ING Groep NV lessened its position in shares of Pfizer Inc. (NYSE:PFE) by 60.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 422,862 shares of the biopharmaceutical company’s stock after selling 658,515 shares during the period. ING Groep NV’s holdings in Pfizer were worth $15,007,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Ballew Advisors Inc purchased a new stake in Pfizer during the 1st quarter worth about $102,000. Earnest Partners LLC purchased a new stake in Pfizer during the 4th quarter worth about $105,000. First Dallas Securities Inc. purchased a new stake in Pfizer during the 4th quarter worth about $118,000. Woodard & Co. Asset Management Group Inc. ADV purchased a new stake in Pfizer during the 4th quarter worth about $118,000. Finally, Delpha Capital Management LLC purchased a new stake in Pfizer during the 4th quarter worth about $126,000. 69.45% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Pfizer stock opened at $37.21 on Thursday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.98 and a current ratio of 1.27. The stock has a market cap of $221.21 billion, a PE ratio of 14.04, a PEG ratio of 1.84 and a beta of 0.93. Pfizer Inc. has a 12 month low of $32.32 and a 12 month high of $39.43.
Pfizer (NYSE:PFE) last announced its quarterly earnings data on Tuesday, May 1st. The biopharmaceutical company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.74 by $0.03. The firm had revenue of $12.91 billion for the quarter, compared to analyst estimates of $13.14 billion. Pfizer had a return on equity of 25.29% and a net margin of 41.29%. The company’s revenue was up 1.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.69 EPS. research analysts forecast that Pfizer Inc. will post 2.96 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 4th. Stockholders of record on Friday, August 3rd will be given a dividend of $0.34 per share. The ex-dividend date is Thursday, August 2nd. This represents a $1.36 annualized dividend and a dividend yield of 3.65%. Pfizer’s dividend payout ratio (DPR) is presently 51.32%.
In other news, CEO Ian C. Read sold 132,312 shares of the stock in a transaction dated Tuesday, May 1st. The stock was sold at an average price of $36.01, for a total transaction of $4,764,555.12. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director W Don Cornwell sold 5,223 shares of the firm’s stock in a transaction that occurred on Monday, June 4th. The stock was sold at an average price of $36.40, for a total value of $190,117.20. The disclosure for this sale can be found here. Insiders have sold a total of 156,535 shares of company stock worth $5,647,222 over the last quarter. Corporate insiders own 0.06% of the company’s stock.
A number of brokerages recently issued reports on PFE. Cantor Fitzgerald set a $45.00 price objective on Pfizer and gave the stock a “buy” rating in a report on Wednesday. Zacks Investment Research raised Pfizer from a “hold” rating to a “buy” rating and set a $41.00 price objective on the stock in a report on Tuesday, July 3rd. Jefferies Financial Group reissued a “neutral” rating and set a $39.00 price objective on shares of Pfizer in a report on Monday. JPMorgan Chase & Co. set a $42.00 target price on Pfizer and gave the stock a “buy” rating in a research note on Wednesday. Finally, Credit Suisse Group set a $39.00 target price on Pfizer and gave the stock a “neutral” rating in a research note on Monday, June 11th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and eleven have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $40.32.
Pfizer Inc discovers, develops, manufactures, and sells healthcare products worldwide. It operates in two segments, Pfizer Innovative Health (IH) and Pfizer Essential Health (EH). The IH segment focuses on the development and commercialization of medicines and vaccines, and consumer healthcare products in various therapeutic areas, including internal medicine, vaccines, oncology, inflammation and immunology, and rare diseases, as well as consumer healthcare, such as over-the-counter brands comprising dietary supplements, pain management, gastrointestinal, and respiratory and personal care.
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