CIBC Asset Management Inc reduced its position in Pfizer Inc. (NYSE:PFE) by 4.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 574,556 shares of the biopharmaceutical company’s stock after selling 28,197 shares during the period. CIBC Asset Management Inc’s holdings in Pfizer were worth $20,391,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in PFE. Earnest Partners LLC purchased a new position in Pfizer during the fourth quarter valued at approximately $105,000. First Dallas Securities Inc. purchased a new position in Pfizer during the fourth quarter valued at approximately $118,000. Woodard & Co. Asset Management Group Inc. ADV purchased a new position in Pfizer during the fourth quarter valued at approximately $118,000. Delpha Capital Management LLC purchased a new position in Pfizer during the fourth quarter valued at approximately $126,000. Finally, Americafirst Capital Management LLC purchased a new position in Pfizer during the third quarter valued at approximately $127,000. 69.43% of the stock is currently owned by institutional investors and hedge funds.
Shares of Pfizer opened at $36.38 on Tuesday, Marketbeat.com reports. The company has a quick ratio of 0.98, a current ratio of 1.27 and a debt-to-equity ratio of 0.45. Pfizer Inc. has a 1-year low of $32.32 and a 1-year high of $39.43. The firm has a market capitalization of $217.34 billion, a PE ratio of 13.73, a PEG ratio of 1.81 and a beta of 0.91.
Pfizer (NYSE:PFE) last issued its quarterly earnings data on Tuesday, May 1st. The biopharmaceutical company reported $0.77 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.74 by $0.03. Pfizer had a net margin of 41.29% and a return on equity of 25.29%. The business had revenue of $12.91 billion during the quarter, compared to analysts’ expectations of $13.14 billion. During the same period in the previous year, the company earned $0.69 earnings per share. Pfizer’s revenue for the quarter was up 1.0% on a year-over-year basis. analysts anticipate that Pfizer Inc. will post 2.96 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 1st. Stockholders of record on Friday, May 11th were paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.74%. The ex-dividend date was Thursday, May 10th. Pfizer’s payout ratio is 51.32%.
In other news, Director W Don Cornwell sold 5,223 shares of the business’s stock in a transaction on Monday, June 4th. The shares were sold at an average price of $36.40, for a total value of $190,117.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Ian C. Read sold 132,312 shares of the business’s stock in a transaction on Tuesday, May 1st. The stock was 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 valued at $5,647,222 over the last 90 days. 0.06% of the stock is owned by corporate insiders.
A number of research analysts recently commented on PFE shares. Credit Suisse Group reaffirmed a “neutral” rating and set a $39.00 price objective on shares of Pfizer in a research report on Friday, May 18th. Barclays downgraded shares of Pfizer from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $41.00 to $38.00 in a research report on Thursday, April 5th. Morgan Stanley reaffirmed a “buy” rating and set a $43.00 price objective on shares of Pfizer in a research report on Monday, June 11th. ValuEngine downgraded shares of Pfizer from a “buy” rating to a “hold” rating in a research report on Wednesday, May 2nd. Finally, Zacks Investment Research downgraded shares of Pfizer from a “buy” rating to a “hold” rating in a research report on Friday, April 6th. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and ten have issued a buy rating to the company. Pfizer presently has a consensus rating of “Hold” and a consensus price target of $40.27.
Pfizer Company 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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