Wheatland Advisors Inc. Lowers Stake in Pfizer, Inc. (PFE)
Wheatland Advisors Inc. reduced its stake in Pfizer, Inc. (NYSE:PFE) by 1.7% during the first quarter, according to its most recent filing with the SEC. The firm owned 42,649 shares of the biopharmaceutical company’s stock after selling 718 shares during the period. Pfizer comprises 1.3% of Wheatland Advisors Inc.’s portfolio, making the stock its 25th largest position. Wheatland Advisors Inc.’s holdings in Pfizer were worth $1,459,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. Norges Bank purchased a new stake in shares of Pfizer during the fourth quarter valued at about $1,896,890,000. Appaloosa LP purchased a new stake in shares of Pfizer during the fourth quarter valued at about $156,229,000. I.G. Investment Management LTD. boosted its stake in shares of Pfizer by 24.7% in the fourth quarter. I.G. Investment Management LTD. now owns 11,087,884 shares of the biopharmaceutical company’s stock valued at $360,134,000 after buying an additional 2,194,738 shares during the period. Macquarie Group Ltd. boosted its stake in shares of Pfizer by 8.2% in the fourth quarter. Macquarie Group Ltd. now owns 24,455,341 shares of the biopharmaceutical company’s stock valued at $794,310,000 after buying an additional 1,845,343 shares during the period. Finally, Dodge & Cox purchased a new stake in shares of Pfizer during the fourth quarter valued at about $24,262,000. 69.94% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Pfizer, Inc. (NYSE:PFE) traded up 0.48% during trading on Friday, reaching $33.39. 14,393,883 shares of the company were exchanged. The firm has a 50-day moving average price of $33.25 and a 200-day moving average price of $33.42. The stock has a market capitalization of $198.58 billion, a P/E ratio of 24.43 and a beta of 1.00. Pfizer, Inc. has a 1-year low of $29.83 and a 1-year high of $35.18.
Pfizer (NYSE:PFE) last announced its earnings results on Tuesday, August 1st. The biopharmaceutical company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.02. The business had revenue of $12.90 billion during the quarter, compared to the consensus estimate of $13.08 billion. Pfizer had a net margin of 15.84% and a return on equity of 24.51%. The business’s quarterly revenue was down 1.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.64 earnings per share. Equities research analysts predict that Pfizer, Inc. will post $2.56 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Friday, August 4th will be paid a $0.32 dividend. The ex-dividend date of this dividend is Wednesday, August 2nd. This represents a $1.28 annualized dividend and a dividend yield of 3.83%. Pfizer’s dividend payout ratio (DPR) is presently 94.12%.
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Several equities research analysts have recently issued reports on PFE shares. Citigroup Inc. cut Pfizer from a “neutral” rating to a “sell” rating and reduced their target price for the stock from $38.00 to $31.00 in a report on Tuesday, May 16th. Credit Suisse Group cut Pfizer from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $38.00 to $36.00 in a report on Thursday, July 20th. Zacks Investment Research upgraded Pfizer from a “sell” rating to a “hold” rating in a research report on Friday, July 14th. Barclays PLC reiterated a “buy” rating and issued a $38.00 price target on shares of Pfizer in a research report on Wednesday, May 3rd. Finally, Sanford C. Bernstein reiterated a “buy” rating and issued a $37.00 price target on shares of Pfizer in a research report on Wednesday, May 3rd. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and ten have given a buy rating to the company’s stock. Pfizer has an average rating of “Hold” and an average price target of $37.61.
In other news, insider Alexander R. Mackenzie sold 15,000 shares of the company’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $33.50, for a total value of $502,500.00. Following the completion of the transaction, the insider now directly owns 151,474 shares in the company, valued at $5,074,379. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Laurie J. Olson sold 8,064 shares of the company’s stock in a transaction on Monday, August 21st. The shares were sold at an average price of $32.70, for a total transaction of $263,692.80. Following the completion of the transaction, the insider now owns 74,506 shares of the company’s stock, valued at $2,436,346.20. The disclosure for this sale can be found here. Insiders sold 120,014 shares of company stock valued at $4,062,493 over the last 90 days. Insiders own 0.06% of the company’s stock.
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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