First Merchants Corp raised its stake in shares of Pfizer Inc. (NYSE:PFE) by 20.0% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 94,354 shares of the biopharmaceutical company’s stock after purchasing an additional 15,741 shares during the period. First Merchants Corp’s holdings in Pfizer were worth $3,369,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. HL Financial Services LLC increased its position in Pfizer by 1.1% during the second quarter. HL Financial Services LLC now owns 3,222,985 shares of the biopharmaceutical company’s stock worth $108,260,000 after purchasing an additional 35,744 shares during the last quarter. Hartford Financial Management Inc. increased its position in Pfizer by 10.8% during the second quarter. Hartford Financial Management Inc. now owns 8,538 shares of the biopharmaceutical company’s stock worth $286,000 after purchasing an additional 835 shares during the last quarter. Cadence Bank NA increased its position in Pfizer by 1.4% during the second quarter. Cadence Bank NA now owns 99,962 shares of the biopharmaceutical company’s stock worth $3,358,000 after purchasing an additional 1,428 shares during the last quarter. Majedie Asset Management Ltd increased its position in Pfizer by 7.9% during the second quarter. Majedie Asset Management Ltd now owns 336,991 shares of the biopharmaceutical company’s stock worth $11,320,000 after purchasing an additional 24,531 shares during the last quarter. Finally, Stanley Laman Group Ltd. increased its position in Pfizer by 373.7% during the second quarter. Stanley Laman Group Ltd. now owns 114,284 shares of the biopharmaceutical company’s stock worth $3,839,000 after purchasing an additional 90,160 shares during the last quarter. 69.74% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts recently commented on PFE shares. UBS Group set a $40.00 price target on shares of Pfizer and gave the stock a “buy” rating in a research report on Wednesday, December 6th. BMO Capital Markets reiterated a “buy” rating and set a $39.00 price objective on shares of Pfizer in a research note on Friday, November 10th. Vetr upgraded shares of Pfizer from a “hold” rating to a “buy” rating and set a $38.82 price objective for the company in a research note on Thursday, November 23rd. 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 research note on Tuesday, October 3rd. Finally, Jefferies Group set a $39.00 price objective on shares of Pfizer and gave the stock a “neutral” rating in a research note on Thursday, November 16th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have assigned a buy rating to the stock. Pfizer currently has a consensus rating of “Hold” and an average target price of $38.83.
Pfizer Inc. (NYSE PFE) opened at $36.54 on Friday. The firm has a market cap of $217,800.00, a price-to-earnings ratio of 22.42, a PEG 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 52 week low of $30.90 and a 52 week high of $37.35.
Pfizer (NYSE:PFE) last announced its earnings results on Tuesday, October 31st. The biopharmaceutical company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.02. The business 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 business’s quarterly revenue was up .9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.61 earnings per share. analysts anticipate that Pfizer Inc. will post 2.59 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Friday, February 2nd will be paid a $0.34 dividend. The ex-dividend date of this dividend is Thursday, February 1st. This is an increase from Pfizer’s previous quarterly dividend of $0.32. This represents a $1.36 annualized dividend and a dividend yield of 3.72%. Pfizer’s dividend payout ratio is 78.53%.
Pfizer declared that its Board of Directors has authorized a stock repurchase plan on Monday, December 18th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the biopharmaceutical company to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.
In other news, insider Alexander R. Mackenzie sold 6,750 shares of the company’s stock in a transaction on Friday, December 15th. The shares were sold at an average price of $37.00, for a total value of $249,750.00. Following the completion of the transaction, the insider now directly owns 103,458 shares in the company, valued at $3,827,946. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Alexander R. Mackenzie sold 14,700 shares of the company’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $35.30, for a total transaction of $518,910.00. Following the completion of the transaction, the insider now owns 117,432 shares of the company’s stock, valued at $4,145,349.60. The disclosure for this sale can be found here. Insiders sold 29,450 shares of company stock valued at $1,065,220 over the last 90 days. Insiders own 0.06% of the company’s stock.
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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).
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