Edge Advisors LLC trimmed its holdings in Pfizer Inc. (NYSE:PFE) by 42.9% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 139,238 shares of the biopharmaceutical company’s stock after selling 104,522 shares during the quarter. Edge Advisors LLC’s holdings in Pfizer were worth $4,969,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in PFE. AE Wealth Management LLC raised its position in Pfizer by 3.6% in the third quarter. AE Wealth Management LLC now owns 74,123 shares of the biopharmaceutical company’s stock valued at $2,646,000 after purchasing an additional 2,586 shares during the last quarter. Chartwell Investment Partners LLC boosted its position in shares of Pfizer by 2.8% during the third quarter. Chartwell Investment Partners LLC now owns 596,315 shares of the biopharmaceutical company’s stock valued at $21,287,000 after buying an additional 16,345 shares during the last quarter. Roosevelt Investment Group Inc. boosted its position in shares of Pfizer by 16.8% during the third quarter. Roosevelt Investment Group Inc. now owns 481,090 shares of the biopharmaceutical company’s stock valued at $17,175,000 after buying an additional 69,374 shares during the last quarter. Regal Investment Advisors LLC lifted its holdings in Pfizer by 62.7% during the third quarter. Regal Investment Advisors LLC now owns 58,584 shares of the biopharmaceutical company’s stock worth $2,091,000 after acquiring an additional 22,580 shares during the period. Finally, Waldron LP lifted its holdings in Pfizer by 17.0% during the third quarter. Waldron LP now owns 22,444 shares of the biopharmaceutical company’s stock worth $801,000 after acquiring an additional 3,265 shares during the period. 69.87% of the stock is owned by institutional investors and hedge funds.
In related news, EVP Rady A. Johnson sold 8,000 shares of the business’s stock in a transaction 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 is accessible through the SEC website. Also, insider Alexander R. Mackenzie sold 6,750 shares of the business’s stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $37.00, for a total value of $249,750.00. Following the transaction, the insider now owns 103,458 shares of the company’s stock, valued at $3,827,946. The disclosure for this sale can be found here. Insiders own 0.06% of the company’s stock.
Pfizer (NYSE:PFE) last released its quarterly earnings data on Tuesday, January 30th. The biopharmaceutical company reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.06. Pfizer had a return on equity of 26.86% and a net margin of 40.55%. The company had revenue of $13.70 billion for the quarter, compared to analyst estimates of $13.67 billion. During the same period in the previous year, the company posted $0.47 EPS. The firm’s revenue for the quarter was up .6% compared to the same quarter last year. sell-side analysts predict that Pfizer Inc. will post 2.95 EPS for the current fiscal year.
Pfizer declared that its board has approved a stock buyback program on Monday, December 18th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the biopharmaceutical company to purchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.
The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 3.98%. 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 presently 38.64%.
A number of analysts recently commented on the company. JPMorgan Chase & Co. set a $39.00 price target on Pfizer and gave the stock a “buy” rating in a report on Wednesday, November 1st. Jefferies Group set a $39.00 target price on Pfizer and gave the company a “neutral” rating in a research note on Thursday, November 16th. Nord/LB restated a “neutral” rating on shares of Pfizer in a research note on Tuesday, January 2nd. Morgan Stanley set a $41.00 target price on Pfizer and gave the company a “buy” rating in a research note on Friday, January 5th. Finally, Berenberg Bank set a $36.00 target price on Pfizer and gave the company a “neutral” rating in a research note on Tuesday, October 31st. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and eleven have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $39.45.
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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