BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in Pfizer Inc. (NYSE:PFE) by 3.4% during the third quarter, HoldingsChannel reports. The firm owned 2,679,520 shares of the biopharmaceutical company’s stock after purchasing an additional 88,944 shares during the quarter. Pfizer makes up 0.7% of BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s investment portfolio, making the stock its 25th largest position. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Pfizer were worth $95,659,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Shine Investment Advisory Services Inc. purchased a new stake in Pfizer in the 2nd quarter valued at approximately $102,000. Mckinley Capital Management LLC Delaware purchased a new stake in Pfizer in the 2nd quarter valued at approximately $103,000. Herndon Capital Management LLC purchased a new stake in Pfizer in the 2nd quarter valued at approximately $120,000. Private Vista LLC boosted its holdings in Pfizer by 2,277.3% in the 2nd quarter. Private Vista LLC now owns 199,317 shares of the biopharmaceutical company’s stock valued at $133,000 after purchasing an additional 190,933 shares in the last quarter. Finally, Lipe & Dalton boosted its holdings in Pfizer by 6.9% in the 2nd quarter. Lipe & Dalton now owns 4,626 shares of the biopharmaceutical company’s stock valued at $155,000 after purchasing an additional 300 shares in the last quarter. 70.12% of the stock is currently owned by institutional investors.
Pfizer Inc. (NYSE PFE) opened at $35.74 on Friday. 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 Inc. has a 12-month low of $31.67 and a 12-month high of $39.43. The stock has a market capitalization of $213,040.00, a P/E ratio of 10.15, a P/E/G ratio of 2.03 and a beta of 0.94.
Pfizer (NYSE:PFE) last issued its quarterly earnings data on Tuesday, January 30th. The biopharmaceutical company reported $0.62 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 in the previous year, the firm posted $0.47 EPS. The company’s quarterly revenue was up .6% compared to the same quarter last year. analysts predict that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.
Pfizer declared that its Board of Directors has initiated a stock buyback program on Monday, December 18th that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the biopharmaceutical company to purchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Friday, February 2nd will be given a dividend of $0.34 per share. 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 3.81%. The ex-dividend date of this dividend is Thursday, February 1st. Pfizer’s payout ratio is currently 38.64%.
In related news, insider Alexander R. Mackenzie sold 6,750 shares of Pfizer stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 103,458 shares in the company, valued at approximately $3,827,946. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Rady A. Johnson sold 8,000 shares of Pfizer stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $37.07, for a total value of $296,560.00. Following the transaction, the executive vice president now owns 46,963 shares of the company’s stock, valued at $1,740,918.41. The disclosure for this sale can be found here. Insiders own 0.06% of the company’s stock.
A number of brokerages have weighed in on PFE. Sanford C. Bernstein set a $43.00 price objective on Pfizer and gave the company a “buy” rating in a report on Tuesday, January 30th. Goldman Sachs Group set a $36.00 price objective on Pfizer and gave the company a “neutral” rating in a report on Tuesday, January 30th. UBS Group set a $42.00 price objective on Pfizer and gave the company a “buy” rating in a report on Wednesday, January 31st. BMO Capital Markets set a $39.00 price target on shares of Pfizer and gave the company a “buy” rating in a research report on Tuesday, October 31st. Finally, Berenberg Bank set a $36.00 price target on shares of Pfizer and gave the company a “neutral” rating in a research report on Tuesday, January 30th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and eleven have assigned a buy rating to the stock. Pfizer currently has a consensus rating of “Hold” and an average price target of $39.45.
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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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