Stearns Financial Services Group cut its position in shares of Pfizer Inc. (NYSE:PFE) by 38.2% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 37,799 shares of the biopharmaceutical company’s stock after selling 23,381 shares during the period. Stearns Financial Services Group’s holdings in Pfizer were worth $1,349,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Callahan Advisors LLC increased its position in Pfizer by 1.9% during the 1st quarter. Callahan Advisors LLC now owns 279,334 shares of the biopharmaceutical company’s stock valued at $9,556,000 after buying an additional 5,176 shares in the last quarter. Beaumont Financial Partners LLC increased its position in Pfizer by 17.1% during the 1st quarter. Beaumont Financial Partners LLC now owns 8,597 shares of the biopharmaceutical company’s stock valued at $294,000 after buying an additional 1,254 shares in the last quarter. Grandfield & Dodd LLC increased its position in Pfizer by 0.3% during the 1st quarter. Grandfield & Dodd LLC now owns 83,230 shares of the biopharmaceutical company’s stock valued at $2,847,000 after buying an additional 250 shares in the last quarter. Usca Ria LLC increased its position in Pfizer by 19.6% during the 1st quarter. Usca Ria LLC now owns 331,931 shares of the biopharmaceutical company’s stock valued at $11,355,000 after buying an additional 54,492 shares in the last quarter. Finally, Willingdon Wealth Management grew its stake in Pfizer by 2.9% during the 1st quarter. Willingdon Wealth Management now owns 67,002 shares of the biopharmaceutical company’s stock valued at $2,292,000 after purchasing an additional 1,883 shares during the last quarter. 69.74% of the stock is owned by institutional investors and hedge funds.
Several analysts have weighed in on the company. ValuEngine upgraded Pfizer from a “hold” rating to a “buy” rating in a research note on Friday, October 6th. JPMorgan Chase & Co. set a $39.00 target price on Pfizer and gave the stock a “buy” rating in a research note on Wednesday, November 1st. Jefferies Group set a $39.00 target price on Pfizer and gave the stock a “neutral” rating in a research note on Thursday, November 16th. Nord/LB restated a “neutral” rating on shares of Pfizer in a research note on Tuesday, January 2nd. Finally, Morgan Stanley set a $41.00 price target on Pfizer and gave the stock a “buy” rating in a research report on Friday, January 5th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $38.83.
In other news, insider Alexander R. Mackenzie sold 6,750 shares of Pfizer stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $37.00, for a total transaction of $249,750.00. Following the sale, the insider now owns 103,458 shares in the company, valued at $3,827,946. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Rady A. Johnson sold 8,000 shares of Pfizer stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $37.07, for a total value of $296,560.00. Following the sale, 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. Over the last 90 days, insiders sold 29,450 shares of company stock worth $1,065,220. 0.06% of the stock is owned by insiders.
Pfizer Inc. (PFE) traded down $0.02 during trading hours on Friday, reaching $36.54. The company had a trading volume of 19,179,700 shares, compared to its average volume of 15,820,000. The stock has a market capitalization of $217,800.00, a price-to-earnings ratio of 22.42, a PEG ratio of 2.44 and a beta of 1.01. Pfizer Inc. has a 52-week low of $30.90 and a 52-week high of $37.35. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.15 and a current ratio of 1.43.
Pfizer (NYSE:PFE) last released its earnings results on Tuesday, October 31st. The biopharmaceutical company reported $0.67 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.02. The firm had revenue of $13.17 billion during the quarter, compared to analyst estimates of $13.17 billion. Pfizer had a return on equity of 25.41% and a net margin of 18.69%. Pfizer’s revenue was up .9% compared to the same quarter last year. During the same period last year, the business posted $0.61 earnings per share. equities analysts anticipate that Pfizer Inc. will post 2.59 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders 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 a boost from Pfizer’s previous quarterly dividend of $0.32. This represents a $1.36 dividend on an annualized basis and a yield of 3.72%. Pfizer’s dividend payout ratio (DPR) is currently 78.53%.
Pfizer declared that its Board of Directors has initiated a stock buyback plan on Monday, December 18th that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the biopharmaceutical company to buy shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.
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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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