Public Employees Retirement System of Ohio cut its stake in Pfizer Inc. (NYSE:PFE) by 2.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,078,276 shares of the biopharmaceutical company’s stock after selling 91,172 shares during the quarter. Pfizer makes up approximately 0.7% of Public Employees Retirement System of Ohio’s portfolio, making the stock its 20th largest holding. Public Employees Retirement System of Ohio owned approximately 0.07% of Pfizer worth $147,960,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of PFE. Naples Global Advisors LLC lifted its stake in Pfizer by 5.4% in the 2nd quarter. Naples Global Advisors LLC now owns 33,695 shares of the biopharmaceutical company’s stock worth $1,222,000 after purchasing an additional 1,712 shares in the last quarter. Steward Partners Investment Advisory LLC lifted its stake in Pfizer by 25.1% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 285,325 shares of the biopharmaceutical company’s stock worth $10,352,000 after purchasing an additional 57,176 shares in the last quarter. Destination Wealth Management lifted its stake in Pfizer by 962,667.3% in the 2nd quarter. Destination Wealth Management now owns 500,639 shares of the biopharmaceutical company’s stock worth $18,163,000 after purchasing an additional 500,587 shares in the last quarter. Sterling Capital Management LLC lifted its stake in Pfizer by 16.6% in the 2nd quarter. Sterling Capital Management LLC now owns 2,478,848 shares of the biopharmaceutical company’s stock worth $89,933,000 after purchasing an additional 353,212 shares in the last quarter. Finally, Pennsylvania Trust Co lifted its stake in Pfizer by 10.9% in the 2nd quarter. Pennsylvania Trust Co now owns 681,255 shares of the biopharmaceutical company’s stock worth $28,127,000 after purchasing an additional 67,151 shares in the last quarter. 69.42% of the stock is currently owned by hedge funds and other institutional investors.
In other news, major shareholder Pfizer Inc purchased 55,556 shares of Pfizer stock in a transaction dated Monday, October 15th. The shares were purchased at an average price of $18.00 per share, with a total value of $1,000,008.00. Following the transaction, the insider now owns 21,976,484 shares in the company, valued at $395,576,712. The purchase was disclosed in a document filed with the SEC, which is available through this link. 0.06% of the stock is currently owned by insiders.
PFE stock opened at $43.92 on Friday. The company has a market cap of $268.71 billion, a PE ratio of 16.57, a PEG ratio of 2.25 and a beta of 0.88. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.15 and a current ratio of 1.43. Pfizer Inc. has a one year low of $33.20 and a one year high of $46.47.
Pfizer (NYSE:PFE) last released its quarterly earnings results on Tuesday, October 30th. The biopharmaceutical company reported $0.78 EPS for the quarter, beating the Thomson Reuters’ 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 25.26%. The business’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.67 EPS. Analysts forecast that Pfizer Inc. will post 3 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, December 3rd. Stockholders of record on Friday, November 9th were given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 3.10%. The ex-dividend date of this dividend was Thursday, November 8th. Pfizer’s payout ratio is presently 51.32%.
A number of research firms have weighed in on PFE. Atlantic Securities reissued a “buy” rating and issued a $54.00 target price on shares of Pfizer in a research note on Tuesday, November 27th. Credit Suisse Group set a $42.00 target price on shares of Pfizer and gave the stock a “hold” rating in a research note on Monday, November 26th. Cantor Fitzgerald reissued a “buy” rating and issued a $53.00 target price on shares of Pfizer in a research note on Monday, November 19th. Citigroup raised their target price on shares of Pfizer from $34.00 to $37.00 and gave the stock a “sell” rating in a research note on Tuesday, November 6th. Finally, BMO Capital Markets lowered shares of Pfizer from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $47.00 to $46.00 in a research note on Thursday, November 1st. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $43.27.
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Pfizer Company Profile
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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