Old Mutual Global Investors UK Ltd. cut its position in shares of Pfizer Inc. (NYSE:PFE) by 30.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,579 shares of the biopharmaceutical company’s stock after selling 6,302 shares during the period. Old Mutual Global Investors UK Ltd.’s holdings in Pfizer were worth $520,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PFE. Shine Investment Advisory Services Inc. acquired a new position in Pfizer in the second quarter worth $102,000. Mckinley Capital Management LLC Delaware acquired a new position in Pfizer in the second quarter worth $103,000. D. Scott Neal Inc. boosted its stake in Pfizer by 19.3% in the second quarter. D. Scott Neal Inc. now owns 3,112 shares of the biopharmaceutical company’s stock worth $105,000 after purchasing an additional 504 shares in the last quarter. Herndon Capital Management LLC acquired a new position in Pfizer in the second quarter worth $120,000. Finally, Lipe & Dalton boosted its stake in Pfizer by 6.9% in the second quarter. Lipe & Dalton now owns 4,626 shares of the biopharmaceutical company’s stock worth $155,000 after purchasing an additional 300 shares in the last quarter. Institutional investors and hedge funds own 69.75% of the company’s stock.
In other news, insider Alexander R. Mackenzie sold 6,750 shares of the firm’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $37.00, for a total value 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 $3,827,946. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Alexander R. Mackenzie sold 14,700 shares of the firm’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $35.30, for a total value of $518,910.00. Following the completion of the sale, the insider now directly 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 have sold 29,450 shares of company stock valued at $1,065,220 over the last three months. Insiders own 0.06% of the company’s stock.
Shares of Pfizer Inc. (PFE) traded down $0.05 during trading on Friday, hitting $36.94. The company’s stock had a trading volume of 29,393,623 shares, compared to its average volume of 12,926,996. Pfizer Inc. has a 12 month low of $30.90 and a 12 month high of $37.37. The company has a market capitalization of $220,188.52, a P/E ratio of 22.80, a P/E/G ratio of 2.30 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 (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 the Zacks’ 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 return on equity of 25.41% and a net margin of 18.69%. Pfizer’s quarterly revenue was up .9% on a year-over-year basis. During the same period last year, the company earned $0.61 earnings per share. equities research analysts expect that Pfizer Inc. will post 2.6 EPS for the current fiscal year.
Pfizer declared that its Board of Directors has authorized a share buyback program on Monday, December 18th that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the biopharmaceutical company to buy shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Friday, February 2nd will be issued a dividend of $0.34 per share. 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 dividend on an annualized basis and a dividend yield of 3.68%. Pfizer’s dividend payout ratio (DPR) is presently 79.01%.
A number of equities analysts have commented on PFE shares. UBS Group set a $40.00 price objective on Pfizer and gave the stock a “buy” rating in a research note on Wednesday, December 6th. BMO Capital Markets reaffirmed a “buy” rating and set a $39.00 price target on shares of Pfizer in a research note on Friday, November 10th. Vetr raised Pfizer from a “hold” rating to a “buy” rating and set a $38.82 price target on the stock in a research note on Thursday, November 23rd. Zacks Investment Research raised Pfizer from a “hold” rating to a “buy” rating and set a $40.00 price target on the stock in a research note on Tuesday, October 3rd. Finally, Jefferies Group set a $39.00 price objective on Pfizer and gave the company a “neutral” rating in a report on Thursday, November 16th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $38.94.
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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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