Grove Bank & Trust raised its position in shares of Pfizer Inc. (NYSE:PFE) by 31.4% in the third quarter, HoldingsChannel reports. The firm owned 29,257 shares of the biopharmaceutical company’s stock after acquiring an additional 6,990 shares during the period. Grove Bank & Trust’s holdings in Pfizer were worth $1,044,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Peregrine Asset Advisers Inc. raised its position in shares of Pfizer by 0.5% in the 2nd quarter. Peregrine Asset Advisers Inc. now owns 7,354 shares of the biopharmaceutical company’s stock worth $247,000 after acquiring an additional 35 shares in the last quarter. Northwest Quadrant Wealth Management LLC raised its position in shares of Pfizer by 0.8% in the 2nd quarter. Northwest Quadrant Wealth Management LLC now owns 6,329 shares of the biopharmaceutical company’s stock worth $211,000 after acquiring an additional 50 shares in the last quarter. River Wealth Advisors LLC raised its position in shares of Pfizer by 0.3% in the 2nd quarter. River Wealth Advisors LLC now owns 15,818 shares of the biopharmaceutical company’s stock worth $531,000 after acquiring an additional 55 shares in the last quarter. Stone House Investment Management LLC raised its position in shares of Pfizer by 1.0% in the 2nd quarter. Stone House Investment Management LLC now owns 7,236 shares of the biopharmaceutical company’s stock worth $243,000 after acquiring an additional 72 shares in the last quarter. Finally, Highland Private Wealth Management raised its position in shares of Pfizer by 0.8% in the 2nd quarter. Highland Private Wealth Management now owns 9,047 shares of the biopharmaceutical company’s stock worth $304,000 after acquiring an additional 76 shares in the last quarter. 70.06% of the stock is owned by institutional investors and hedge funds.

In other Pfizer news, insider Alexander R. Mackenzie sold 6,750 shares of the business’s stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $37.00, for a total transaction of $249,750.00. Following the sale, the insider now owns 103,458 shares in the company, valued at approximately $3,827,946. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Rady A. Johnson sold 8,000 shares of the company’s stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $37.07, for a total value of $296,560.00. Following the completion of the sale, the executive vice president now owns 46,963 shares in the company, valued at approximately $1,740,918.41. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by insiders.

Shares of Pfizer Inc. (NYSE PFE) opened at $35.19 on Thursday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.15 and a current ratio of 1.43. The firm has a market capitalization of $209,760.00, a PE ratio of 10.00, a price-to-earnings-growth ratio of 1.96 and a beta of 0.94. Pfizer Inc. has a one year low of $31.67 and a one year high of $39.43.

Pfizer (NYSE:PFE) last posted its quarterly earnings results on Tuesday, January 30th. The biopharmaceutical company reported $0.62 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.06. The business had revenue of $13.70 billion for the quarter, compared to the consensus estimate of $13.67 billion. Pfizer had a return on equity of 26.86% and a net margin of 40.55%. The company’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.47 EPS. equities research analysts forecast that Pfizer Inc. will post 2.95 earnings per share for the current year.

Pfizer announced that its Board of Directors has approved a share repurchase program on Monday, December 18th that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the biopharmaceutical company to buy shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s leadership believes its shares are undervalued.

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Friday, February 2nd will be paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 3.86%. The ex-dividend date is Thursday, February 1st. This is an increase from Pfizer’s previous quarterly dividend of $0.32. Pfizer’s payout ratio is presently 38.64%.

Several research analysts recently issued reports on the company. BMO Capital Markets set a $39.00 target price on Pfizer and gave the company a “buy” rating in a research report on Tuesday, January 30th. SunTrust Banks reaffirmed a “hold” rating and set a $40.00 target price (up from $33.00) on shares of Pfizer in a research report on Monday, January 29th. Morgan Stanley upped their target price on Pfizer from $41.00 to $43.00 and gave the company a “buy” rating in a research report on Wednesday, January 31st. UBS Group set a $42.00 target price on Pfizer and gave the company a “buy” rating in a research report on Wednesday, January 31st. Finally, Societe Generale set a $40.00 target price on Pfizer and gave the company a “neutral” rating in a research report on Wednesday, January 31st. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and eleven have assigned a buy rating to the stock. Pfizer currently has an average rating of “Hold” and an average price target of $39.45.

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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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Institutional Ownership by Quarter for Pfizer (NYSE:PFE)

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