Wright Investors Service Inc. Has $2.10 Million Stake in Pfizer, Inc. (PFE)
Wright Investors Service Inc. boosted its stake in Pfizer, Inc. (NYSE:PFE) by 26.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 62,517 shares of the biopharmaceutical company’s stock after buying an additional 12,975 shares during the period. Wright Investors Service Inc.’s holdings in Pfizer were worth $2,100,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of the company. Macquarie Group Ltd. raised its stake 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 period. Boston Partners raised its stake 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 period. Bank of Nova Scotia raised its stake in Pfizer by 325.9% in the first quarter. Bank of Nova Scotia now owns 1,934,514 shares of the biopharmaceutical company’s stock valued at $66,180,000 after buying an additional 1,480,258 shares during the period. Fisher Asset Management LLC raised its stake in 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 period. Finally, State of Tennessee Treasury Department raised its stake in Pfizer by 22.7% in the first quarter. State of Tennessee Treasury Department now owns 4,891,784 shares of the biopharmaceutical company’s stock valued at $167,348,000 after buying an additional 904,413 shares during the period. Institutional investors own 69.09% of the company’s stock.
Shares of Pfizer, Inc. (PFE) traded up 0.12% on Friday, hitting $33.96. 18,179,055 shares of the stock were exchanged. The stock has a market cap of $201.97 billion, a price-to-earnings ratio of 24.84 and a beta of 1.00. The stock’s 50-day moving average is $33.30 and its 200-day moving average is $33.47. Pfizer, Inc. has a 1-year low of $29.83 and a 1-year high of $34.99.
Pfizer (NYSE:PFE) last released its quarterly earnings data on Tuesday, August 1st. The biopharmaceutical company reported $0.67 earnings per share for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $12.90 billion for the quarter, compared to the consensus estimate of $13.08 billion. During the same quarter in the prior year, the company posted $0.64 earnings per share. The business’s revenue was down 1.9% on a year-over-year basis. Analysts forecast that Pfizer, Inc. will post $2.56 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Friday, August 4th were issued a dividend of $0.32 per share. The ex-dividend date of this dividend was Wednesday, August 2nd. This represents a $1.28 annualized dividend and a yield of 3.77%. Pfizer’s payout ratio is 94.12%.
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PFE has been the topic of several analyst reports. Citigroup Inc. lowered shares of Pfizer from a “neutral” rating to a “sell” rating and cut their target price for the stock from $38.00 to $31.00 in a report on Tuesday, May 16th. Credit Suisse Group lowered shares of Pfizer from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $38.00 to $36.00 in a report on Thursday, July 20th. Zacks Investment Research upgraded shares of Pfizer from a “sell” rating to a “hold” rating in a report on Friday, July 14th. Morgan Stanley reiterated a “neutral” rating and issued a $35.00 target price (down from $38.00) on shares of Pfizer in a report on Monday, June 12th. Finally, ValuEngine lowered shares of Pfizer from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Two 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. The company currently has an average rating of “Hold” and a consensus price target of $37.61.
In other news, CEO Ian C. Read sold 96,950 shares of the company’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $34.00, for a total value of $3,296,300.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Alexander R. Mackenzie sold 15,000 shares of the company’s stock in a transaction on 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 approximately $5,074,379. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 418,941 shares of company stock worth $14,226,011. Corporate insiders own 0.06% of the company’s stock.
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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