First Long Island Investors LLC trimmed its holdings in Pfizer Inc. (NYSE:PFE) by 10.5% in the 2nd quarter, HoldingsChannel reports. The fund owned 402,151 shares of the biopharmaceutical company’s stock after selling 47,007 shares during the quarter. Pfizer makes up 2.1% of First Long Island Investors LLC’s investment portfolio, making the stock its 19th largest position. First Long Island Investors LLC’s holdings in Pfizer were worth $14,590,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also bought and sold shares of the business. Accuvest Global Advisors lifted its stake in shares of Pfizer by 6,696.8% in the second quarter. Accuvest Global Advisors now owns 10,603 shares of the biopharmaceutical company’s stock worth $385,000 after buying an additional 10,447 shares during the last quarter. Independent Advisor Alliance lifted its stake in shares of Pfizer by 5.9% in the second quarter. Independent Advisor Alliance now owns 50,411 shares of the biopharmaceutical company’s stock worth $1,749,000 after buying an additional 2,793 shares during the last quarter. Ausdal Financial Partners Inc. lifted its stake in shares of Pfizer by 17.0% in the second quarter. Ausdal Financial Partners Inc. now owns 24,640 shares of the biopharmaceutical company’s stock worth $894,000 after buying an additional 3,587 shares during the last quarter. Marietta Wealth Management LLC lifted its stake in shares of Pfizer by 9.4% in the second quarter. Marietta Wealth Management LLC now owns 16,764 shares of the biopharmaceutical company’s stock worth $608,000 after buying an additional 1,446 shares during the last quarter. Finally, South Texas Money Management Ltd. lifted its stake in shares of Pfizer by 7.2% in the second quarter. South Texas Money Management Ltd. now owns 55,448 shares of the biopharmaceutical company’s stock worth $2,012,000 after buying an additional 3,714 shares during the last quarter. 68.96% of the stock is owned by institutional investors.
In related news, insider Laurie J. Olson sold 10,214 shares of the company’s stock in a transaction on Monday, August 13th. The shares were sold at an average price of $41.00, for a total transaction of $418,774.00. Following the completion of the transaction, the insider now directly owns 72,672 shares in the company, valued at approximately $2,979,552. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Pfizer Inc bought 55,556 shares of the business’s stock in a transaction that occurred on Monday, October 15th. The shares were bought at an average price of $18.00 per share, with a total value of $1,000,008.00. Following the completion of the purchase, the insider now owns 21,976,484 shares in the company, valued at $395,576,712. The disclosure for this purchase can be found here. 0.06% of the stock is owned by corporate insiders.
A number of analysts have recently weighed in on the stock. Goldman Sachs Group restated a “neutral” rating and issued a $45.00 price objective on shares of Pfizer in a research note on Tuesday, August 28th. Zacks Investment Research cut shares of Pfizer from a “buy” rating to a “hold” rating in a research note on Tuesday, October 16th. Independent Research set a $48.00 price objective on shares of Pfizer and gave the stock a “neutral” rating in a research note on Thursday, October 4th. Credit Suisse Group boosted their price objective on shares of Pfizer from $39.00 to $40.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 1st. Finally, Barclays restated a “neutral” rating and issued a $40.00 price objective on shares of Pfizer in a research note on Wednesday, September 26th. Two investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and eight have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $42.67.
NYSE:PFE opened at $43.01 on Wednesday. The firm has a market cap of $255.56 billion, a P/E ratio of 16.23, a P/E/G ratio of 2.16 and a beta of 0.88. Pfizer Inc. has a one year low of $33.20 and a one year high of $45.81. The company has a quick ratio of 0.91, a current ratio of 1.16 and a debt-to-equity ratio of 0.41.
Pfizer (NYSE:PFE) last released its earnings results on Tuesday, October 30th. The biopharmaceutical company reported $0.78 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.75 by $0.03. The firm had revenue of $13.30 billion during the quarter, compared to analysts’ expectations of $13.53 billion. Pfizer had a net margin of 44.63% and a return on equity of 25.34%. The business’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.67 EPS. As a group, analysts forecast that Pfizer Inc. will post 3 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, December 3rd. Investors of record on Friday, November 9th will be paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 3.16%. The ex-dividend date of this dividend is Thursday, November 8th. Pfizer’s payout ratio is currently 51.32%.
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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.
Further Reading: How to Invest in the Dividend Aristocrat Index
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