1ST Source Bank Reduces Position in Pfizer Inc. (PFE)

1ST Source Bank lowered its position in shares of Pfizer Inc. (NYSE:PFE) by 4.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 151,375 shares of the biopharmaceutical company’s stock after selling 6,956 shares during the quarter. 1ST Source Bank’s holdings in Pfizer were worth $5,404,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Janus Henderson Group PLC boosted its position in shares of Pfizer by 243.5% during the 2nd quarter. Janus Henderson Group PLC now owns 13,175,187 shares of the biopharmaceutical company’s stock worth $442,574,000 after purchasing an additional 9,339,749 shares in the last quarter. Vanguard Group Inc. lifted its position in Pfizer by 2.3% in the 2nd quarter. Vanguard Group Inc. now owns 418,639,111 shares of the biopharmaceutical company’s stock valued at $14,062,088,000 after acquiring an additional 9,239,499 shares in the last quarter. Renaissance Technologies LLC bought a new position in Pfizer in the 2nd quarter valued at about $268,389,000. Canada Pension Plan Investment Board lifted its position in Pfizer by 249.6% in the 2nd quarter. Canada Pension Plan Investment Board now owns 10,713,626 shares of the biopharmaceutical company’s stock valued at $359,871,000 after acquiring an additional 7,649,416 shares in the last quarter. Finally, Parametric Portfolio Associates LLC lifted its position in Pfizer by 42.1% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 17,818,368 shares of the biopharmaceutical company’s stock valued at $598,519,000 after acquiring an additional 5,281,314 shares in the last quarter. 69.74% of the stock is currently owned by institutional investors and hedge funds.

In other Pfizer news, insider Alexander R. Mackenzie sold 14,700 shares of the business’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $35.30, for a total value of $518,910.00. Following the transaction, the insider now owns 117,432 shares in the company, valued at $4,145,349.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Rady A. Johnson sold 8,000 shares of the business’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $37.07, for a total transaction of $296,560.00. Following the completion of the transaction, the executive vice president now owns 46,963 shares in the company, valued at approximately $1,740,918.41. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,450 shares of company stock worth $1,065,220. 0.06% of the stock is owned by corporate insiders.

Shares of Pfizer Inc. (NYSE PFE) opened at $36.56 on Friday. Pfizer Inc. has a fifty-two week low of $30.90 and a fifty-two week high of $37.35. The company has a current ratio of 1.43, a quick ratio of 1.15 and a debt-to-equity ratio of 0.56. The stock has a market cap of $217,920.00, a price-to-earnings ratio of 22.43, a PEG ratio of 2.46 and a beta of 1.01.

Pfizer (NYSE:PFE) last posted its quarterly earnings data on Tuesday, October 31st. The biopharmaceutical company reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.02. Pfizer had a net margin of 18.69% and a return on equity of 25.41%. The company had revenue of $13.17 billion during the quarter, compared to the consensus estimate of $13.17 billion. During the same period in the previous year, the firm posted $0.61 EPS. The firm’s revenue was up .9% compared to the same quarter last year. research analysts predict that Pfizer Inc. will post 2.59 earnings per share for the current fiscal year.

Pfizer declared that its Board of Directors has initiated a stock repurchase plan on Monday, December 18th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the biopharmaceutical company to reacquire shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Friday, February 2nd will be issued a dividend of $0.34 per share. This is an increase from Pfizer’s previous quarterly dividend of $0.32. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.72%. The ex-dividend date of this dividend is Thursday, February 1st. Pfizer’s payout ratio is currently 78.53%.

Several equities analysts recently weighed in on the stock. ValuEngine raised shares of Pfizer from a “hold” rating to a “buy” rating in a research report on Friday, October 6th. JPMorgan Chase & Co. set a $39.00 price objective on shares of Pfizer and gave the company a “buy” rating in a research note on Wednesday, November 1st. Jefferies Group set a $39.00 price objective on shares of Pfizer and gave the company a “neutral” rating in a research note on Thursday, November 16th. Nord/LB reiterated a “neutral” rating on shares of Pfizer in a research note on Tuesday, January 2nd. Finally, Morgan Stanley set a $41.00 price objective on shares of Pfizer and gave the company a “buy” rating in a research note on Friday, January 5th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the stock. Pfizer currently has a consensus rating of “Buy” and an average target price of $38.83.

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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).

Institutional Ownership by Quarter for Pfizer (NYSE:PFE)

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