $225,000 after purchasing an additional 78 shares in the last quarter. Institutional investors and hedge funds own 71.41% of the company’s stock.
In related news, Director W Don Cornwell sold 1,758 shares of the company’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $36.79, for a total transaction of $64,676.82. Following the transaction, the director now directly owns 1,000 shares of the company’s stock, valued at $36,790. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Alexander R. Mackenzie sold 6,750 shares of the company’s stock in a transaction on Friday, December 15th. The shares were sold at an average price of $37.00, for a total value of $249,750.00. Following the transaction, the insider now directly owns 103,458 shares in the company, valued at $3,827,946. The disclosure for this sale can be found here. In the last 90 days, insiders sold 185,464 shares of company stock valued at $6,767,939. Insiders own 0.06% of the company’s stock.
PFE has been the topic of a number of recent research reports. Jefferies Group set a $39.00 target price on shares of Pfizer and gave the stock a “neutral” rating in a research note on Thursday, November 16th. Vetr upgraded shares of Pfizer from a “hold” rating to a “buy” rating and set a $38.82 target price on the stock in a research report on Thursday, November 23rd. BMO Capital Markets set a $39.00 target price on shares of Pfizer and gave the stock a “buy” rating in a research report on Saturday, November 25th. Deutsche Bank set a $38.00 price target on Pfizer and gave the stock a “buy” rating in a report on Wednesday, December 6th. Finally, UBS Group set a $40.00 price target on Pfizer and gave the stock a “buy” rating in a report on Wednesday, December 6th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. Pfizer has an average rating of “Hold” and an average price target of $39.40.
Shares of Pfizer Inc. (PFE) traded down $0.43 during midday trading on Wednesday, hitting $36.32. The stock had a trading volume of 13,168,146 shares, compared to its average volume of 24,983,600. The company has a market cap of $216,030.00, a P/E ratio of 20.75, a price-to-earnings-growth ratio of 2.06 and a beta of 0.91. The company has a quick ratio of 1.10, a current ratio of 1.35 and a debt-to-equity ratio of 0.47. Pfizer Inc. has a 1-year low of $31.67 and a 1-year high of $39.43.
Pfizer (NYSE:PFE) last announced its quarterly earnings results on Tuesday, January 30th. The biopharmaceutical company reported $0.62 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.06. The company had revenue of $13.70 billion during the quarter, compared to analyst estimates of $13.67 billion. Pfizer had a return on equity of 25.21% and a net margin of 40.55%. The firm’s quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.47 EPS. research analysts forecast that Pfizer Inc. will post 2.95 EPS for the current year.
Pfizer announced that its Board of Directors has authorized a stock repurchase plan on Monday, December 18th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the biopharmaceutical company to reacquire shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 1st. Stockholders of record on Friday, February 2nd were issued a $0.34 dividend. This is a positive change from Pfizer’s previous quarterly dividend of $0.32. The ex-dividend date was Thursday, February 1st. This represents a $1.36 annualized dividend and a dividend yield of 3.74%. Pfizer’s dividend payout ratio is 77.71%.
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Pfizer Company Profile
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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