Gateway Investment Advisers LLC cut its stake in shares of Pfizer Inc. (NYSE:PFE) by 15.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,042,236 shares of the biopharmaceutical company’s stock after selling 370,150 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Pfizer were worth $66,781,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of PFE. Norges Bank bought a new position in shares of Pfizer during the fourth quarter valued at $2,326,225,000. Capital World Investors boosted its position in shares of Pfizer by 19.1% during the first quarter. Capital World Investors now owns 224,808,113 shares of the biopharmaceutical company’s stock valued at $7,337,737,000 after buying an additional 36,092,723 shares during the last quarter. Wellington Management Group LLP boosted its position in Pfizer by 12.9% in the first quarter. Wellington Management Group LLP now owns 218,676,145 shares of the biopharmaceutical company’s stock worth $7,137,589,000 after purchasing an additional 24,950,461 shares during the last quarter. APG Asset Management N.V. boosted its position in Pfizer by 347.2% in the first quarter. APG Asset Management N.V. now owns 13,556,380 shares of the biopharmaceutical company’s stock worth $512,748,000 after purchasing an additional 10,524,792 shares during the last quarter. Finally, Nuveen Asset Management LLC boosted its position in Pfizer by 30.9% in the first quarter. Nuveen Asset Management LLC now owns 40,753,427 shares of the biopharmaceutical company’s stock worth $1,330,192,000 after purchasing an additional 9,624,759 shares during the last quarter. Hedge funds and other institutional investors own 70.20% of the company’s stock.
PFE has been the topic of several recent research reports. Royal Bank of Canada reaffirmed a “buy” rating and issued a $44.00 price objective on shares of Pfizer in a research note on Monday, April 27th. SVB Leerink started coverage on Pfizer in a research note on Tuesday, June 16th. They set a “market perform” rating and a $40.00 target price on the stock. Piper Sandler lifted their target price on Pfizer from $18.50 to $24.00 in a research note on Friday, June 26th. Morgan Stanley decreased their target price on Pfizer from $43.00 to $36.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 2nd. Finally, Zacks Investment Research downgraded Pfizer from a “buy” rating to a “hold” rating and set a $40.00 target price on the stock. in a research note on Monday, May 4th. Ten investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $38.72.
NYSE:PFE traded up $0.55 during trading hours on Wednesday, reaching $35.79. The stock had a trading volume of 6,645,159 shares, compared to its average volume of 30,355,809. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.78 and a current ratio of 1.02. Pfizer Inc. has a 52 week low of $27.88 and a 52 week high of $43.23. The company has a 50 day moving average price of $34.60 and a two-hundred day moving average price of $35.94. The stock has a market capitalization of $195.72 billion, a PE ratio of 12.58, a PEG ratio of 2.65 and a beta of 0.68.
Pfizer (NYSE:PFE) last released its quarterly earnings data on Tuesday, April 28th. The biopharmaceutical company reported $0.80 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.09. Pfizer had a return on equity of 25.76% and a net margin of 31.17%. The business had revenue of $12.03 billion for the quarter, compared to the consensus estimate of $11.38 billion. During the same quarter in the previous year, the company posted $0.85 EPS. The company’s revenue was down 8.3% compared to the same quarter last year. Equities research analysts predict that Pfizer Inc. will post 2.88 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, July 31st will be issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.25%. The ex-dividend date of this dividend is Thursday, July 30th. Pfizer’s dividend payout ratio (DPR) is 51.53%.
In other news, EVP Douglas M. Lankler sold 65,000 shares of Pfizer stock in a transaction that occurred on Wednesday, April 29th. The stock was sold at an average price of $37.85, for a total value of $2,460,250.00. Following the completion of the transaction, the executive vice president now owns 135,375 shares in the company, valued at approximately $5,123,943.75. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Jennifer B. Damico sold 2,181 shares of Pfizer stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $36.13, for a total value of $78,799.53. Following the completion of the transaction, the senior vice president now owns 7,542 shares of the company’s stock, valued at approximately $272,492.46. The disclosure for this sale can be found here. In the last quarter, insiders sold 69,362 shares of company stock valued at $2,622,691. Company insiders own 0.08% of the company’s stock.
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.
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