FineMark National Bank & Trust lowered its position in Pfizer Inc. (NYSE:PFE) by 1.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 404,092 shares of the biopharmaceutical company’s stock after selling 5,032 shares during the quarter. Pfizer makes up approximately 1.0% of FineMark National Bank & Trust’s portfolio, making the stock its 15th biggest position. FineMark National Bank & Trust’s holdings in Pfizer were worth $14,426,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of the business. HighTower Advisors LLC boosted its stake in shares of Pfizer by 2.2% during the first quarter. HighTower Advisors LLC now owns 2,423,586 shares of the biopharmaceutical company’s stock valued at $82,836,000 after purchasing an additional 51,174 shares during the period. Harbour Capital Advisors LLC purchased a new stake in shares of Pfizer during the first quarter valued at approximately $453,000. Macquarie Group Ltd. boosted its stake in shares of Pfizer by 0.9% during the first quarter. Macquarie Group Ltd. now owns 24,683,746 shares of the biopharmaceutical company’s stock valued at $844,431,000 after purchasing an additional 228,405 shares during the period. Kovitz Investment Group Partners LLC boosted its stake in shares of Pfizer by 4.6% during the first quarter. Kovitz Investment Group Partners LLC now owns 23,258 shares of the biopharmaceutical company’s stock valued at $796,000 after purchasing an additional 1,027 shares during the period. Finally, Security National Bank of Sioux City Iowa IA purchased a new stake in Pfizer in the first quarter worth $432,000. 69.87% of the stock is owned by institutional investors and hedge funds.
A number of analysts recently commented on PFE shares. UBS Group set a $38.00 price target on Pfizer and gave the stock a “buy” rating in a research note on Wednesday, November 1st. BMO Capital Markets reaffirmed a “buy” rating and issued a $39.00 price target (up previously from $37.00) on shares of Pfizer in a research note on Thursday, October 19th. Barclays set a $38.00 price target on Pfizer and gave the stock a “buy” rating in a research note on Wednesday, October 11th. ValuEngine raised Pfizer from a “hold” rating to a “buy” rating in a research note on Friday, October 6th. Finally, Deutsche Bank set a $38.00 price target on Pfizer and gave the stock a “buy” rating in a research note on Wednesday, October 11th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and twelve have given a buy rating to the company’s stock. Pfizer has a consensus rating of “Hold” and an average target price of $39.14.
Shares of Pfizer Inc. (PFE) traded up $0.13 during trading hours on Thursday, hitting $36.83. The stock had a trading volume of 28,175,481 shares, compared to its average volume of 19,540,000. Pfizer Inc. has a 1 year low of $31.26 and a 1 year high of $39.43. 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 company has a market capitalization of $219,530.00, a P/E ratio of 10.46, a PEG ratio of 2.20 and a beta of 1.01.
Pfizer (NYSE:PFE) last issued its quarterly earnings results on Tuesday, January 30th. The biopharmaceutical company reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.06. Pfizer had a return on equity of 26.86% and a net margin of 40.55%. The firm had revenue of $13.70 billion during the quarter, compared to the consensus estimate of $13.67 billion. During the same period last year, the company earned $0.47 earnings per share. The company’s revenue was up .6% on a year-over-year basis. analysts expect that Pfizer Inc. will post 2.94 EPS for the current year.
The business also recently declared 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. The ex-dividend date 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 3.69%. Pfizer’s dividend payout ratio (DPR) is presently 36.36%.
Pfizer declared that its Board of Directors has initiated a stock repurchase program on Monday, December 18th that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the biopharmaceutical company to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s board believes its stock is undervalued.
In related news, insider Alexander R. Mackenzie sold 6,750 shares of the stock in a transaction on 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 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 Securities & Exchange Commission, which is available at this link. Also, EVP Rady A. Johnson sold 8,000 shares of the stock in a transaction on Friday, December 15th. The shares were sold at an average price of $37.07, for a total value of $296,560.00. Following the sale, the executive vice president now directly owns 46,963 shares in the company, valued at $1,740,918.41. The disclosure for this sale can be found here. 0.06% of the stock is owned by company insiders.
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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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