Wedbush Securities Inc. Cuts Holdings in Pfizer Inc. (PFE)

Wedbush Securities Inc. cut its stake in shares of Pfizer Inc. (NYSE:PFE) by 6.8% in the 1st quarter, Holdings Channel reports. The fund owned 121,773 shares of the biopharmaceutical company’s stock after selling 8,867 shares during the quarter. Pfizer makes up 0.6% of Wedbush Securities Inc.’s investment portfolio, making the stock its 28th largest position. Wedbush Securities Inc.’s holdings in Pfizer were worth $4,322,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of PFE. Nomura Asset Management Co. Ltd. lifted its position in Pfizer by 16.5% during the third quarter. Nomura Asset Management Co. Ltd. now owns 1,237,576 shares of the biopharmaceutical company’s stock worth $44,182,000 after acquiring an additional 175,429 shares during the last quarter. Santa Barbara Asset Management LLC increased its holdings in shares of Pfizer by 0.3% during the third quarter. Santa Barbara Asset Management LLC now owns 4,509,068 shares of the biopharmaceutical company’s stock worth $160,974,000 after purchasing an additional 13,378 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in shares of Pfizer by 3.4% during the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 2,679,520 shares of the biopharmaceutical company’s stock worth $95,659,000 after purchasing an additional 88,944 shares during the period. Asset Management One Co. Ltd. increased its holdings in shares of Pfizer by 0.7% during the third quarter. Asset Management One Co. Ltd. now owns 9,740,894 shares of the biopharmaceutical company’s stock worth $347,666,000 after purchasing an additional 71,130 shares during the period. Finally, Uniplan Investment Counsel Inc. increased its holdings in shares of Pfizer by 0.3% during the third quarter. Uniplan Investment Counsel Inc. now owns 613,756 shares of the biopharmaceutical company’s stock worth $21,911,000 after purchasing an additional 1,897 shares during the period. Hedge funds and other institutional investors own 69.43% of the company’s stock.

PFE has been the topic of several recent research reports. Jefferies Financial Group set a $39.00 target price on shares of Pfizer and gave the stock a “hold” rating in a report on Monday, February 26th. BMO Capital Markets set a $43.00 target price on shares of Pfizer and gave the stock a “buy” rating in a report on Tuesday, March 6th. Barclays cut shares of Pfizer from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $41.00 to $38.00 in a report on Thursday, April 5th. Zacks Investment Research cut shares of Pfizer from a “buy” rating to a “hold” rating in a report on Friday, April 6th. Finally, Berenberg Bank reaffirmed a “neutral” rating and set a $37.00 target price on shares of Pfizer in a report on Wednesday, April 11th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and ten have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $40.27.

Shares of Pfizer opened at $36.51 on Friday, MarketBeat reports. Pfizer Inc. has a fifty-two week low of $32.32 and a fifty-two week high of $39.43. The company has a current ratio of 1.27, a quick ratio of 0.98 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $216.09 billion, a price-to-earnings ratio of 13.78, a P/E/G ratio of 1.80 and a beta of 0.91.

Pfizer (NYSE:PFE) last issued its earnings results on Tuesday, May 1st. The biopharmaceutical company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.03. Pfizer had a net margin of 41.29% and a return on equity of 25.29%. The firm had revenue of $12.91 billion for the quarter, compared to analyst estimates of $13.14 billion. During the same quarter last year, the business posted $0.69 earnings per share. The company’s quarterly revenue was up 1.0% on a year-over-year basis. equities analysts anticipate that Pfizer Inc. will post 2.96 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, June 1st. Shareholders of record on Friday, May 11th were given a $0.34 dividend. The ex-dividend date of this dividend was Thursday, May 10th. This represents a $1.36 dividend on an annualized basis and a yield of 3.73%. Pfizer’s dividend payout ratio is currently 51.32%.

In other Pfizer news, EVP Laurie J. Olson sold 19,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 6th. The shares were sold at an average price of $36.45, for a total value of $692,550.00. Following the sale, the executive vice president now owns 98,644 shares in the company, valued at $3,595,573.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ian C. Read sold 132,312 shares of the firm’s stock in a transaction that occurred on Tuesday, May 1st. The shares were sold at an average price of $36.01, for a total transaction of $4,764,555.12. The disclosure for this sale can be found here. Insiders sold 156,535 shares of company stock worth $5,647,222 in the last 90 days. Company insiders own 0.06% of the company’s stock.

Pfizer Profile

Pfizer Inc discovers, develops, manufactures, and sells healthcare products worldwide. It operates in two segments, Pfizer Innovative Health (IH) and Pfizer Essential Health (EH). The IH segment focuses on the development and commercialization of medicines and vaccines, and consumer healthcare products in various therapeutic areas, including internal medicine, vaccines, oncology, inflammation and immunology, and rare diseases, as well as consumer healthcare, such as over-the-counter brands comprising dietary supplements, pain management, gastrointestinal, and respiratory and personal care.

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Institutional Ownership by Quarter for Pfizer (NYSE:PFE)

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