Bank of Nova Scotia Buys 626,350 Shares of Pfizer Inc. (PFE)

Bank of Nova Scotia grew its stake in Pfizer Inc. (NYSE:PFE) by 54.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,769,738 shares of the biopharmaceutical company’s stock after buying an additional 626,350 shares during the period. Bank of Nova Scotia’s holdings in Pfizer were worth $64,205,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of PFE. Massachusetts Financial Services Co. MA grew its stake in Pfizer by 0.3% during the second quarter. Massachusetts Financial Services Co. MA now owns 61,881,280 shares of the biopharmaceutical company’s stock worth $2,245,053,000 after purchasing an additional 160,730 shares during the period. Morgan Stanley boosted its holdings in Pfizer by 2.5% in the second quarter. Morgan Stanley now owns 54,367,234 shares of the biopharmaceutical company’s stock worth $1,972,442,000 after acquiring an additional 1,345,528 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Pfizer by 15.0% in the second quarter. Dimensional Fund Advisors LP now owns 54,233,658 shares of the biopharmaceutical company’s stock worth $1,967,651,000 after acquiring an additional 7,059,171 shares in the last quarter. Fisher Asset Management LLC boosted its holdings 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 worth $1,431,069,000 after acquiring an additional 1,671,311 shares in the last quarter. Finally, LSV Asset Management boosted its holdings in Pfizer by 2.7% in the second quarter. LSV Asset Management now owns 36,774,591 shares of the biopharmaceutical company’s stock worth $1,334,182,000 after acquiring an additional 973,497 shares in the last quarter. 69.42% of the stock is owned by institutional investors.

In related news, major shareholder Pfizer Inc bought 55,556 shares of the company’s stock in a transaction dated Monday, October 15th. The shares were bought at an average price of $18.00 per share, for a total transaction of $1,000,008.00. Following the completion of the acquisition, 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 document filed with the SEC, which is available at this hyperlink. 0.06% of the stock is owned by company insiders.

PFE stock opened at $45.14 on Thursday. Pfizer Inc. has a twelve month low of $33.20 and a twelve month high of $46.47. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.15 and a current ratio of 1.43. The company has a market capitalization of $275.20 billion, a PE ratio of 17.03, a P/E/G ratio of 2.29 and a beta of 0.88.

Pfizer (NYSE:PFE) last posted its earnings results on Tuesday, October 30th. The biopharmaceutical company reported $0.78 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.75 by $0.03. Pfizer had a return on equity of 25.26% and a net margin of 44.63%. The company had revenue of $13.30 billion for the quarter, compared to analyst estimates of $13.53 billion. During the same quarter last year, the company earned $0.67 earnings per share. The company’s revenue for the quarter was up 1.0% on a year-over-year basis. Equities research analysts anticipate that Pfizer Inc. will post 3 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Monday, December 3rd. Stockholders of record on Friday, November 9th were issued a $0.34 dividend. The ex-dividend date was Thursday, November 8th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.01%. Pfizer’s dividend payout ratio is presently 51.32%.

PFE has been the topic of several recent research reports. Barclays set a $40.00 price target on Pfizer and gave the stock a “neutral” rating in a report on Wednesday, August 29th. Atlantic Securities reiterated a “buy” rating and issued a $54.00 price target on shares of Pfizer in a report on Tuesday, November 27th. Deutsche Bank set a $45.00 price target on Pfizer and gave the stock a “buy” rating in a report on Tuesday, August 21st. Morningstar set a $45.00 price target on Pfizer and gave the stock a “buy” rating in a report on Wednesday, August 8th. Finally, Cantor Fitzgerald set a $53.00 price target on Pfizer and gave the stock a “buy” rating in a report on Thursday, November 8th. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and nine have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $43.27.

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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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