Kahn Brothers Group Inc. DE cut its holdings in shares of Pfizer Inc. (NYSE:PFE) by 3.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 557,495 shares of the biopharmaceutical company’s stock after selling 20,121 shares during the quarter. Pfizer accounts for 3.0% of Kahn Brothers Group Inc. DE’s holdings, making the stock its 15th largest position. Kahn Brothers Group Inc. DE owned 9,373.84% of Pfizer worth $19,903,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. HL Financial Services LLC increased its holdings in shares of 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 period. Hartford Financial Management Inc. increased its holdings in shares of 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 period. Cadence Bank NA increased its holdings in shares of 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 period. Majedie Asset Management Ltd increased its stake in Pfizer by 7.9% in the second quarter. Majedie Asset Management Ltd now owns 336,991 shares of the biopharmaceutical company’s stock valued at $11,320,000 after acquiring an additional 24,531 shares during the last quarter. Finally, Stanley Laman Group Ltd. increased its stake in Pfizer by 373.7% in the second quarter. Stanley Laman Group Ltd. now owns 114,284 shares of the biopharmaceutical company’s stock valued at $3,839,000 after acquiring an additional 90,160 shares during the last quarter. 69.75% of the stock is currently owned by institutional investors.
A number of research analysts recently issued reports on PFE shares. BMO Capital Markets set a $39.00 price objective on shares of Pfizer and gave the company a “buy” rating in a research note on Tuesday, October 31st. UBS Group set a $38.00 price objective on shares of Pfizer and gave the company a “buy” rating in a research note on Wednesday, November 1st. Barclays set a $38.00 price objective on shares of Pfizer and gave the company a “buy” rating in a research note on Wednesday, October 11th. ValuEngine raised shares of Pfizer from a “hold” rating to a “buy” rating in a research note on Friday, October 6th. Finally, Zacks Investment Research raised shares of Pfizer from a “hold” rating to a “buy” rating and set a $40.00 price objective on the stock in a research note on Tuesday, October 3rd. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $38.94.
Shares of Pfizer Inc. (NYSE:PFE) opened at $36.94 on Friday. Pfizer Inc. has a 52-week low of $30.90 and a 52-week high of $37.37. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.43 and a quick ratio of 1.15. The firm has a market cap of $220,486.56, a P/E ratio of 14.80, a price-to-earnings-growth ratio of 2.30 and a beta of 1.01.
Pfizer (NYSE:PFE) last issued its earnings results on Tuesday, October 31st. The biopharmaceutical company reported $0.67 earnings per share for the quarter, beating 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 firm had revenue of $13.17 billion for the quarter, compared to analyst estimates of $13.17 billion. During the same quarter last year, the business posted $0.61 earnings per share. The company’s quarterly revenue was up .9% on a year-over-year basis. equities research analysts expect that Pfizer Inc. will post 2.59 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Friday, February 2nd will be given a $0.34 dividend. The ex-dividend date of this dividend is Thursday, February 1st. This represents a $1.36 dividend on an annualized basis and a yield of 3.68%. This is a positive change from Pfizer’s previous quarterly dividend of $0.32. Pfizer’s dividend payout ratio (DPR) is currently 79.01%.
Pfizer declared that its Board of Directors has approved a share repurchase program on Monday, December 18th that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the biopharmaceutical company to reacquire shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.
In other news, insider Alexander R. Mackenzie sold 6,750 shares of Pfizer stock in a transaction on Friday, December 15th. The shares were sold at an average price of $37.00, for a total transaction of $249,750.00. Following the transaction, the insider now owns 103,458 shares in the company, valued at $3,827,946. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Alexander R. Mackenzie sold 14,700 shares of Pfizer stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $35.30, for a total transaction of $518,910.00. Following the transaction, the insider now owns 117,432 shares in the company, valued at approximately $4,145,349.60. The disclosure for this sale can be found here. Insiders sold 29,450 shares of company stock worth $1,065,220 in the last 90 days. Company insiders own 0.06% of the company’s stock.
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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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