Pinnacle Advisory Group Inc. Reduces Position in Pfizer Inc. (PFE)

Pinnacle Advisory Group Inc. lowered its position in Pfizer Inc. (NYSE:PFE) by 19.7% during the second quarter, Holdings Channel reports. The institutional investor owned 10,194 shares of the biopharmaceutical company’s stock after selling 2,508 shares during the period. Pinnacle Advisory Group Inc.’s holdings in Pfizer were worth $370,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in PFE. BlackRock Inc. grew its holdings in Pfizer by 1.5% during the first quarter. BlackRock Inc. now owns 459,530,944 shares of the biopharmaceutical company’s stock valued at $16,308,754,000 after purchasing an additional 6,785,335 shares during the last quarter. Geode Capital Management LLC grew its holdings in Pfizer by 3.1% during the fourth quarter. Geode Capital Management LLC now owns 63,123,777 shares of the biopharmaceutical company’s stock valued at $2,281,563,000 after purchasing an additional 1,881,570 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Pfizer by 1.5% during the first quarter. Massachusetts Financial Services Co. MA now owns 61,720,550 shares of the biopharmaceutical company’s stock valued at $2,190,462,000 after purchasing an additional 889,094 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Pfizer by 11.9% during the first quarter. Dimensional Fund Advisors LP now owns 47,174,487 shares of the biopharmaceutical company’s stock valued at $1,674,223,000 after purchasing an additional 4,998,981 shares during the last quarter. Finally, Fisher Asset Management LLC grew its holdings in Pfizer by 4.4% during the second quarter. Fisher Asset Management LLC now owns 39,445,117 shares of the biopharmaceutical company’s stock valued at $1,431,069,000 after purchasing an additional 1,671,311 shares during the last quarter. Hedge funds and other institutional investors own 69.14% of the company’s stock.

Several equities analysts have commented on PFE shares. Credit Suisse Group increased their price target on Pfizer from $39.00 to $40.00 and gave the company a “neutral” rating in a report on Wednesday, August 1st. Morgan Stanley set a $45.00 price target on Pfizer and gave the company a “buy” rating in a report on Wednesday, August 29th. Bank of America increased their price target on Pfizer from $42.00 to $43.00 and gave the company a “buy” rating in a report on Wednesday, August 1st. JPMorgan Chase & Co. reiterated a “$37.66” rating on shares of Pfizer in a report on Wednesday, July 18th. Finally, Zacks Investment Research cut Pfizer from a “buy” rating to a “hold” rating in a research report on Sunday, July 15th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and nine have issued a buy rating to the company’s stock. Pfizer has a consensus rating of “Hold” and an average price target of $41.89.

In related news, insider Sally Susman sold 40,381 shares of the firm’s stock in a transaction on Friday, July 20th. The stock was sold at an average price of $37.22, for a total value of $1,502,980.82. Following the completion of the transaction, the insider now directly owns 155,377 shares of the company’s stock, valued at $5,783,131.94. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Ian C. Read sold 486,753 shares of the firm’s stock in a transaction on Monday, July 16th. The stock was sold at an average price of $37.36, for a total value of $18,185,092.08. Following the completion of the transaction, the chief executive officer now directly owns 1,145,693 shares of the company’s stock, valued at $42,803,090.48. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 761,230 shares of company stock valued at $29,054,690. 0.06% of the stock is owned by company insiders.

Shares of PFE stock opened at $42.96 on Monday. The firm has a market capitalization of $252.46 billion, a P/E ratio of 16.21, a PEG ratio of 2.04 and a beta of 0.96. Pfizer Inc. has a one year low of $33.20 and a one year high of $43.00. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.16 and a quick ratio of 0.91.

Pfizer (NYSE:PFE) last issued its earnings results on Tuesday, July 31st. The biopharmaceutical company reported $0.81 EPS for the quarter, topping the consensus estimate of $0.74 by $0.07. The firm had revenue of $13.47 billion during the quarter, compared to analysts’ expectations of $13.30 billion. Pfizer had a return on equity of 25.35% and a net margin of 42.35%. Pfizer’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same period last year, the business earned $0.67 earnings per share. sell-side analysts predict that Pfizer Inc. will post 2.99 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 4th. Investors of record on Friday, August 3rd were given a $0.34 dividend. The ex-dividend date was Thursday, August 2nd. This represents a $1.36 annualized dividend and a yield of 3.17%. Pfizer’s dividend payout ratio (DPR) is currently 51.32%.

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.

See Also: Price to Earnings Ratio (PE) Basics

Want to see what other hedge funds are holding PFE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pfizer Inc. (NYSE:PFE).

Institutional Ownership by Quarter for Pfizer (NYSE:PFE)

Receive News & Ratings for Pfizer Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pfizer and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply