Pfizer, Inc. (PFE) Announces Quarterly Earnings Results
Pfizer, Inc. (NYSE:PFE) posted its quarterly earnings data on Tuesday. The biopharmaceutical company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.65 by $0.02, Bloomberg Earnings reports. The company had revenue of $13.17 billion during the quarter, compared to analyst estimates of $13.17 billion. Pfizer had a net margin of 15.84% and a return on equity of 24.51%. Pfizer’s quarterly revenue was up .9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.61 earnings per share. Pfizer updated its FY17 guidance to $2.58-2.62 EPS.
Pfizer (PFE) traded up 1.2268% during trading on Wednesday, hitting $35.4901. 2,515,093 shares of the stock traded hands. The company’s 50 day moving average price is $35.86 and its 200 day moving average price is $33.92. Pfizer has a 12 month low of $29.83 and a 12 month high of $36.78. The company has a market cap of $211.07 billion, a P/E ratio of 25.9620 and a beta of 1.00.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Friday, November 10th will be issued a dividend of $0.32 per share. The ex-dividend date of this dividend is Thursday, November 9th. This represents a $1.28 annualized dividend and a dividend yield of 3.65%. Pfizer’s dividend payout ratio (DPR) is currently 94.12%.
Several research analysts have commented on PFE shares. UBS AG reaffirmed a “buy” rating and set a $38.00 price objective on shares of Pfizer in a research note on Monday, July 31st. Cowen and Company set a $43.00 price objective on shares of Pfizer and gave the stock a “buy” rating in a research note on Monday, July 10th. Sanford C. Bernstein set a $39.00 price objective on shares of Pfizer and gave the stock a “buy” rating in a research note on Monday, July 17th. BMO Capital Markets reissued a “buy” rating and set a $37.00 target price on shares of Pfizer in a research note on Wednesday, September 6th. Finally, Zacks Investment Research raised shares of Pfizer from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a research note on Tuesday, October 3rd. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have assigned a buy rating to the stock. Pfizer presently has an average rating of “Hold” and a consensus price target of $38.32.
In other news, CEO Ian C. Read sold 96,950 shares of the firm’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $34.00, for a total transaction of $3,296,300.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Alexander R. Mackenzie sold 7,350 shares of the firm’s stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $34.00, for a total value of $249,900.00. Following the sale, the insider now directly owns 132,124 shares in the company, valued at approximately $4,492,216. The disclosure for this sale can be found here. Insiders have sold a total of 464,521 shares of company stock worth $15,813,961 in the last three months. Corporate insiders own 0.06% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Pfizer by 2.3% during the 2nd quarter. Vanguard Group Inc. now owns 418,639,111 shares of the biopharmaceutical company’s stock worth $14,062,088,000 after acquiring an additional 9,239,499 shares in the last quarter. Franklin Resources Inc. raised its position in shares of Pfizer by 0.9% during the 2nd quarter. Franklin Resources Inc. now owns 46,167,213 shares of the biopharmaceutical company’s stock worth $1,550,754,000 after acquiring an additional 389,629 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Pfizer by 4.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 44,286,544 shares of the biopharmaceutical company’s stock worth $1,487,617,000 after acquiring an additional 2,028,313 shares in the last quarter. LSV Asset Management raised its position in shares of Pfizer by 0.6% during the 2nd quarter. LSV Asset Management now owns 33,275,572 shares of the biopharmaceutical company’s stock worth $1,117,726,000 after acquiring an additional 199,100 shares in the last quarter. Finally, Nordea Investment Management AB raised its position in shares of Pfizer by 0.8% during the 2nd quarter. Nordea Investment Management AB now owns 27,041,967 shares of the biopharmaceutical company’s stock worth $908,340,000 after acquiring an additional 220,756 shares in the last quarter. 69.01% of the stock is currently owned by institutional investors and hedge funds.
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).
Receive News & Ratings for Pfizer Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pfizer Inc. and related companies with MarketBeat.com's FREE daily email newsletter.