Ingalls & Snyder LLC reduced its position in shares of Pfizer Inc. (NYSE:PFE) by 24.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 622,901 shares of the biopharmaceutical company’s stock after selling 205,415 shares during the period. Pfizer accounts for approximately 1.2% of Ingalls & Snyder LLC’s portfolio, making the stock its 19th largest position. Ingalls & Snyder LLC’s holdings in Pfizer were worth $22,238,000 at the end of the most recent quarter.
Several other institutional investors have also recently bought and sold shares of the company. Janus Henderson Group PLC lifted its holdings in Pfizer by 243.5% in the second quarter. Janus Henderson Group PLC now owns 13,175,187 shares of the biopharmaceutical company’s stock worth $442,574,000 after buying an additional 9,339,749 shares during the period. Vanguard Group Inc. lifted its holdings in Pfizer by 2.3% in the second quarter. Vanguard Group Inc. now owns 418,639,111 shares of the biopharmaceutical company’s stock worth $14,062,088,000 after buying an additional 9,239,499 shares during the period. Renaissance Technologies LLC purchased a new stake in Pfizer in the second quarter worth about $268,389,000. Canada Pension Plan Investment Board lifted its holdings in Pfizer by 249.6% in the second quarter. Canada Pension Plan Investment Board now owns 10,713,626 shares of the biopharmaceutical company’s stock worth $359,871,000 after buying an additional 7,649,416 shares during the period. Finally, Parametric Portfolio Associates LLC lifted its holdings in Pfizer by 42.1% in the second quarter. Parametric Portfolio Associates LLC now owns 17,818,368 shares of the biopharmaceutical company’s stock worth $598,519,000 after buying an additional 5,281,314 shares during the period. Institutional investors own 69.74% of the company’s stock.
Shares of Pfizer Inc. (NYSE PFE) traded up $0.09 on Thursday, hitting $36.56. 14,330,000 shares of the company traded hands, compared to its average volume of 15,770,000. The company has a market capitalization of $217,920.00, a P/E ratio of 22.43, a P/E/G ratio of 2.46 and a beta of 1.01. The company has a quick ratio of 1.15, a current ratio of 1.43 and a debt-to-equity ratio of 0.56. Pfizer Inc. has a 12 month low of $30.90 and a 12 month high of $37.35.
Pfizer (NYSE:PFE) last announced its quarterly earnings results on Tuesday, October 31st. The biopharmaceutical company reported $0.67 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.02. The company had revenue of $13.17 billion during the quarter, compared to the consensus estimate of $13.17 billion. Pfizer had a net margin of 18.69% and a return on equity of 25.41%. The firm’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.61 earnings per share. equities analysts predict that Pfizer Inc. will post 2.59 earnings per share for the current fiscal year.
Pfizer announced that its board has approved a share repurchase program on Monday, December 18th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the biopharmaceutical company to buy shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Friday, February 2nd will be given a dividend of $0.34 per share. The ex-dividend date is Thursday, February 1st. This represents a $1.36 annualized dividend and a dividend yield of 3.72%. This is an increase from Pfizer’s previous quarterly dividend of $0.32. Pfizer’s dividend payout ratio (DPR) is 78.53%.
In other Pfizer news, EVP Rady A. Johnson sold 8,000 shares of Pfizer stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $37.07, for a total value of $296,560.00. Following the completion of the sale, the executive vice president now owns 46,963 shares of the company’s stock, valued at approximately $1,740,918.41. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Alexander R. Mackenzie sold 6,750 shares of Pfizer stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $37.00, for a total transaction of $249,750.00. Following the completion of the sale, the insider now directly owns 103,458 shares of the company’s stock, valued at approximately $3,827,946. The disclosure for this sale can be found here. Insiders have sold 29,450 shares of company stock valued at $1,065,220 in the last three months. 0.06% of the stock is owned by insiders.
Several brokerages have commented on PFE. Zacks Investment Research upgraded shares of Pfizer from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a report on Tuesday, October 3rd. Vetr lowered shares of Pfizer from a “buy” rating to a “hold” rating and set a $35.71 target price for the company. in a report on Wednesday, September 13th. BMO Capital Markets set a $39.00 target price on shares of Pfizer and gave the company a “buy” rating in a report on Tuesday, October 31st. Sanford C. Bernstein set a $39.00 target price on shares of Pfizer and gave the company a “buy” rating in a report on Tuesday, September 19th. Finally, Deutsche Bank set a $38.00 target price on shares of Pfizer and gave the company a “buy” rating in a report on Wednesday, December 6th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the company’s stock. Pfizer currently has a consensus rating of “Buy” and an average price target of $38.83.
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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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