Daniel Devine & Co reduced its stake in shares of Pfizer, Inc. (NYSE:PFE) by 12.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 60,312 shares of the biopharmaceutical company’s stock after selling 8,424 shares during the period. Pfizer makes up 1.7% of Daniel Devine & Co’s portfolio, making the stock its 12th largest position. Daniel Devine & Co’s holdings in Pfizer were worth $2,026,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of PFE. Norges Bank purchased a new stake in shares of Pfizer during the fourth quarter valued at approximately $1,896,890,000. Fisher Asset Management LLC increased its stake in shares of Pfizer by 3.9% in the second quarter. Fisher Asset Management LLC now owns 34,035,362 shares of the biopharmaceutical company’s stock valued at $1,143,248,000 after buying an additional 1,275,832 shares during the period. Schwab Charles Investment Management Inc. increased its stake in shares of Pfizer by 1.2% in the first quarter. Schwab Charles Investment Management Inc. now owns 31,260,823 shares of the biopharmaceutical company’s stock valued at $1,069,433,000 after buying an additional 377,404 shares during the period. Macquarie Group Ltd. increased its stake in shares of Pfizer by 0.9% in the first quarter. Macquarie Group Ltd. now owns 24,683,746 shares of the biopharmaceutical company’s stock valued at $844,431,000 after buying an additional 228,405 shares during the period. Finally, Boston Partners increased its stake in shares of Pfizer by 7.3% in the first quarter. Boston Partners now owns 24,263,989 shares of the biopharmaceutical company’s stock valued at $830,071,000 after buying an additional 1,649,801 shares during the period. Institutional investors and hedge funds own 69.94% of the company’s stock.
Pfizer, Inc. (PFE) traded up 0.54% on Wednesday, reaching $33.33. 6,405,766 shares of the company were exchanged. Pfizer, Inc. has a 12-month low of $29.83 and a 12-month high of $35.38. The stock has a 50 day moving average of $33.27 and a 200 day moving average of $33.41. The firm has a market capitalization of $198.23 billion, a PE ratio of 24.38 and a beta of 1.00.
Pfizer (NYSE:PFE) last released its earnings results on Tuesday, August 1st. The biopharmaceutical company reported $0.67 EPS for the quarter, topping the Zacks’ consensus estimate of $0.65 by $0.02. Pfizer had a return on equity of 24.51% and a net margin of 15.84%. The company had revenue of $12.90 billion for the quarter, compared to analysts’ expectations of $13.08 billion. During the same period in the previous year, the business posted $0.64 EPS. The business’s revenue for the quarter was down 1.9% compared to the same quarter last year. Equities analysts anticipate that Pfizer, Inc. will post $2.56 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 4th will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 3.86%. The ex-dividend date is Wednesday, August 2nd. Pfizer’s payout ratio is presently 94.12%.
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A number of research firms have issued reports on PFE. Cowen and Company set a $43.00 target price on shares of Pfizer and gave the stock a “buy” rating in a research report on Monday, August 14th. Jefferies Group LLC reiterated a “hold” rating and issued a $35.00 target price (up previously from $34.00) on shares of Pfizer in a research report on Friday, July 14th. Berenberg Bank reiterated a “hold” rating and issued a $36.00 target price (down previously from $39.00) on shares of Pfizer in a research report on Tuesday, August 15th. Zacks Investment Research upgraded shares of Pfizer from a “sell” rating to a “hold” rating in a research report on Friday, July 14th. Finally, BidaskClub downgraded shares of Pfizer from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 13th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and ten have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $37.61.
In related news, CEO Ian C. Read sold 96,950 shares of the business’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $34.00, for a total value of $3,296,300.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Alexander R. Mackenzie sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $33.50, for a total value of $502,500.00. Following the completion of the sale, the insider now owns 151,474 shares of the company’s stock, valued at approximately $5,074,379. The disclosure for this sale can be found here. 0.06% of the stock is owned by insiders.
Pfizer Company Profile
Pfizer Inc (Pfizer) is a research-based global biopharmaceutical company. The Company is engaged in the discovery, development and manufacture of healthcare products. Its global portfolio includes medicines and vaccines, as well as consumer healthcare products. The Company manages its commercial operations through two business segments: Pfizer Innovative Health (IH) and Pfizer Essential Health (EH).
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