Pictet Asset Management Ltd. reduced its stake in Pfizer, Inc. (NYSE:PFE) by 14.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,161,462 shares of the biopharmaceutical company’s stock after selling 896,267 shares during the period. Pictet Asset Management Ltd. owned 0.09% of Pfizer worth $176,573,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also modified their holdings of the company. Davy Asset Management Ltd raised its stake in shares of Pfizer by 0.5% in the fourth quarter. Davy Asset Management Ltd now owns 429,635 shares of the biopharmaceutical company’s stock valued at $16,017,000 after buying an additional 2,124 shares during the period. Envestnet Asset Management Inc. raised its stake in shares of Pfizer by 12.2% in the fourth quarter. Envestnet Asset Management Inc. now owns 1,031,498 shares of the biopharmaceutical company’s stock valued at $33,500,000 after buying an additional 112,465 shares during the period. Tyers Asset Management LLC acquired a new stake in shares of Pfizer during the fourth quarter valued at about $4,228,000. Menta Capital LLC raised its position in Pfizer by 16.3% in the fourth quarter. Menta Capital LLC now owns 151,316 shares of the biopharmaceutical company’s stock worth $4,915,000 after buying an additional 21,200 shares during the last quarter. Finally, Parallel Advisors LLC purchased a new position in Pfizer during the fourth quarter worth $1,351,000. 69.94% of the stock is owned by institutional investors.
Pfizer, Inc. (NYSE:PFE) opened at 32.67 on Friday. Pfizer, Inc. has a 52-week low of $29.83 and a 52-week high of $35.38. The firm’s 50-day moving average is $33.30 and its 200-day moving average is $33.38. The stock has a market capitalization of $194.30 billion, a price-to-earnings ratio of 23.90 and a beta of 1.00.
Pfizer (NYSE:PFE) last issued its quarterly earnings results on Tuesday, August 1st. The biopharmaceutical company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.02. Pfizer had a return on equity of 24.51% and a net margin of 15.84%. The firm had revenue of $12.90 billion for the quarter, compared to analyst estimates of $13.08 billion. During the same period in the previous year, the company posted $0.64 earnings per share. The company’s quarterly revenue was down 1.9% compared to the same quarter last year. Analysts predict that Pfizer, Inc. will post $2.56 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Friday, August 4th will be paid a $0.32 dividend. The ex-dividend date of this dividend is Wednesday, August 2nd. This represents a $1.28 annualized dividend and a dividend yield of 3.92%. Pfizer’s dividend payout ratio is currently 94.12%.
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A number of equities analysts have weighed in on the stock. Berenberg Bank reiterated a “hold” rating and issued a $36.00 price target (down from $39.00) on shares of Pfizer in a research report on Tuesday. Jefferies Group LLC reiterated a “hold” rating and issued a $35.00 price target on shares of Pfizer in a research report on Friday. Cowen and Company set a $43.00 target price on shares of Pfizer and gave the stock a “buy” rating in a report on Monday, August 14th. BidaskClub raised shares of Pfizer from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 5th. Finally, UBS AG reaffirmed a “buy” rating and set a $38.00 price target on shares of Pfizer in a research note on Monday, July 31st. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and ten have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $37.61.
In related news, CEO Ian C. Read sold 96,950 shares of the stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $34.00, for a total transaction of $3,296,300.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Alexander R. Mackenzie sold 15,000 shares of the stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $33.50, for a total value of $502,500.00. Following the sale, the insider now owns 151,474 shares in the company, valued at $5,074,379. The disclosure for this sale can be found here. Corporate insiders own 0.06% of the company’s stock.
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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