Doyle Wealth Management Acquires 6,695 Shares of Pfizer, Inc. (PFE)
Doyle Wealth Management raised its position in Pfizer, Inc. (NYSE:PFE) by 1.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 425,948 shares of the biopharmaceutical company’s stock after buying an additional 6,695 shares during the period. Pfizer makes up approximately 2.7% of Doyle Wealth Management’s investment portfolio, making the stock its 10th largest position. Doyle Wealth Management’s holdings in Pfizer were worth $14,308,000 as of its most recent filing with the SEC.
Several other institutional investors have also added to or reduced their stakes in the company. Norges Bank purchased a new position in Pfizer during the fourth quarter valued at about $1,896,890,000. Appaloosa LP purchased a new position in Pfizer during the fourth quarter valued at about $156,229,000. I.G. Investment Management LTD. raised its position in 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 last quarter. Macquarie Group Ltd. raised its position in 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 last quarter. Finally, Boston Partners raised its position in 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. Institutional investors and hedge funds own 69.09% of the company’s stock.
Shares of Pfizer, Inc. (NYSE PFE) traded up 0.045% during trading on Tuesday, reaching $33.485. The company had a trading volume of 5,108,375 shares. Pfizer, Inc. has a 12 month low of $29.83 and a 12 month high of $35.18. The stock has a market capitalization of $199.15 billion, a PE ratio of 24.495 and a beta of 1.00. The stock’s 50-day moving average price is $33.25 and its 200-day moving average price is $33.42.
Pfizer (NYSE:PFE) last issued its quarterly earnings results on Tuesday, August 1st. The biopharmaceutical company reported $0.67 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.65 by $0.02. Pfizer had a net margin of 15.84% and a return on equity of 24.51%. The company had revenue of $12.90 billion during the quarter, compared to the consensus estimate of $13.08 billion. During the same quarter in the prior year, the firm posted $0.64 EPS. The firm’s quarterly revenue was down 1.9% on a year-over-year basis. Equities analysts forecast that Pfizer, Inc. will post $2.56 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 4th will be paid a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 3.82%. The ex-dividend date of this dividend is Wednesday, August 2nd. Pfizer’s payout ratio is 94.12%.
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Several research firms recently issued reports on PFE. Jefferies Group LLC set a $35.00 target price on Pfizer and gave the stock a “neutral” rating in a research note on Wednesday, August 2nd. Morgan Stanley reissued a “neutral” rating and set a $35.00 target price (down previously from $38.00) on shares of Pfizer in a research note on Monday, June 12th. Berenberg Bank set a $39.00 target price on Pfizer and gave the stock a “neutral” rating in a research note on Tuesday, August 1st. Citigroup Inc. lowered Pfizer from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $38.00 to $31.00 in a research note on Tuesday, May 16th. Finally, Zacks Investment Research raised Pfizer from a “sell” rating to a “hold” rating in a research note on Friday, July 14th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and ten have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $37.61.
In related news, insider Laurie J. Olson sold 8,064 shares of the stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $32.70, for a total value of $263,692.80. Following the completion of the transaction, the insider now owns 74,506 shares of the company’s stock, valued at approximately $2,436,346.20. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Ian C. Read sold 96,950 shares of the stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $34.00, for a total transaction of $3,296,300.00. The disclosure for this sale can be found here. In the last three months, insiders sold 120,014 shares of company stock valued at $4,062,493. 0.06% of the stock is 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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