Fort Pitt Capital Group LLC cut its holdings in shares of Pfizer Inc. (NYSE:PFE) by 10.2% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 182,570 shares of the biopharmaceutical company’s stock after selling 20,755 shares during the period. Fort Pitt Capital Group LLC’s holdings in Pfizer were worth $6,624,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in PFE. W.G. Shaheen & Associates DBA Whitney & Co purchased a new stake in Pfizer during the first quarter valued at approximately $132,000. Braun Bostich & Associates Inc. purchased a new stake in Pfizer during the first quarter valued at approximately $139,000. Clearwater Capital Advisors LLC purchased a new stake in Pfizer during the first quarter valued at approximately $156,000. Goodwin Daniel L purchased a new stake in Pfizer during the second quarter valued at approximately $171,000. Finally, Bristol John W & Co. Inc. NY purchased a new stake in Pfizer during the first quarter valued at approximately $186,000. Hedge funds and other institutional investors own 68.96% of the company’s stock.
A number of research firms recently commented on PFE. ValuEngine raised shares of Pfizer from a “hold” rating to a “buy” rating in a research report on Tuesday, October 9th. Morningstar set a $46.00 price target on shares of Pfizer and gave the stock a “neutral” rating in a report on Tuesday, October 9th. Independent Research set a $48.00 price target on shares of Pfizer and gave the stock a “neutral” rating in a report on Thursday, October 4th. Barclays set a $40.00 price target on shares of Pfizer and gave the stock a “neutral” rating in a report on Friday, October 19th. Finally, Cantor Fitzgerald set a $45.00 price target on shares of Pfizer and gave the stock a “buy” rating in a report on Thursday, October 4th. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Pfizer has a consensus rating of “Hold” and an average price target of $42.67.
NYSE:PFE opened at $44.28 on Friday. The firm has a market capitalization of $256.03 billion, a PE ratio of 16.71, a price-to-earnings-growth ratio of 2.17 and a beta of 0.88. Pfizer Inc. has a 1-year low of $33.20 and a 1-year high of $45.81. The company has a current ratio of 1.16, a quick ratio of 0.91 and a debt-to-equity ratio of 0.41.
Pfizer (NYSE:PFE) last released its quarterly earnings data on Tuesday, October 30th. The biopharmaceutical company reported $0.78 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.75 by $0.03. The firm had revenue of $13.30 billion for the quarter, compared to analyst estimates of $13.53 billion. Pfizer had a net margin of 44.63% and a return on equity of 25.34%. The business’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.67 earnings per share. Research analysts predict that Pfizer Inc. will post 3 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 3rd. Stockholders of record on Friday, November 9th will be paid a $0.34 dividend. The ex-dividend date of this dividend is Thursday, November 8th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.07%. Pfizer’s payout ratio is currently 51.32%.
In other Pfizer news, major shareholder Pfizer Inc acquired 55,556 shares of the business’s stock in a transaction dated Monday, October 15th. The shares were purchased at an average price of $18.00 per share, for a total transaction of $1,000,008.00. Following the completion of the purchase, the insider now directly owns 21,976,484 shares of the company’s stock, valued at $395,576,712. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Laurie J. Olson sold 10,214 shares of the stock in a transaction on Monday, August 13th. The stock was sold at an average price of $41.00, for a total transaction of $418,774.00. Following the completion of the sale, 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. 0.06% of the stock is owned by corporate insiders.
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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