Stralem & Co. Inc. Lowers Position in Pfizer Inc. (PFE)
Stralem & Co. Inc. decreased its stake in shares of Pfizer Inc. (NYSE:PFE) by 9.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 761,756 shares of the biopharmaceutical company’s stock after selling 80,600 shares during the period. Pfizer comprises approximately 3.1% of Stralem & Co. Inc.’s holdings, making the stock its 9th largest position. Stralem & Co. Inc.’s holdings in Pfizer were worth $26,821,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in PFE. Catamount Wealth Management raised its stake in Pfizer by 14.2% in the first quarter. Catamount Wealth Management now owns 4,395 shares of the biopharmaceutical company’s stock valued at $130,000 after buying an additional 545 shares in the last quarter. Stuart Chaussee & Associates Inc. increased its stake in Pfizer by 64.3% in the second quarter. Stuart Chaussee & Associates Inc. now owns 5,430 shares of the biopharmaceutical company’s stock valued at $193,000 after buying an additional 2,125 shares during the period. Oakmont Partners LLC bought a new stake in Pfizer during the second quarter valued at approximately $211,000. Financial Strategy Network LLC bought a new stake in Pfizer during the first quarter valued at approximately $205,000. Finally, Moon Capital Management LLC bought a new stake in Pfizer during the second quarter valued at approximately $237,000. Institutional investors own 69.66% of the company’s stock.
Shares of Pfizer Inc. (NYSE:PFE) traded down 0.18% during trading on Wednesday, reaching $33.07. The company had a trading volume of 15,138,664 shares. The company has a market capitalization of $200.59 billion, a PE ratio of 29.32 and a beta of 0.86. The stock’s 50-day moving average price is $34.20 and its 200-day moving average price is $34.27. Pfizer Inc. has a 52 week low of $28.25 and a 52 week high of $37.39.
Pfizer (NYSE:PFE) last issued its quarterly earnings results on Tuesday, August 2nd. The biopharmaceutical company reported $0.64 EPS for the quarter, topping the Zacks’ consensus estimate of $0.62 by $0.02. Pfizer had a return on equity of 23.37% and a net margin of 14.88%. The company earned $13.10 billion during the quarter, compared to analysts’ expectations of $13.01 billion. During the same quarter in the previous year, the firm posted $0.56 EPS. The firm’s revenue was up 10.9% compared to the same quarter last year. On average, equities analysts expect that Pfizer Inc. will post $2.46 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Friday, November 11th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Tuesday, November 8th. This represents a $1.20 dividend on an annualized basis and a yield of 3.63%. Pfizer’s dividend payout ratio is currently 95.24%.
Several equities research analysts have commented on PFE shares. Piper Jaffray Cos. set a $54.00 target price on Pfizer and gave the stock a “buy” rating in a report on Tuesday, August 23rd. Bank of America Corp. set a $40.00 target price on Pfizer and gave the stock a “buy” rating in a report on Monday, August 22nd. Jefferies Group dropped their target price on Pfizer from $40.00 to $39.00 and set a “buy” rating on the stock in a report on Tuesday, September 13th. Credit Suisse Group AG reissued an “outperform” rating and issued a $40.00 target price on shares of Pfizer in a report on Monday, August 22nd. Finally, Argus reissued a “buy” rating and issued a $39.00 target price on shares of Pfizer in a report on Tuesday, October 4th. Ten investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. Pfizer currently has an average rating of “Buy” and a consensus target price of $38.78.
Pfizer Company Profile
Pfizer Inc is a research-based global biopharmaceutical company. The Company is engaged in discovering, developing and manufacturing of healthcare products. Its portfolio includes medicines, vaccines and medical devices, as well as consumer healthcare products. Its products include Prevnar/Prevenar 13, Lyrica, Enbrel, Lipitor, Viagra, Sutent, BeneFIX, Genotropin, ReFacto, Xyntha and Enbrel.
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