Barrett Asset Management LLC lessened its stake in Pfizer Inc. (NYSE:PFE) by 8.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 132,983 shares of the biopharmaceutical company’s stock after selling 11,503 shares during the quarter. Barrett Asset Management LLC’s holdings in Pfizer were worth $4,825,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PFE. Ballew Advisors Inc acquired a new stake in Pfizer during the 1st quarter valued at $102,000. W.G. Shaheen & Associates DBA Whitney & Co acquired a new stake in Pfizer during the 1st quarter valued at $132,000. Bray Capital Advisors acquired a new stake in Pfizer during the 1st quarter valued at $139,000. Braun Bostich & Associates Inc. acquired a new stake in Pfizer during the 1st quarter valued at $139,000. Finally, Clearwater Capital Advisors LLC acquired a new stake in Pfizer during the 1st quarter valued at $156,000. 68.95% of the stock is owned by institutional investors.
PFE stock opened at $43.78 on Friday. The company has a current ratio of 1.16, a quick ratio of 0.91 and a debt-to-equity ratio of 0.41. The firm has a market cap of $262.34 billion, a price-to-earnings ratio of 16.33, a PEG ratio of 2.23 and a beta of 0.96. Pfizer Inc. has a fifty-two week low of $33.20 and a fifty-two week high of $45.81.
Pfizer (NYSE:PFE) last posted its quarterly earnings data on Tuesday, July 31st. The biopharmaceutical company reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.07. Pfizer had a return on equity of 25.35% and a net margin of 42.35%. The firm had revenue of $13.47 billion for the quarter, compared to analysts’ expectations of $13.30 billion. During the same quarter last year, the business earned $0.67 EPS. The company’s quarterly revenue was up 4.4% compared to the same quarter last year. As a group, equities analysts expect that Pfizer Inc. will post 2.99 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 3rd. Investors of record on Friday, November 9th will be given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date is Thursday, November 8th. Pfizer’s payout ratio is currently 51.32%.
In related news, CEO Ian C. Read sold 486,753 shares of the firm’s stock in a transaction on Monday, July 16th. The stock was sold at an average price of $37.36, for a total value of $18,185,092.08. Following the transaction, the chief executive officer now owns 1,145,693 shares in the company, valued at $42,803,090.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Laurie J. Olson sold 10,214 shares of the firm’s stock in a transaction on Monday, August 13th. The stock was sold at an average price of $41.00, for a total value of $418,774.00. Following the completion of the transaction, the insider now owns 72,672 shares in the company, valued at approximately $2,979,552. The disclosure for this sale can be found here. Insiders sold 761,230 shares of company stock worth $29,054,690 in the last 90 days. 0.06% of the stock is owned by company insiders.
Several equities research analysts have issued reports on PFE shares. Cantor Fitzgerald set a $45.00 price target on Pfizer and gave the company a “buy” rating in a report on Thursday, October 4th. Morgan Stanley set a $45.00 price target on Pfizer and gave the company a “buy” rating in a report on Wednesday, August 29th. Credit Suisse Group raised their price target on Pfizer from $39.00 to $40.00 and gave the company a “neutral” rating in a report on Wednesday, August 1st. Bank of America raised their price target on Pfizer from $42.00 to $43.00 and gave the company a “buy” rating in a report on Wednesday, August 1st. Finally, JPMorgan Chase & Co. reiterated a “$37.66” rating on shares of Pfizer in a research report on Wednesday, July 18th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nine have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $42.40.
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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