Hexavest Inc. raised its stake in Pfizer Inc. (NYSE:PFE) by 1.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,927,838 shares of the biopharmaceutical company’s stock after purchasing an additional 129,181 shares during the period. Pfizer makes up approximately 2.9% of Hexavest Inc.’s holdings, making the stock its 5th biggest position. Hexavest Inc. owned 0.12% of Pfizer worth $250,926,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of the business. Mckinley Capital Management LLC Delaware bought a new position in shares of Pfizer during the 2nd quarter worth about $103,000. Herndon Capital Management LLC bought a new position in shares of Pfizer during the 2nd quarter worth about $120,000. Americafirst Capital Management LLC bought a new position in shares of Pfizer during the 3rd quarter worth about $127,000. Private Vista LLC lifted its holdings in shares of Pfizer by 2,277.3% during the 2nd quarter. Private Vista LLC now owns 199,317 shares of the biopharmaceutical company’s stock worth $133,000 after acquiring an additional 190,933 shares during the period. Finally, Lipe & Dalton lifted its holdings in shares of Pfizer by 6.9% during the 2nd quarter. Lipe & Dalton now owns 4,626 shares of the biopharmaceutical company’s stock worth $155,000 after acquiring an additional 300 shares during the period. 71.41% of the stock is owned by hedge funds and other institutional investors.
Pfizer Inc. (PFE) opened at $36.61 on Tuesday. Pfizer Inc. has a 1-year low of $31.67 and a 1-year high of $39.43. The stock has a market cap of $217,930.00, a PE ratio of 20.92, a P/E/G ratio of 2.07 and a beta of 0.91. The company has a current ratio of 1.35, a quick ratio of 1.10 and a debt-to-equity ratio of 0.47.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 1st. Shareholders of record on Friday, February 2nd were given a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 3.71%. The ex-dividend date of this dividend was Thursday, February 1st. This is a boost from Pfizer’s previous quarterly dividend of $0.32. Pfizer’s dividend payout ratio (DPR) is presently 77.71%.
Pfizer announced that its board has authorized a stock repurchase plan on Monday, December 18th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the biopharmaceutical company to reacquire shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.
PFE has been the subject of a number of analyst reports. BMO Capital Markets set a $39.00 price objective on shares of Pfizer and gave the stock a “buy” rating in a report on Friday, December 15th. UBS Group set a $40.00 price objective on shares of Pfizer and gave the stock a “buy” rating in a report on Wednesday, December 6th. Deutsche Bank set a $38.00 price objective on shares of Pfizer and gave the stock a “buy” rating in a report on Wednesday, December 6th. Vetr raised shares of Pfizer from a “hold” rating to a “buy” rating and set a $38.82 price objective for the company in a report on Thursday, November 23rd. Finally, Morgan Stanley set a $41.00 price objective on shares of Pfizer and gave the stock a “buy” rating in a report on Friday, January 5th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and eleven have assigned a buy rating to the company. Pfizer presently has an average rating of “Hold” and an average target price of $39.40.
In other Pfizer news, Director W Don Cornwell sold 1,758 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $36.79, for a total value of $64,676.82. Following the completion of the sale, the director now owns 1,000 shares in the company, valued at approximately $36,790. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Mikael Dolsten sold 69,699 shares of the firm’s stock in a transaction dated Friday, March 9th. The shares were sold at an average price of $36.59, for a total transaction of $2,550,286.41. Following the completion of the sale, the insider now owns 120,784 shares of the company’s stock, valued at approximately $4,419,486.56. The disclosure for this sale can be found here. Insiders sold a total of 185,464 shares of company stock valued at $6,767,939 in the last 90 days. Corporate insiders own 0.06% of the company’s stock.
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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