Stanley Laman Group Ltd. trimmed its stake in Pfizer Inc. (NYSE:PFE) by 5.2% in the second quarter, Holdings Channel reports. The fund owned 91,001 shares of the biopharmaceutical company’s stock after selling 5,009 shares during the quarter. Stanley Laman Group Ltd.’s holdings in Pfizer were worth $3,302,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PFE. BlackRock Inc. increased its stake in Pfizer by 1.5% in 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. Dimensional Fund Advisors LP increased its stake in Pfizer by 11.9% in 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. Jensen Investment Management Inc. acquired a new position in Pfizer in the second quarter valued at $110,291,000. Neuberger Berman Group LLC increased its stake in Pfizer by 17.9% in the first quarter. Neuberger Berman Group LLC now owns 16,056,110 shares of the biopharmaceutical company’s stock valued at $569,979,000 after purchasing an additional 2,432,694 shares during the last quarter. Finally, Fisher Asset Management LLC increased its stake in Pfizer by 4.4% in 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. 68.96% of the stock is owned by institutional investors.
In related news, major shareholder Pfizer Inc bought 55,556 shares of the firm’s stock in a transaction dated Monday, October 15th. The stock was bought at an average price of $18.00 per share, with a total value of $1,000,008.00. Following the completion of the transaction, the insider now directly owns 21,976,484 shares of the company’s stock, valued at $395,576,712. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Laurie J. Olson sold 10,214 shares of the company’s stock in a transaction dated Monday, August 13th. The stock was sold at an average price of $41.00, for a total value of $418,774.00. Following the completion of the sale, the insider now directly owns 72,672 shares of the company’s stock, valued at approximately $2,979,552. The disclosure for this sale can be found here. 0.06% of the stock is owned by corporate insiders.
Shares of NYSE PFE opened at $44.28 on Friday. Pfizer Inc. has a 1-year low of $33.20 and a 1-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. The stock has a market capitalization of $261.03 billion, a PE ratio of 14.72, a P/E/G ratio of 2.21 and a beta of 0.88.
Pfizer (NYSE:PFE) last issued its earnings results on Tuesday, October 30th. The biopharmaceutical company reported $0.78 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.75 by $0.03. Pfizer had a return on equity of 25.34% and a net margin of 44.63%. The company had revenue of $13.30 billion during the quarter, compared to the consensus estimate of $13.53 billion. During the same quarter in the prior year, the business earned $0.67 earnings per share. The company’s revenue was up 1.0% compared to the same quarter last year. On average, research analysts anticipate that Pfizer Inc. will post 3 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, December 3rd. Stockholders of record on Friday, November 9th will be given a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 3.07%. The ex-dividend date of this dividend is Thursday, November 8th. Pfizer’s payout ratio is 51.32%.
PFE has been the subject of a number of research reports. Cantor Fitzgerald set a $45.00 price target on Pfizer and gave the company a “buy” rating in a research report on Thursday, October 4th. Morgan Stanley set a $45.00 price target on Pfizer and gave the company a “buy” rating in a research report on Wednesday, August 29th. Credit Suisse Group boosted their price target on Pfizer from $39.00 to $40.00 and gave the company a “neutral” rating in a research report on Wednesday, August 1st. Bank of America boosted their price target on Pfizer from $42.00 to $43.00 and gave the company a “buy” rating in a research report on Wednesday, August 1st. Finally, Goldman Sachs Group reissued a “neutral” rating and set a $45.00 price target on shares of Pfizer in a research report on Tuesday, October 30th. Two investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eight have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $42.67.
ILLEGAL ACTIVITY NOTICE: “Stanley Laman Group Ltd. Has $3.30 Million Stake in Pfizer Inc. (PFE)” was originally published by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are viewing this report on another site, it was copied illegally and republished in violation of U.S. & international copyright & trademark laws. The legal version of this report can be accessed at https://www.dispatchtribunal.com/2018/11/11/stanley-laman-group-ltd-has-3-30-million-stake-in-pfizer-inc-pfe.html.
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.
Featured Story: Do Tariffs Work?
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).
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.