Harvey Capital Management Inc. Has $807,000 Stake in Pfizer, Inc. (PFE)
Harvey Capital Management Inc. maintained its position in Pfizer, Inc. (NYSE:PFE) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 24,050 shares of the biopharmaceutical company’s stock at the end of the second quarter. Harvey Capital Management Inc.’s holdings in Pfizer were worth $807,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Pfizer during the fourth quarter valued at about $1,896,890,000. Fisher Asset Management LLC boosted its stake in shares of Pfizer by 3.9% in the second quarter. Fisher Asset Management LLC now owns 34,035,362 shares of the biopharmaceutical company’s stock valued at $1,143,248,000 after buying an additional 1,275,832 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its stake in shares of Pfizer by 1.2% in the first quarter. Schwab Charles Investment Management Inc. now owns 31,260,823 shares of the biopharmaceutical company’s stock valued at $1,069,433,000 after buying an additional 377,404 shares during the last quarter. Macquarie Group Ltd. boosted its stake in shares of Pfizer by 0.9% in the first quarter. Macquarie Group Ltd. now owns 24,683,746 shares of the biopharmaceutical company’s stock valued at $844,431,000 after buying an additional 228,405 shares during the last quarter. Finally, Boston Partners boosted its stake in shares of Pfizer by 7.3% in the first quarter. Boston Partners now owns 24,263,989 shares of the biopharmaceutical company’s stock valued at $830,071,000 after buying an additional 1,649,801 shares during the last quarter. 69.94% of the stock is owned by hedge funds and other institutional investors.
Shares of Pfizer, Inc. (NYSE PFE) traded up 0.345% during trading on Tuesday, reaching $33.425. The company had a trading volume of 8,283,977 shares. Pfizer, Inc. has a 52 week low of $29.83 and a 52 week high of $35.38. The firm has a 50-day moving average of $33.38 and a 200 day moving average of $33.35. The firm has a market capitalization of $199.48 billion, a price-to-earnings ratio of 24.451 and a beta of 1.00.
Pfizer (NYSE:PFE) last posted its quarterly earnings results on Tuesday, August 1st. The biopharmaceutical company reported $0.67 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.02. Pfizer had a return on equity of 24.11% and a net margin of 15.84%. The firm had revenue of $12.90 billion during the quarter, compared to the consensus estimate of $13.08 billion. During the same quarter in the previous year, the business earned $0.64 earnings per share. The firm’s quarterly revenue was down 1.9% compared to the same quarter last year. On average, equities research analysts forecast that Pfizer, Inc. will post $2.56 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 4th will be given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 3.84%. The ex-dividend date is Wednesday, August 2nd. Pfizer’s dividend payout ratio (DPR) is presently 94.12%.
PFE has been the subject of several analyst reports. Cowen and Company set a $43.00 target price on Pfizer and gave the company a “buy” rating in a report on Monday. Sanford C. Bernstein restated a “buy” rating and issued a $35.00 target price on shares of Pfizer in a report on Monday, April 24th. Jefferies Group LLC restated a “hold” rating and issued a $35.00 target price (up from $34.00) on shares of Pfizer in a report on Friday, July 14th. Berenberg Bank set a $36.00 target price on Pfizer and gave the company a “neutral” rating in a report on Tuesday. Finally, Zacks Investment Research upgraded Pfizer from a “sell” rating to a “hold” rating in a report on Friday, July 14th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and ten have given a buy rating to the company’s stock. Pfizer currently has an average rating of “Hold” and an average target price of $37.61.
In other Pfizer news, insider Alexander R. Mackenzie sold 15,000 shares of the business’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $33.50, for a total transaction of $502,500.00. Following the completion of the sale, the insider now owns 151,474 shares of the company’s stock, valued at $5,074,379. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Ian C. Read sold 96,950 shares of the company’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $34.00, for a total value of $3,296,300.00. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by insiders.
Pfizer Company Profile
Pfizer Inc (Pfizer) is a research-based global biopharmaceutical company. The Company is engaged in the discovery, development and manufacture of healthcare products. Its global portfolio includes medicines and vaccines, as well as consumer healthcare products. The Company manages its commercial operations through two business segments: Pfizer Innovative Health (IH) and Pfizer Essential Health (EH).
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