Chevy Chase Trust Holdings Inc. increased its holdings in shares of Pfizer Inc. (NYSE:PFE) by 1.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,496,889 shares of the biopharmaceutical company’s stock after buying an additional 64,695 shares during the quarter. Pfizer accounts for about 0.9% of Chevy Chase Trust Holdings Inc.’s holdings, making the stock its 21st biggest holding. Chevy Chase Trust Holdings Inc. owned approximately 0.09% of Pfizer worth $196,239,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in PFE. Shine Investment Advisory Services Inc. acquired a new stake in shares of Pfizer in the second quarter valued at about $102,000. Mckinley Capital Management LLC Delaware acquired a new stake in shares of Pfizer in the second quarter valued at about $103,000. Herndon Capital Management LLC acquired a new stake in shares of Pfizer in the second quarter valued at about $120,000. Private Vista LLC increased its stake in shares of Pfizer by 2,277.3% in the second quarter. Private Vista LLC now owns 199,317 shares of the biopharmaceutical company’s stock valued at $133,000 after buying an additional 190,933 shares during the period. Finally, Lipe & Dalton increased its stake in shares of Pfizer by 6.9% in the second quarter. Lipe & Dalton now owns 4,626 shares of the biopharmaceutical company’s stock valued at $155,000 after buying an additional 300 shares during the period. Institutional investors and hedge funds own 70.12% of the company’s stock.
Several equities research analysts have recently weighed in on the company. BMO Capital Markets set a $39.00 price target on Pfizer and gave the company a “buy” rating in a research note on Tuesday, January 30th. SunTrust Banks reissued a “hold” rating and issued a $40.00 price target (up previously from $33.00) on shares of Pfizer in a research note on Monday, January 29th. Morgan Stanley increased their price target on Pfizer from $41.00 to $43.00 and gave the company a “buy” rating in a research note on Wednesday, January 31st. UBS Group set a $42.00 price target on Pfizer and gave the company a “buy” rating in a research note on Wednesday, January 31st. Finally, Societe Generale set a $40.00 price target on Pfizer and gave the company a “neutral” rating in a research note on Wednesday, January 31st. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and eleven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $39.45.
Shares of Pfizer Inc. (NYSE:PFE) opened at $36.26 on Friday. Pfizer Inc. has a one year low of $31.67 and a one year high of $39.43. The company has a market capitalization of $216,140.00, a P/E ratio of 20.72, a P/E/G ratio of 2.02 and a beta of 0.94. 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, January 30th. The biopharmaceutical company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.56 by $0.06. The business had revenue of $13.70 billion during the quarter, compared to analysts’ expectations of $13.67 billion. Pfizer had a return on equity of 26.86% and a net margin of 40.55%. The firm’s revenue was up .6% on a year-over-year basis. During the same quarter last year, the firm posted $0.47 earnings per share. analysts forecast that Pfizer Inc. will post 2.95 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Friday, February 2nd will be issued a $0.34 dividend. The ex-dividend date of this dividend is Thursday, February 1st. This represents a $1.36 annualized dividend and a yield of 3.75%. This is a positive change from Pfizer’s previous quarterly dividend of $0.32. Pfizer’s dividend payout ratio is presently 77.71%.
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 buy shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its shares are undervalued.
In other Pfizer news, insider Alexander R. Mackenzie sold 6,750 shares of the 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 transaction, the insider now owns 103,458 shares in the company, valued at $3,827,946. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Rady A. Johnson sold 8,000 shares of the 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 completion of the transaction, 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. 0.06% of the stock is currently owned by corporate 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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