Bank of Montreal Can Boosts Stake in Pfizer Inc. (NYSE:PFE)

Bank of Montreal Can boosted its stake in Pfizer Inc. (NYSE:PFE) by 14.8% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 12,214,320 shares of the biopharmaceutical company’s stock after buying an additional 1,579,179 shares during the quarter. Bank of Montreal Can owned approximately 0.22% of Pfizer worth $482,831,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently bought and sold shares of the stock. Ameriprise Financial Inc. lifted its stake in shares of Pfizer by 111.3% during the 1st quarter. Ameriprise Financial Inc. now owns 17,940,336 shares of the biopharmaceutical company’s stock worth $649,995,000 after purchasing an additional 9,451,863 shares during the period. Canada Pension Plan Investment Board lifted its stake in shares of Pfizer by 125.2% during the 1st quarter. Canada Pension Plan Investment Board now owns 13,765,773 shares of the biopharmaceutical company’s stock worth $498,734,000 after purchasing an additional 7,654,145 shares during the period. Franklin Resources Inc. lifted its stake in shares of Pfizer by 39.6% during the 1st quarter. Franklin Resources Inc. now owns 26,553,208 shares of the biopharmaceutical company’s stock worth $962,030,000 after purchasing an additional 7,532,823 shares during the period. Amundi Asset Management US Inc. lifted its stake in shares of Pfizer by 41.5% during the 1st quarter. Amundi Asset Management US Inc. now owns 14,037,210 shares of the biopharmaceutical company’s stock worth $508,569,000 after purchasing an additional 4,114,833 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of Pfizer by 4.1% in the 1st quarter. Geode Capital Management LLC now owns 94,148,117 shares of the biopharmaceutical company’s stock worth $3,402,339,000 after buying an additional 3,699,308 shares during the period. 64.93% of the stock is currently owned by hedge funds and other institutional investors.

In related news, SVP Jennifer B. Damico sold 1,661 shares of the firm’s stock in a transaction that occurred on Friday, August 13th. The shares were sold at an average price of $48.30, for a total transaction of $80,226.30. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Jennifer B. Damico sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, July 30th. The shares were sold at an average price of $42.86, for a total transaction of $107,150.00. Following the transaction, the senior vice president now owns 11,430 shares in the company, valued at approximately $489,889.80. The disclosure for this sale can be found here. Insiders own 0.05% of the company’s stock.

Shares of PFE stock opened at $43.76 on Monday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.12 and a current ratio of 1.37. Pfizer Inc. has a one year low of $33.36 and a one year high of $51.86. The company’s 50-day simple moving average is $45.45 and its 200-day simple moving average is $40.91. The stock has a market capitalization of $245.35 billion, a price-to-earnings ratio of 18.86, a PEG ratio of 1.58 and a beta of 0.74.

Pfizer (NYSE:PFE) last issued its earnings results on Wednesday, July 28th. The biopharmaceutical company reported $1.07 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.97 by $0.10. Pfizer had a net margin of 23.06% and a return on equity of 26.49%. The firm had revenue of $18.98 billion for the quarter, compared to analysts’ expectations of $17.54 billion. During the same quarter last year, the company posted $0.78 earnings per share. As a group, research analysts forecast that Pfizer Inc. will post 4.12 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 6th. Stockholders of record on Friday, November 5th will be issued a dividend of $0.39 per share. The ex-dividend date of this dividend is Thursday, November 4th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.56%. Pfizer’s dividend payout ratio (DPR) is presently 70.27%.

PFE has been the topic of several research reports. Berenberg Bank reaffirmed a “neutral” rating and issued a $43.00 target price on shares of Pfizer in a research report on Tuesday, June 15th. The Goldman Sachs Group set a $48.00 target price on Pfizer in a research report on Thursday, July 29th. SVB Leerink increased their target price on Pfizer from $49.00 to $50.00 and gave the stock a “market perform” rating in a research report on Monday, September 20th. Morgan Stanley increased their target price on Pfizer from $42.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 29th. Finally, JPMorgan Chase & Co. increased their price target on Pfizer from $40.00 to $42.00 and gave the company a “neutral” rating in a report on Monday, September 13th. Eleven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $42.85.

About Pfizer

Pfizer Inc is a research-based global biopharmaceutical company. It engages in the discovery, development, manufacture, marketing, sales and distribution of biopharmaceutical products worldwide. The firm work across developed and emerging markets to advance wellness, prevention, treatments and cures that challenge the most feared diseases.

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Institutional Ownership by Quarter for Pfizer (NYSE:PFE)

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