Oliver Luxxe Assets LLC cut its position in shares of Pfizer Inc. (NYSE:PFE) by 1.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 122,913 shares of the biopharmaceutical company’s stock after selling 1,419 shares during the period. Pfizer accounts for about 2.7% of Oliver Luxxe Assets LLC’s investment portfolio, making the stock its 9th largest position. Oliver Luxxe Assets LLC’s holdings in Pfizer were worth $4,452,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of PFE. Beach Investment Management LLC. bought a new position in shares of Pfizer in the 2nd quarter valued at approximately $5,214,000. Grisanti Capital Management LLC raised its stake in shares of Pfizer by 3.7% in the 2nd quarter. Grisanti Capital Management LLC now owns 101,155 shares of the biopharmaceutical company’s stock valued at $3,397,000 after acquiring an additional 3,640 shares in the last quarter. 440 Investment Group LLC raised its stake in shares of Pfizer by 131.7% in the 2nd quarter. 440 Investment Group LLC now owns 34,156 shares of the biopharmaceutical company’s stock valued at $1,147,000 after acquiring an additional 19,414 shares in the last quarter. Westchester Capital Management Inc. raised its stake in shares of Pfizer by 11.6% in the 2nd quarter. Westchester Capital Management Inc. now owns 200,269 shares of the biopharmaceutical company’s stock valued at $6,727,000 after acquiring an additional 20,762 shares in the last quarter. Finally, Convergence Investment Partners LLC raised its stake in shares of Pfizer by 2.6% in the 2nd quarter. Convergence Investment Partners LLC now owns 265,176 shares of the biopharmaceutical company’s stock valued at $8,907,000 after acquiring an additional 6,761 shares in the last quarter. 71.41% of the stock is owned by institutional investors.
Shares of Pfizer Inc. (NYSE:PFE) opened at $36.75 on Wednesday. Pfizer Inc. has a fifty-two week low of $31.67 and a fifty-two week high of $39.43. The firm has a market capitalization of $218,770.00, a P/E ratio of 21.00, a PEG 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 company also recently disclosed a quarterly dividend, which was paid on Thursday, March 1st. Stockholders of record on Friday, February 2nd were issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 3.70%. The ex-dividend date of this dividend was Thursday, February 1st. This is a positive change from Pfizer’s previous quarterly dividend of $0.32. Pfizer’s dividend payout ratio (DPR) is presently 77.71%.
Pfizer announced that its Board of Directors has approved a stock buyback plan on Monday, December 18th that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the biopharmaceutical company to reacquire shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.
A number of research analysts recently weighed in on PFE shares. Jefferies Group set a $39.00 price objective on Pfizer and gave the company a “neutral” rating in a research note on Thursday, November 16th. Vetr raised Pfizer from a “hold” rating to a “buy” rating and set a $38.82 target price on the stock in a report on Thursday, November 23rd. BMO Capital Markets set a $39.00 target price on Pfizer and gave the company a “buy” rating in a report on Saturday, November 25th. Deutsche Bank set a $38.00 target price on Pfizer and gave the company a “buy” rating in a report on Wednesday, December 6th. Finally, UBS Group set a $40.00 target price on Pfizer and gave the company a “buy” rating in a report on Wednesday, December 6th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and eleven have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $39.40.
In related news, insider Alexander R. Mackenzie sold 6,750 shares of the business’s stock in a transaction on Friday, December 15th. The stock was sold at an average price of $37.00, for a total value of $249,750.00. Following the sale, the insider now owns 103,458 shares of the company’s stock, valued at approximately $3,827,946. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director W Don Cornwell sold 1,758 shares of the business’s stock in a transaction on 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 directly owns 1,000 shares in the company, valued at approximately $36,790. The disclosure for this sale can be found here. Insiders have sold a total of 185,464 shares of company stock worth $6,767,939 in the last three months. 0.06% of the stock is owned by insiders.
COPYRIGHT VIOLATION NOTICE: This story was first published by American Banking News and is owned by of American Banking News. If you are accessing this story on another site, it was copied illegally and reposted in violation of U.S. and international copyright & trademark law. The original version of this story can be viewed at https://www.americanbankingnews.com/2018/03/14/oliver-luxxe-assets-llc-cuts-stake-in-pfizer-inc-pfe.html.
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 Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pfizer and related companies with MarketBeat.com's FREE daily email newsletter.