Schmidt P J Investment Management Inc. Reduces Stake in Pfizer, Inc. (PFE)
Schmidt P J Investment Management Inc. decreased its position in Pfizer, Inc. (NYSE:PFE) by 10.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 14,918 shares of the biopharmaceutical company’s stock after selling 1,650 shares during the period. Schmidt P J Investment Management Inc.’s holdings in Pfizer were worth $501,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Pekin Singer Strauss Asset Management IL increased its position in Pfizer by 2.8% in the fourth quarter. Pekin Singer Strauss Asset Management IL now owns 85,723 shares of the biopharmaceutical company’s stock worth $2,784,000 after buying an additional 2,345 shares in the last quarter. Ibex Wealth Advisors increased its position in Pfizer by 204.5% in the fourth quarter. Ibex Wealth Advisors now owns 88,097 shares of the biopharmaceutical company’s stock worth $2,799,000 after buying an additional 59,168 shares in the last quarter. Quadrature Capital Ltd increased its position in Pfizer by 1,566.2% in the fourth quarter. Quadrature Capital Ltd now owns 389,880 shares of the biopharmaceutical company’s stock worth $12,671,000 after buying an additional 366,480 shares in the last quarter. River & Mercantile Asset Management LLP purchased a new position in Pfizer during the fourth quarter worth about $7,519,000. Finally, Dodge & Cox purchased a new position in Pfizer during the fourth quarter worth about $24,262,000. Hedge funds and other institutional investors own 69.09% of the company’s stock.
Pfizer, Inc. (NYSE:PFE) traded down 0.642% during mid-day trading on Wednesday, hitting $33.285. The company had a trading volume of 4,575,376 shares. The stock’s 50 day moving average price is $33.25 and its 200 day moving average price is $33.42. Pfizer, Inc. has a 52-week low of $29.83 and a 52-week high of $35.18. The firm has a market cap of $197.96 billion, a P/E ratio of 24.349 and a beta of 1.00.
Pfizer (NYSE:PFE) last released its earnings results on Tuesday, August 1st. The biopharmaceutical company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.02. Pfizer had a net margin of 15.84% and a return on equity of 24.51%. The firm had revenue of $12.90 billion during the quarter, compared to analyst estimates of $13.08 billion. During the same quarter in the previous year, the business earned $0.64 EPS. The business’s quarterly revenue was down 1.9% compared to the same quarter last year. On average, equities research analysts predict that Pfizer, Inc. will post $2.56 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 4th will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 3.82%. The ex-dividend date is Wednesday, August 2nd. Pfizer’s dividend payout ratio is presently 94.12%.
TRADEMARK VIOLATION WARNING: This piece was reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are accessing this piece on another site, it was copied illegally and republished in violation of United States and international copyright and trademark law. The original version of this piece can be accessed at https://www.thecerbatgem.com/2017/08/30/schmidt-p-j-investment-management-inc-reduces-stake-in-pfizer-inc-pfe.html.
A number of research analysts recently issued reports on the company. BidaskClub upgraded Pfizer from a “strong sell” rating to a “sell” rating in a research note on Friday, June 23rd. Credit Suisse Group downgraded Pfizer from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $38.00 to $36.00 in a research note on Thursday, July 20th. Barclays PLC reiterated a “buy” rating and issued a $38.00 target price on shares of Pfizer in a research note on Wednesday, May 3rd. Sanford C. Bernstein reiterated a “buy” rating and issued a $37.00 target price on shares of Pfizer in a research note on Wednesday, May 3rd. Finally, Cowen and Company set a $43.00 target price on Pfizer and gave the company a “buy” rating in a research note on Monday, July 10th. Two research 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. Pfizer currently has a consensus rating of “Hold” and a consensus price target of $37.61.
In other Pfizer news, insider Laurie J. Olson sold 8,064 shares of Pfizer 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 sale, the insider now owns 74,506 shares of the company’s stock, valued at approximately $2,436,346.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Ian C. Read sold 96,950 shares of Pfizer stock in a transaction on Friday, August 4th. The stock was 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. Insiders have sold a total of 120,014 shares of company stock valued at $4,062,493 in the last ninety days. Company 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).
Receive News & Stock Ratings for Pfizer Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pfizer Inc. and related stocks with our FREE daily email newsletter.