Blume Capital Management Inc. Boosts Stock Holdings in Pfizer Inc. (NYSE:PFE)

Blume Capital Management Inc. raised its holdings in shares of Pfizer Inc. (NYSE:PFE) by 41.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 122,512 shares of the biopharmaceutical company’s stock after buying an additional 36,098 shares during the period. Pfizer comprises approximately 1.8% of Blume Capital Management Inc.’s portfolio, making the stock its 21st largest position. Blume Capital Management Inc.’s holdings in Pfizer were worth $4,798,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of PFE. Ameriprise Financial Inc. boosted its position in Pfizer by 111.3% during the first quarter. Ameriprise Financial Inc. now owns 17,940,336 shares of the biopharmaceutical company’s stock valued at $649,995,000 after buying an additional 9,451,863 shares during the period. BlackRock Inc. boosted its position in Pfizer by 2.2% during the first quarter. BlackRock Inc. now owns 405,733,970 shares of the biopharmaceutical company’s stock valued at $14,699,742,000 after buying an additional 8,760,458 shares during the period. Canada Pension Plan Investment Board boosted its holdings in shares of Pfizer by 125.2% during the first quarter. Canada Pension Plan Investment Board now owns 13,765,773 shares of the biopharmaceutical company’s stock worth $498,734,000 after purchasing an additional 7,654,145 shares during the period. Franklin Resources Inc. boosted its holdings in shares of Pfizer by 39.6% during the first quarter. Franklin Resources Inc. now owns 26,553,208 shares of the biopharmaceutical company’s stock worth $962,030,000 after purchasing an additional 7,532,823 shares during the period. Finally, Bank of Nova Scotia boosted its holdings in shares of Pfizer by 113.1% during the first quarter. Bank of Nova Scotia now owns 7,816,581 shares of the biopharmaceutical company’s stock worth $283,193,000 after purchasing an additional 4,148,877 shares during the period. Institutional investors and hedge funds own 64.93% of the company’s stock.

In other Pfizer news, SVP Jennifer B. Damico sold 1,661 shares of Pfizer stock in a transaction on Friday, August 13th. The shares were sold at an average price of $48.30, for a total value of $80,226.30. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Jennifer B. Damico sold 2,500 shares of Pfizer stock in a transaction on Friday, July 30th. The shares were sold at an average price of $42.86, for a total transaction of $107,150.00. Following the completion of the sale, the senior vice president now owns 11,430 shares in the company, valued at $489,889.80. The disclosure for this sale can be found here. 0.05% of the stock is currently owned by insiders.

Shares of Pfizer stock traded up $0.43 on Wednesday, hitting $45.14. 388,203 shares of the company’s stock were exchanged, compared to its average volume of 30,836,189. The company has a 50-day simple moving average of $44.74 and a 200-day simple moving average of $40.35. The stock has a market capitalization of $253.09 billion, a PE ratio of 19.18, a PEG ratio of 1.58 and a beta of 0.74. Pfizer Inc. has a 1 year low of $33.36 and a 1 year high of $51.86. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.12 and a current ratio of 1.37.

Pfizer (NYSE:PFE) last issued its quarterly earnings results on Wednesday, July 28th. The biopharmaceutical company reported $1.07 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.97 by $0.10. The business had revenue of $18.98 billion for the quarter, compared to analysts’ expectations of $17.54 billion. Pfizer had a net margin of 23.06% and a return on equity of 26.49%. During the same quarter last year, the company posted $0.78 EPS. On average, analysts expect that Pfizer Inc. will post 4.12 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 7th. Investors of record on Friday, July 30th were paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.46%. The ex-dividend date of this dividend was Thursday, July 29th. Pfizer’s dividend payout ratio (DPR) is 70.27%.

A number of analysts have recently weighed in on the stock. Truist assumed coverage on shares of Pfizer in a report on Tuesday, July 27th. They set a “buy” rating and a $43.00 target price for the company. The Goldman Sachs Group set a $48.00 target price on shares of Pfizer in a research note on Thursday, July 29th. Berenberg Bank reaffirmed a “neutral” rating and set a $43.00 target price on shares of Pfizer in a research note on Tuesday, June 15th. Mizuho raised their target price on shares of Pfizer from $42.00 to $43.00 and gave the company a “neutral” rating in a research note on Friday, July 30th. Finally, Royal Bank of Canada set a $44.00 price target on shares of Pfizer in a research report on Thursday, July 29th. Eleven analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $42.77.

Pfizer Profile

Pfizer Inc is a research-based global biopharmaceutical company. It engages in the discovery, development, manufacture, marketing, sales and distribution of biopharmaceutical products worldwide. The firm work across developed and emerging markets to advance wellness, prevention, treatments and cures that challenge the most feared diseases.

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Institutional Ownership by Quarter for Pfizer (NYSE:PFE)

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