Destination Wealth Management Raises Position in Pfizer, Inc. (PFE)
Destination Wealth Management raised its position in shares of Pfizer, Inc. (NYSE:PFE) by 17.4% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 143,852 shares of the biopharmaceutical company’s stock after buying an additional 21,307 shares during the period. Destination Wealth Management’s holdings in Pfizer were worth $4,921,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in PFE. Asset Planning Services Ltd. boosted its position in shares of Pfizer by 4.9% in the first quarter. Asset Planning Services Ltd. now owns 2,961 shares of the biopharmaceutical company’s stock worth $101,000 after buying an additional 137 shares during the period. Orrstown Financial Services Inc. increased its position in shares of Pfizer by 23.0% in the first quarter. Orrstown Financial Services Inc. now owns 3,275 shares of the biopharmaceutical company’s stock worth $112,000 after buying an additional 612 shares in the last quarter. Cable Hill Partners LLC increased its position in shares of Pfizer by 6.0% in the first quarter. Cable Hill Partners LLC now owns 4,664 shares of the biopharmaceutical company’s stock worth $160,000 after buying an additional 265 shares in the last quarter. Acropolis Investment Management LLC increased its position in shares of Pfizer by 1.9% in the first quarter. Acropolis Investment Management LLC now owns 5,251 shares of the biopharmaceutical company’s stock worth $180,000 after buying an additional 100 shares in the last quarter. Finally, Cohen Lawrence B purchased a new position in shares of Pfizer during the first quarter worth about $201,000. Hedge funds and other institutional investors own 69.09% of the company’s stock.
Pfizer, Inc. (NYSE PFE) traded down 0.09% during midday trading on Friday, reaching $33.89. The company had a trading volume of 5,459,374 shares. The company’s 50-day moving average is $33.28 and its 200 day moving average is $33.46. The company has a market cap of $201.56 billion, a PE ratio of 24.79 and a beta of 1.00. Pfizer, Inc. has a 52-week low of $29.83 and a 52-week high of $35.18.
Pfizer (NYSE:PFE) last released its quarterly earnings data 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 24.51% and a net margin of 15.84%. The company had revenue of $12.90 billion during the quarter, compared to analysts’ expectations of $13.08 billion. During the same period last year, the firm posted $0.64 earnings per share. The business’s revenue was down 1.9% on a year-over-year basis. On average, equities research analysts forecast that Pfizer, Inc. will post $2.56 EPS for the current 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 dividend of $0.32 per share. The ex-dividend date of this dividend is Wednesday, August 2nd. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.77%. Pfizer’s dividend payout ratio (DPR) is currently 94.12%.
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PFE has been the subject of several recent analyst reports. Jefferies Group LLC set a $35.00 price objective on shares of Pfizer and gave the stock a “neutral” rating in a research report on Thursday, August 24th. Berenberg Bank reiterated a “hold” rating and issued a $36.00 price target (down previously from $39.00) on shares of Pfizer in a research report on Tuesday, August 15th. Cowen and Company set a $43.00 price objective on shares of Pfizer and gave the company a “buy” rating in a research note on Monday, August 14th. BidaskClub raised shares of Pfizer from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 5th. Finally, BMO Capital Markets raised shares of Pfizer from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $33.00 to $37.00 in a research note on Wednesday, August 2nd. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and ten have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $37.61.
In other Pfizer news, insider Laurie J. Olson sold 8,064 shares of the firm’s stock in a transaction on Monday, August 21st. The stock was sold at an average price of $32.70, for a total transaction of $263,692.80. Following the transaction, the insider now owns 74,506 shares in the company, valued at approximately $2,436,346.20. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Ian C. Read sold 96,950 shares of the firm’s stock in a transaction on 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. In the last quarter, insiders have sold 120,014 shares of company stock worth $4,062,493. 0.06% of the stock is owned by corporate 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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