Belpointe Asset Management LLC increased its stake in shares of Pfizer Inc. (NYSE:PFE) by 7.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 90,078 shares of the biopharmaceutical company’s stock after buying an additional 6,491 shares during the quarter. Pfizer comprises approximately 0.6% of Belpointe Asset Management LLC’s investment portfolio, making the stock its 23rd biggest position. Belpointe Asset Management LLC’s holdings in Pfizer were worth $3,970,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in Pfizer by 1.5% during the third quarter. Vanguard Group Inc. now owns 441,792,969 shares of the biopharmaceutical company’s stock worth $19,469,816,000 after purchasing an additional 6,620,749 shares during the last quarter. WealthPLAN Partners LLC lifted its stake in Pfizer by 5.3% during the third quarter. WealthPLAN Partners LLC now owns 81,294 shares of the biopharmaceutical company’s stock worth $3,539,000 after purchasing an additional 4,085 shares during the last quarter. Matthew Goff Investment Advisor LLC bought a new stake in Pfizer during the third quarter worth $1,709,000. Morgan Stanley lifted its stake in Pfizer by 2.1% during the third quarter. Morgan Stanley now owns 55,493,846 shares of the biopharmaceutical company’s stock worth $2,445,614,000 after purchasing an additional 1,126,612 shares during the last quarter. Finally, Legal & General Group Plc lifted its stake in Pfizer by 1.1% during the third quarter. Legal & General Group Plc now owns 27,673,602 shares of the biopharmaceutical company’s stock worth $1,219,562,000 after purchasing an additional 309,817 shares during the last quarter. 68.61% of the stock is currently owned by institutional investors and hedge funds.
PFE has been the subject of several recent analyst reports. Cantor Fitzgerald set a $53.00 target price on Pfizer and gave the stock a “buy” rating in a research note on Sunday, December 30th. Credit Suisse Group upgraded Pfizer from a “neutral” rating to an “outperform” rating in a research note on Thursday, January 31st. Zacks Investment Research cut Pfizer from a “hold” rating to a “sell” rating in a research note on Friday, January 25th. Citigroup restated a “neutral” rating and set a $41.00 target price on shares of Pfizer in a research note on Wednesday, February 20th. Finally, UBS Group cut Pfizer from a “buy” rating to a “neutral” rating in a research note on Wednesday, January 23rd. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and seven have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $44.89.
In related news, EVP Douglas M. Lankler sold 38,800 shares of the stock in a transaction on Wednesday, January 30th. The stock was sold at an average price of $41.19, for a total value of $1,598,172.00. Following the completion of the sale, the executive vice president now directly owns 83,592 shares in the company, valued at $3,443,154.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mikael Dolsten sold 100,471 shares of the stock in a transaction on Friday, March 1st. The shares were sold at an average price of $43.56, for a total value of $4,376,516.76. Following the completion of the sale, the insider now owns 390,097 shares of the company’s stock, valued at $16,992,625.32. The disclosure for this sale can be found here. Insiders sold a total of 308,826 shares of company stock valued at $13,346,258 over the last quarter. 0.06% of the stock is owned by corporate insiders.
Shares of PFE opened at $41.78 on Friday. Pfizer Inc. has a 52 week low of $34.32 and a 52 week high of $46.47. The firm has a market capitalization of $248.71 billion, a PE ratio of 13.93, a PEG ratio of 2.39 and a beta of 0.76. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.57 and a quick ratio of 1.33.
Pfizer (NYSE:PFE) last announced its quarterly earnings results on Tuesday, January 29th. The biopharmaceutical company reported $0.64 EPS for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.01. Pfizer had a return on equity of 26.02% and a net margin of 20.79%. The company had revenue of $13.98 billion during the quarter, compared to analysts’ expectations of $13.92 billion. During the same period in the prior year, the company earned $0.62 EPS. Pfizer’s revenue was up 2.0% compared to the same quarter last year. As a group, analysts expect that Pfizer Inc. will post 2.86 EPS for the current year.
Pfizer announced that its board has authorized a share buyback plan on Friday, December 14th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the biopharmaceutical company to repurchase up to 3.8% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its stock is undervalued.
TRADEMARK VIOLATION NOTICE: “Belpointe Asset Management LLC Has $3.97 Million Position in Pfizer Inc. (PFE)” was first published by American Banking News and is owned by of American Banking News. If you are accessing this piece on another domain, it was illegally stolen and reposted in violation of United States & international trademark & copyright laws. The original version of this piece can be accessed at https://www.americanbankingnews.com/2019/03/17/belpointe-asset-management-llc-has-3-97-million-position-in-pfizer-inc-pfe.html.
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.
Recommended Story: Return on Equity (ROE)
Want to see what other hedge funds are holding PFE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pfizer Inc. (NYSE:PFE).
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.