Nippon Life Insurance Co. Trims Holdings in Pfizer Inc. (PFE)

Nippon Life Insurance Co. trimmed its position in Pfizer Inc. (NYSE:PFE) by 1.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,216,103 shares of the biopharmaceutical company’s stock after selling 18,907 shares during the quarter. Pfizer accounts for approximately 0.8% of Nippon Life Insurance Co.’s portfolio, making the stock its 18th largest holding. Nippon Life Insurance Co.’s holdings in Pfizer were worth $43,415,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in PFE. Janus Henderson Group PLC lifted its holdings in shares of Pfizer by 243.5% in the 2nd quarter. Janus Henderson Group PLC now owns 13,175,187 shares of the biopharmaceutical company’s stock worth $442,574,000 after purchasing an additional 9,339,749 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Pfizer by 2.3% in the 2nd quarter. Vanguard Group Inc. now owns 418,639,111 shares of the biopharmaceutical company’s stock worth $14,062,088,000 after purchasing an additional 9,239,499 shares during the last quarter. Renaissance Technologies LLC bought a new stake in shares of Pfizer in the 2nd quarter worth approximately $268,389,000. Canada Pension Plan Investment Board raised its stake in Pfizer by 249.6% during the 2nd quarter. Canada Pension Plan Investment Board now owns 10,713,626 shares of the biopharmaceutical company’s stock valued at $359,871,000 after acquiring an additional 7,649,416 shares in the last quarter. Finally, Parametric Portfolio Associates LLC raised its stake in Pfizer by 42.1% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 17,818,368 shares of the biopharmaceutical company’s stock valued at $598,519,000 after acquiring an additional 5,281,314 shares in the last quarter. Institutional investors and hedge funds own 69.74% of the company’s stock.

PFE has been the topic of several recent analyst reports. BMO Capital Markets set a $37.00 target price on Pfizer and gave the company a “buy” rating in a research note on Tuesday, October 10th. ValuEngine raised Pfizer from a “hold” rating to a “buy” rating in a research note on Friday, October 6th. Zacks Investment Research cut Pfizer from a “buy” rating to a “hold” rating in a report on Wednesday, October 11th. Deutsche Bank set a $38.00 target price on Pfizer and gave the stock a “buy” rating in a report on Wednesday, October 11th. Finally, Morgan Stanley upgraded Pfizer from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $35.00 to $39.00 in a report on Wednesday, September 20th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $38.83.

In related news, EVP Rady A. Johnson sold 8,000 shares of the stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $37.07, for a total transaction of $296,560.00. Following the sale, the executive vice president now directly owns 46,963 shares in the company, valued at approximately $1,740,918.41. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Alexander R. Mackenzie sold 14,700 shares of the stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $35.30, for a total value of $518,910.00. Following the sale, the insider now owns 117,432 shares in the company, valued at $4,145,349.60. The disclosure for this sale can be found here. Insiders have sold 29,450 shares of company stock worth $1,065,220 over the last 90 days. Corporate insiders own 0.06% of the company’s stock.

Shares of Pfizer Inc. (PFE) opened at $36.56 on Friday. Pfizer Inc. has a 12-month low of $30.90 and a 12-month high of $37.35. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.43 and a quick ratio of 1.15. The firm has a market capitalization of $217,920.00, a PE ratio of 22.43, a price-to-earnings-growth ratio of 2.46 and a beta of 1.01.

Pfizer (NYSE:PFE) last posted its quarterly earnings data on Tuesday, October 31st. The biopharmaceutical company reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.02. Pfizer had a return on equity of 25.41% and a net margin of 18.69%. The business had revenue of $13.17 billion during the quarter, compared to analysts’ expectations of $13.17 billion. During the same quarter in the previous year, the firm earned $0.61 EPS. The firm’s revenue was up .9% compared to the same quarter last year. sell-side analysts expect that Pfizer Inc. will post 2.59 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Friday, February 2nd will be paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 3.72%. This is a positive change from Pfizer’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Thursday, February 1st. Pfizer’s payout ratio is currently 78.53%.

Pfizer announced that its board has approved a share buyback program on Monday, December 18th that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the biopharmaceutical company to repurchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

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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).

Institutional Ownership by Quarter for Pfizer (NYSE:PFE)

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