Asset Dedication LLC raised its position in shares of Pfizer, Inc. (NYSE:PFE) by 1.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 27,687 shares of the biopharmaceutical company’s stock after buying an additional 394 shares during the period. Asset Dedication LLC’s holdings in Pfizer were worth $926,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in PFE. Asset Planning Services Ltd. increased its position in shares of Pfizer by 4.9% in the first quarter. Asset Planning Services Ltd. now owns 2,961 shares of the biopharmaceutical company’s stock valued at $101,000 after buying an additional 137 shares during the period. D. Scott Neal Inc. increased its position in 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 during the last quarter. Orrstown Financial Services Inc. increased its position in Pfizer by 23.0% in the first quarter. Orrstown Financial Services Inc. now owns 3,275 shares of the biopharmaceutical company’s stock valued at $112,000 after buying an additional 612 shares during the last quarter. Franklin Parlapiano Turner & Welch LLC bought a new position in Pfizer during the first quarter valued at about $121,000. Finally, Cascade Investment Advisors Inc. increased its position in 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 during the last quarter. Hedge funds and other institutional investors own 69.94% of the company’s stock.
Shares of Pfizer, Inc. (PFE) traded down 0.85% during mid-day trading on Friday, reaching $32.67. 15,490,145 shares of the company’s stock were exchanged. The company has a market cap of $194.30 billion, a PE ratio of 23.90 and a beta of 1.00. The company’s 50-day moving average price is $33.30 and its 200 day moving average price is $33.38. Pfizer, Inc. has a 52-week low of $29.83 and a 52-week high of $35.38.
Pfizer (NYSE:PFE) last announced its earnings results on Tuesday, August 1st. The biopharmaceutical company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.02. The business had revenue of $12.90 billion for the quarter, compared to analysts’ expectations of $13.08 billion. Pfizer had a return on equity of 24.51% and a net margin of 15.84%. The business’s revenue for the quarter was down 1.9% on a year-over-year basis. During the same period last year, the firm posted $0.64 earnings per share. On average, equities research analysts predict that Pfizer, Inc. will post $2.56 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 4th will be given a $0.32 dividend. The ex-dividend date of this dividend is Wednesday, August 2nd. This represents a $1.28 annualized dividend and a yield of 3.92%. Pfizer’s payout ratio is 94.12%.
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Several brokerages have recently weighed in on PFE. Jefferies Group LLC set a $35.00 target price on shares of Pfizer and gave the company a “neutral” rating in a research report on Wednesday, August 2nd. Morgan Stanley reiterated a “neutral” rating and set a $35.00 target price (down from $38.00) on shares of Pfizer in a research report on Monday, June 12th. Berenberg Bank set a $39.00 price target on shares of Pfizer and gave the company a “neutral” rating in a research report on Tuesday, August 1st. Citigroup Inc. lowered shares of Pfizer from a “neutral” rating to a “sell” rating and reduced their price target for the company from $38.00 to $31.00 in a research report on Tuesday, May 16th. Finally, BMO Capital Markets restated a “hold” rating and issued a $33.00 price target on shares of Pfizer in a research report on Thursday, April 27th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and ten have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $37.61.
In other news, CEO Ian C. Read sold 96,950 shares of Pfizer stock in a transaction dated 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 legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Alexander R. Mackenzie sold 15,000 shares of Pfizer stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $33.50, for a total value of $502,500.00. Following the transaction, the insider now directly owns 151,474 shares in the company, valued at $5,074,379. The disclosure for this sale can be found here. Company insiders own 0.06% of the company’s stock.
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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