Brave Asset Management Inc. lessened its stake in Pfizer, Inc. (NYSE:PFE) by 7.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 71,888 shares of the biopharmaceutical company’s stock after selling 5,583 shares during the quarter. Pfizer comprises about 1.3% of Brave Asset Management Inc.’s investment portfolio, making the stock its 18th largest holding. Brave Asset Management Inc.’s holdings in Pfizer were worth $2,415,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Northstar Group Inc. grew its stake in Pfizer by 0.4% in the second quarter. Northstar Group Inc. now owns 8,602 shares of the biopharmaceutical company’s stock valued at $289,000 after acquiring an additional 35 shares during the period. River Wealth Advisors LLC grew its stake in Pfizer by 0.3% in the second quarter. River Wealth Advisors LLC now owns 15,818 shares of the biopharmaceutical company’s stock valued at $531,000 after acquiring an additional 55 shares during the period. Meridian Wealth Management LLC grew its stake in Pfizer by 0.5% in the second quarter. Meridian Wealth Management LLC now owns 11,966 shares of the biopharmaceutical company’s stock valued at $402,000 after acquiring an additional 57 shares during the period. Stone House Investment Management LLC grew its stake in Pfizer by 0.9% in the first quarter. Stone House Investment Management LLC now owns 7,164 shares of the biopharmaceutical company’s stock valued at $245,000 after acquiring an additional 66 shares during the period. Finally, Naples Global Advisors LLC grew its stake in Pfizer by 0.3% in the first quarter. Naples Global Advisors LLC now owns 24,552 shares of the biopharmaceutical company’s stock valued at $840,000 after acquiring an additional 79 shares during the period. Institutional investors and hedge funds own 69.10% of the company’s stock.
Shares of Pfizer, Inc. (PFE) traded down $0.02 during midday trading on Friday, hitting $35.18. The stock had a trading volume of 15,045,100 shares, compared to its average volume of 20,361,484. The company has a market capitalization of $209,816.89, a price-to-earnings ratio of 14.08, a P/E/G ratio of 2.49 and a beta of 1.01. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.06 and a current ratio of 1.34. Pfizer, Inc. has a one year low of $30.51 and a one year high of $36.78.
Pfizer (NYSE:PFE) last announced its earnings results on Tuesday, October 31st. The biopharmaceutical company reported $0.67 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.65 by $0.02. The company had revenue of $13.17 billion for the quarter, compared to analyst estimates of $13.17 billion. Pfizer had a return on equity of 25.67% and a net margin of 18.69%. The firm’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter last year, the company earned $0.61 earnings per share. research analysts predict that Pfizer, Inc. will post 2.59 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Friday, November 10th will be paid a dividend of $0.32 per share. The ex-dividend date of this dividend is Thursday, November 9th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.64%. Pfizer’s dividend payout ratio (DPR) is currently 79.01%.
PFE has been the subject of several recent research reports. Sanford C. Bernstein set a $39.00 price objective on Pfizer and gave the stock a “buy” rating in a research report on Monday, July 17th. BMO Capital Markets raised Pfizer from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $33.00 to $37.00 in a research report on Wednesday, August 2nd. UBS AG reaffirmed a “buy” rating and set a $38.00 price objective on shares of Pfizer in a research report on Monday, July 31st. ValuEngine raised Pfizer from a “hold” rating to a “buy” rating in a research report on Friday, October 6th. Finally, Zacks Investment Research cut Pfizer from a “buy” rating to a “hold” rating in a research report on Wednesday, October 11th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $38.48.
In other Pfizer news, CEO Ian C. Read sold 197,168 shares of the firm’s stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $34.00, for a total transaction of $6,703,712.00. Following the transaction, the chief executive officer now owns 580,318 shares in the company, valued at approximately $19,730,812. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Laurie J. Olson sold 8,064 shares of the firm’s stock in a transaction on Monday, August 21st. The stock was sold at an average price of $32.70, for a total value of $263,692.80. Following the transaction, the insider now owns 74,506 shares in the company, valued at approximately $2,436,346.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 374,621 shares of company stock worth $12,796,098. 0.06% of the stock is owned by corporate insiders.
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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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