Westchester Capital Management Inc. increased its stake in Pfizer Inc. (NYSE:PFE) by 5.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 206,954 shares of the biopharmaceutical company’s stock after buying an additional 10,666 shares during the period. Pfizer accounts for 2.9% of Westchester Capital Management Inc.’s portfolio, making the stock its 23rd largest position. Westchester Capital Management Inc.’s holdings in Pfizer were worth $7,436,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently added to or reduced their stakes in the company. Evolution Wealth Advisors LLC purchased a new stake in shares of Pfizer during the second quarter valued at approximately $34,000. IMA Wealth Inc. grew its holdings in shares of Pfizer by 144.5% during the second quarter. IMA Wealth Inc. now owns 807 shares of the biopharmaceutical company’s stock valued at $35,000 after buying an additional 477 shares during the last quarter. 1 North Wealth Services LLC purchased a new stake in shares of Pfizer during the third quarter valued at approximately $29,000. Bourgeon Capital Management LLC purchased a new stake in shares of Pfizer during the third quarter valued at approximately $32,000. Finally, B & T Capital Management DBA Alpha Capital Management purchased a new stake in shares of Pfizer during the third quarter valued at approximately $36,000. 71.52% of the stock is owned by institutional investors.
A number of equities research analysts have recently commented on PFE shares. UBS Group reiterated a “neutral” rating and set a $43.00 price target on shares of Pfizer in a report on Monday, August 5th. Credit Suisse Group reiterated a “hold” rating and set a $41.30 price target on shares of Pfizer in a report on Wednesday. DZ Bank upgraded shares of Pfizer from a “sell” rating to a “hold” rating and set a $36.00 price target on the stock in a report on Wednesday, August 28th. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Pfizer in a report on Tuesday, October 29th. Finally, ValuEngine upgraded shares of Pfizer from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Nine investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. Pfizer presently has a consensus rating of “Hold” and an average target price of $44.02.
In other Pfizer news, major shareholder Pfizer Inc purchased 50,000 shares of the company’s stock in a transaction dated Tuesday, September 17th. The shares were acquired at an average price of $18.00 per share, for a total transaction of $900,000.00. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Scott Gottlieb purchased 3,000 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were acquired at an average price of $34.72 per share, for a total transaction of $104,160.00. Following the purchase, the director now directly owns 3,000 shares in the company, valued at $104,160. The disclosure for this purchase can be found here. Company insiders own 0.09% of the company’s stock.
PFE stock traded up $0.14 on Friday, hitting $37.05. The company had a trading volume of 24,924,227 shares, compared to its average volume of 23,366,957. Pfizer Inc. has a 12-month low of $33.97 and a 12-month high of $46.47. The company has a current ratio of 1.47, a quick ratio of 1.21 and a debt-to-equity ratio of 0.60. The stock’s 50-day simple moving average is $36.62 and its 200 day simple moving average is $39.26. The stock has a market cap of $207.30 billion, a price-to-earnings ratio of 12.35, a P/E/G ratio of 2.11 and a beta of 0.67.
Pfizer (NYSE:PFE) last issued its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $0.75 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.13. Pfizer had a net margin of 30.57% and a return on equity of 28.61%. The company had revenue of $12.68 billion for the quarter, compared to analysts’ expectations of $12.37 billion. During the same quarter last year, the company posted $0.78 earnings per share. The firm’s quarterly revenue was down 4.6% on a year-over-year basis. Research analysts forecast that Pfizer Inc. will post 2.96 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 8th will be issued a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 3.89%. The ex-dividend date is Thursday, November 7th. Pfizer’s dividend payout ratio is currently 48.00%.
Pfizer Inc discovers, develops, manufactures, and sells healthcare products worldwide. It offers medicines and vaccines in various therapeutic areas, including internal medicine, vaccines, oncology, inflammation and immunology, and rare diseases under the Lyrica, Chantix/Champix, Eliquis, Ibrance, Sutent, Xalkori, Inlyta, Xtandi, Enbrel, Xeljanz, Eucrisa, BeneFix, Genotropin, and Refacto AF/Xyntha brands.
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