Nippon Life Insurance Co. reduced its stake in shares of Pfizer Inc. (NYSE:PFE) by 40.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 613,000 shares of the biopharmaceutical company’s stock after selling 420,500 shares during the period. Pfizer comprises approximately 0.5% of Nippon Life Insurance Co.’s holdings, making the stock its 21st biggest position. Nippon Life Insurance Co.’s holdings in Pfizer were worth $22,025,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently made changes to their positions in PFE. Evolution Wealth Advisors LLC bought a new position in shares of Pfizer in the 2nd quarter worth about $34,000. IMA Wealth Inc. lifted its position in Pfizer by 144.5% in the 2nd quarter. IMA Wealth Inc. now owns 807 shares of the biopharmaceutical company’s stock valued at $35,000 after purchasing an additional 477 shares during the last quarter. 1 North Wealth Services LLC bought a new stake in Pfizer in the 3rd quarter valued at about $29,000. Bourgeon Capital Management LLC bought a new stake in Pfizer in the 3rd quarter valued at about $32,000. Finally, B & T Capital Management DBA Alpha Capital Management bought a new stake in Pfizer in the 3rd quarter valued at about $36,000. 71.51% of the stock is owned by institutional investors.
In related news, major shareholder Pfizer Inc purchased 50,000 shares of the company’s stock in a transaction on Tuesday, September 17th. The shares were bought at an average cost of $18.00 per share, for a total transaction of $900,000.00. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Scott Gottlieb purchased 3,000 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were bought at an average price of $34.72 per share, for a total transaction of $104,160.00. Following the completion of the transaction, the director now directly owns 3,000 shares in the company, valued at approximately $104,160. The disclosure for this purchase can be found here. 0.09% of the stock is currently owned by insiders.
Several analysts recently weighed in on PFE shares. ValuEngine upgraded shares of Pfizer from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Pfizer in a research report on Tuesday, October 29th. Bank of America started coverage on shares of Pfizer in a research report on Wednesday, October 16th. They issued a “neutral” rating and a $37.00 price objective on the stock. Zacks Investment Research upgraded shares of Pfizer from a “sell” rating to a “strong-buy” rating and set a $38.00 price objective on the stock in a research report on Tuesday, October 1st. Finally, UBS Group reiterated a “neutral” rating and issued a $43.00 price objective on shares of Pfizer in a research report on Monday, August 5th. Nine investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $44.02.
Shares of PFE stock traded up $0.04 during midday trading on Tuesday, reaching $36.97. 12,378,785 shares of the company were exchanged, compared to its average volume of 23,265,662. Pfizer Inc. has a 12 month low of $33.97 and a 12 month high of $46.47. The company has a market cap of $205.04 billion, a P/E ratio of 12.32, a PEG ratio of 3.29 and a beta of 0.67. The company’s 50 day moving average price is $36.64 and its two-hundred day moving average price is $39.24. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.68 and a current ratio of 0.90.
Pfizer (NYSE:PFE) last released its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.13. Pfizer had a net margin of 30.57% and a return on equity of 28.10%. The company had revenue of $12.68 billion for the quarter, compared to the consensus estimate of $12.37 billion. During the same period in the previous year, the firm earned $0.78 EPS. Pfizer’s revenue was down 4.6% on a year-over-year basis. As a group, sell-side analysts predict that Pfizer Inc. will post 2.96 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be given a dividend of $0.36 per share. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.90%. Pfizer’s dividend payout ratio (DPR) is 48.00%.
Pfizer Inc discovers, develops, manufactures, and sells healthcare products worldwide. It offers medicines and vaccines in various therapeutic areas, including internal medicine, vaccines, oncology, inflammation and immunology, and rare diseases under the Lyrica, Chantix/Champix, Eliquis, Ibrance, Sutent, Xalkori, Inlyta, Xtandi, Enbrel, Xeljanz, Eucrisa, BeneFix, Genotropin, and Refacto AF/Xyntha brands.
Featured Article: How do candlesticks reflect price movement?
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.