Pfizer, Inc. (NYSE:PFE) CEO Sells $3,296,300.00 in Stock
Pfizer, Inc. (NYSE:PFE) CEO Ian C. Read sold 96,950 shares of Pfizer stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $34.00, for a total transaction of $3,296,300.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Shares of Pfizer, Inc. (NYSE PFE) traded down 0.09% during midday trading on Tuesday, hitting $33.28. 16,032,777 shares of the stock were exchanged. The firm has a market capitalization of $198.61 billion, a price-to-earnings ratio of 24.35 and a beta of 1.00. Pfizer, Inc. has a 1-year low of $29.83 and a 1-year high of $35.38. The stock’s 50-day moving average price is $33.43 and its 200-day moving average price is $33.25.
Pfizer (NYSE:PFE) last posted its quarterly earnings data on Tuesday, August 1st. The biopharmaceutical company reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.02. The company had revenue of $12.90 billion during the quarter, compared to analysts’ expectations of $13.08 billion. Pfizer had a return on equity of 24.11% and a net margin of 15.84%. Pfizer’s revenue for the quarter was down 1.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.64 earnings per share. On average, analysts forecast that Pfizer, Inc. will post $2.56 EPS for the current year.
The business also recently declared 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 annualized dividend and a yield of 3.85%. The ex-dividend date is Wednesday, August 2nd. Pfizer’s dividend payout ratio is presently 94.12%.
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Several institutional investors have recently added to or reduced their stakes in the company. Norges Bank acquired a new position in Pfizer during the fourth quarter worth $1,896,890,000. Fisher Asset Management LLC raised its position 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 worth $1,143,248,000 after buying an additional 1,275,832 shares during the last quarter. Schwab Charles Investment Management Inc. raised its position in shares of Pfizer by 6.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 33,274,658 shares of the biopharmaceutical company’s stock worth $1,117,696,000 after buying an additional 2,013,835 shares during the last quarter. Legal & General Group Plc raised its position in shares of Pfizer by 0.9% in the second quarter. Legal & General Group Plc now owns 31,463,283 shares of the biopharmaceutical company’s stock worth $1,056,857,000 after buying an additional 292,839 shares during the last quarter. Finally, Macquarie Group Ltd. raised its position 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 worth $844,431,000 after buying an additional 228,405 shares during the last quarter. 70.10% of the stock is owned by hedge funds and other institutional investors.
A number of analysts have recently issued reports on the stock. Citigroup Inc. downgraded shares of Pfizer from a “neutral” rating to a “sell” rating and lowered their price objective for the company from $38.00 to $31.00 in a report on Tuesday, May 16th. BidaskClub upgraded shares of Pfizer from a “strong sell” rating to a “sell” rating in a report on Saturday. Jefferies Group LLC set a $35.00 price objective on shares of Pfizer and gave the company a “neutral” rating in a report on Wednesday, August 2nd. BMO Capital Markets raised shares of Pfizer from a “market perform” rating to an “outperform” rating and raised their target price for the company from $33.00 to $37.00 in a research note on Wednesday, August 2nd. Finally, Barclays PLC reissued a “buy” rating and issued a $38.00 target price on shares of Pfizer in a research note on Wednesday, May 3rd. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and ten have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $37.77.
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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