Buckingham Capital Management Inc. cut its stake in Pfizer Inc. (NYSE:PFE) by 18.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 82,301 shares of the biopharmaceutical company’s stock after selling 18,307 shares during the period. Buckingham Capital Management Inc.’s holdings in Pfizer were worth $3,627,000 as of its most recent SEC filing.
Other large investors also recently made changes to their positions in the company. Chase Investment Counsel Corp raised its stake in shares of Pfizer by 16.2% during the third quarter. Chase Investment Counsel Corp now owns 8,384 shares of the biopharmaceutical company’s stock valued at $369,000 after acquiring an additional 1,169 shares during the last quarter. Schaper Benz & Wise Investment Counsel Inc. WI raised its stake in shares of Pfizer by 0.5% during the third quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 228,630 shares of the biopharmaceutical company’s stock valued at $10,076,000 after acquiring an additional 1,170 shares during the last quarter. Clean Yield Group raised its stake in shares of Pfizer by 1.9% during the third quarter. Clean Yield Group now owns 64,375 shares of the biopharmaceutical company’s stock valued at $2,837,000 after acquiring an additional 1,170 shares during the last quarter. Adams Asset Advisors LLC raised its stake in shares of Pfizer by 0.8% during the third quarter. Adams Asset Advisors LLC now owns 157,717 shares of the biopharmaceutical company’s stock valued at $6,951,000 after acquiring an additional 1,182 shares during the last quarter. Finally, Exeter Financial LLC raised its stake in shares of Pfizer by 3.9% during the second quarter. Exeter Financial LLC now owns 31,817 shares of the biopharmaceutical company’s stock valued at $1,154,000 after acquiring an additional 1,195 shares during the last quarter. Institutional investors own 68.61% of the company’s stock.
In other Pfizer news, insider Mikael Dolsten sold 149,553 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $43.55, for a total transaction of $6,513,033.15. Following the completion of the transaction, the insider now owns 390,097 shares of the company’s stock, valued at $16,988,724.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Douglas M. Lankler sold 38,800 shares of the firm’s stock in a transaction that occurred on Wednesday, January 30th. The shares were sold at an average price of $41.19, for a total transaction of $1,598,172.00. Following the transaction, the executive vice president now directly owns 83,592 shares of the company’s stock, valued at approximately $3,443,154.48. The disclosure for this sale can be found here. Insiders have sold 308,826 shares of company stock valued at $13,346,258 in the last ninety days. Insiders own 0.06% of the company’s stock.
Several brokerages have recently commented on PFE. Zacks Investment Research downgraded shares of Pfizer from a “hold” rating to a “sell” rating in a research note on Friday, January 25th. Credit Suisse Group set a $42.00 price target 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 price target on shares of Pfizer in a research note on Monday, November 19th. Atlantic Securities reissued a “buy” rating and issued a $54.00 price target on shares of Pfizer in a research note on Tuesday, November 27th. Finally, ValuEngine downgraded shares of Pfizer from a “buy” rating to a “hold” rating in a research note on Thursday, January 24th. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and seven have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $44.89.
Shares of NYSE PFE opened at $41.78 on Friday. Pfizer Inc. has a fifty-two week low of $34.32 and a fifty-two week high of $46.47. The company has a market cap of $248.71 billion, a price-to-earnings ratio of 13.93, a price-to-earnings-growth ratio of 2.39 and a beta of 0.76. The company has a quick ratio of 1.33, a current ratio of 1.57 and a debt-to-equity ratio of 0.52.
Pfizer (NYSE:PFE) last announced its earnings results on Tuesday, January 29th. The biopharmaceutical company reported $0.64 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.01. Pfizer had a net margin of 20.79% and a return on equity of 26.02%. The business had revenue of $13.98 billion during the quarter, compared to the consensus estimate of $13.92 billion. During the same quarter last year, the firm earned $0.62 earnings per share. The business’s revenue for the quarter was up 2.0% on a year-over-year basis. On average, sell-side analysts anticipate that Pfizer Inc. will post 2.86 EPS for the current year.
Pfizer declared that its Board of Directors has authorized a share buyback plan on Friday, December 14th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the biopharmaceutical company to buy up to 3.8% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.
WARNING: “Buckingham Capital Management Inc. Cuts Position in Pfizer Inc. (PFE)” was reported by American Banking News and is owned by of American Banking News. If you are reading this piece of content on another site, it was copied illegally and republished in violation of US & international trademark & copyright law. The correct version of this piece of content can be viewed at https://www.americanbankingnews.com/2019/03/17/buckingham-capital-management-inc-cuts-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.
Featured Story: What is the Stochastic Momentum Index (SMI)?
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.