Great West Life Assurance Co. Can Trims Position in Pfizer Inc. (PFE)

Great West Life Assurance Co. Can lowered its stake in Pfizer Inc. (NYSE:PFE) by 2.8% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,125,498 shares of the biopharmaceutical company’s stock after selling 204,004 shares during the quarter. Pfizer comprises approximately 0.6% of Great West Life Assurance Co. Can’s holdings, making the stock its 29th largest holding. Great West Life Assurance Co. Can owned 0.12% of Pfizer worth $239,044,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in PFE. Boston Partners lifted its stake in Pfizer by 7.3% in the 1st quarter. Boston Partners now owns 24,263,989 shares of the biopharmaceutical company’s stock worth $830,071,000 after purchasing an additional 1,649,801 shares in the last quarter. Sanders Capital LLC lifted its stake in Pfizer by 10.8% in the 2nd quarter. Sanders Capital LLC now owns 16,933,077 shares of the biopharmaceutical company’s stock worth $626,222,000 after purchasing an additional 1,644,036 shares in the last quarter. Bank of Nova Scotia lifted its stake in Pfizer by 325.9% in the 1st quarter. Bank of Nova Scotia now owns 1,934,514 shares of the biopharmaceutical company’s stock worth $66,180,000 after purchasing an additional 1,480,258 shares in the last quarter. Fisher Asset Management LLC lifted its stake in Pfizer by 3.9% in the 2nd quarter. Fisher Asset Management LLC now owns 34,035,362 shares of the biopharmaceutical company’s stock worth $1,143,248,000 after purchasing an additional 1,275,832 shares in the last quarter. Finally, Longview Partners Guernsey LTD increased its holdings in shares of Pfizer by 6.9% in the 2nd quarter. Longview Partners Guernsey LTD now owns 18,468,572 shares of the biopharmaceutical company’s stock worth $620,359,000 after buying an additional 1,189,059 shares during the last quarter. Institutional investors and hedge funds own 69.00% of the company’s stock.

In related news, CEO Ian C. Read sold 96,950 shares of Pfizer stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $34.00, for a total value of $3,296,300.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ian C. Read sold 197,168 shares of Pfizer stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $34.00, for a total transaction of $6,703,712.00. Following the completion of the transaction, the chief executive officer now owns 580,318 shares of the company’s stock, valued at approximately $19,730,812. The disclosure for this sale can be found here. Insiders sold 464,521 shares of company stock valued at $15,813,961 in the last 90 days. Company insiders own 0.06% of the company’s stock.

A number of analysts have recently weighed in on PFE shares. Sanford C. Bernstein set a $39.00 target price on shares of Pfizer and gave the stock a “buy” rating in a report on Monday, July 17th. BMO Capital Markets upgraded shares of Pfizer from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $33.00 to $37.00 in a report on Wednesday, August 2nd. UBS AG restated a “buy” rating and issued a $38.00 target price on shares of Pfizer in a report on Monday, July 31st. ValuEngine upgraded shares of Pfizer from a “hold” rating to a “buy” rating in a report on Friday, October 6th. Finally, Zacks Investment Research downgraded shares of Pfizer from a “buy” rating to a “hold” rating in a report on Wednesday, October 11th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $38.32.

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Shares of Pfizer Inc. (NYSE:PFE) opened at 35.60 on Friday. The stock has a market cap of $211.73 billion, a PE ratio of 26.04 and a beta of 1.00. Pfizer Inc. has a 12 month low of $29.83 and a 12 month high of $36.78. The stock has a 50 day moving average of $35.72 and a 200 day moving average of $33.87.

Pfizer (NYSE:PFE) last announced its quarterly earnings data on Tuesday, August 1st. The biopharmaceutical company reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.02. The firm had revenue of $12.90 billion during the quarter, compared to analysts’ expectations of $13.08 billion. Pfizer had a net margin of 23.85% and a return on equity of 21.10%. The business’s quarterly revenue was down 1.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.64 earnings per share. On average, equities analysts anticipate that Pfizer Inc. will post $2.56 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Friday, November 10th will be issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.60%. The ex-dividend date is Thursday, November 9th. Pfizer’s dividend payout ratio (DPR) is currently 94.12%.

Pfizer 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).

Institutional Ownership by Quarter for Pfizer (NYSE:PFE)

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