Princeton Global Asset Management LLC raised its position in shares of Pfizer Inc. (NYSE:PFE) by 4.6% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,205 shares of the biopharmaceutical company’s stock after purchasing an additional 317 shares during the quarter. Princeton Global Asset Management LLC’s holdings in Pfizer were worth $264,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of PFE. BlackRock Inc. boosted its stake in shares of Pfizer by 0.8% during the 2nd quarter. BlackRock Inc. now owns 427,534,404 shares of the biopharmaceutical company’s stock worth $13,980,372,000 after acquiring an additional 3,464,207 shares in the last quarter. State Street Corp raised its holdings in shares of Pfizer by 0.3% during the first quarter. State Street Corp now owns 292,621,398 shares of the biopharmaceutical company’s stock worth $9,551,162,000 after acquiring an additional 830,299 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Pfizer by 1.8% during the second quarter. Bank of New York Mellon Corp now owns 57,111,863 shares of the biopharmaceutical company’s stock worth $1,867,559,000 after acquiring an additional 1,024,264 shares in the last quarter. Sanders Capital LLC raised its holdings in shares of Pfizer by 5.0% during the second quarter. Sanders Capital LLC now owns 28,282,011 shares of the biopharmaceutical company’s stock worth $1,046,595,000 after acquiring an additional 1,349,012 shares in the last quarter. Finally, Swiss National Bank raised its holdings in Pfizer by 1.4% during the second quarter. Swiss National Bank now owns 23,365,691 shares of the biopharmaceutical company’s stock valued at $764,058,000 after buying an additional 327,400 shares in the last quarter. 69.08% of the stock is owned by hedge funds and other institutional investors.
In other Pfizer news, Director Ronald E. Blaylock bought 13,000 shares of Pfizer stock in a transaction on Thursday, August 6th. The shares were purchased at an average price of $38.55 per share, with a total value of $501,150.00. Following the acquisition, the director now owns 4,000 shares in the company, valued at approximately $154,200. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Pfizer Inc purchased 1,200,000 shares of the company’s stock in a transaction dated Tuesday, October 27th. The stock was purchased at an average price of $10.00 per share, with a total value of $12,000,000.00. Following the completion of the purchase, the insider now directly owns 27,349,211 shares in the company, valued at approximately $273,492,110. The disclosure for this purchase can be found here. Corporate insiders own 0.08% of the company’s stock.
Several equities research analysts have recently issued reports on PFE shares. ValuEngine downgraded Pfizer from a “hold” rating to a “sell” rating in a research report on Thursday, July 30th. Berenberg Bank initiated coverage on Pfizer in a report on Tuesday, September 29th. They set a “hold” rating and a $38.00 price objective on the stock. Morgan Stanley lifted their price objective on Pfizer from $36.00 to $42.00 and gave the company an “equal weight” rating in a report on Thursday, July 30th. Royal Bank of Canada set a $43.00 price objective on Pfizer and gave the company a “buy” rating in a report on Friday, October 16th. Finally, UBS Group lifted their target price on shares of Pfizer from $37.00 to $39.00 and gave the company a “neutral” rating in a research note on Wednesday, July 29th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $39.66.
NYSE:PFE opened at $35.28 on Friday. The firm has a market capitalization of $196.05 billion, a price-to-earnings ratio of 14.00, a P/E/G ratio of 3.10 and a beta of 0.66. The company has a quick ratio of 1.16, a current ratio of 1.42 and a debt-to-equity ratio of 0.78. Pfizer Inc. has a 12-month low of $27.88 and a 12-month high of $40.97. The stock’s 50 day moving average price is $36.74 and its two-hundred day moving average price is $36.59.
Pfizer (NYSE:PFE) last announced its earnings results on Tuesday, October 27th. The biopharmaceutical company reported $0.72 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.01. The company had revenue of $12.13 billion for the quarter, compared to analyst estimates of $12.30 billion. Pfizer had a return on equity of 25.11% and a net margin of 28.80%. The firm’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.75 earnings per share. Equities research analysts expect that Pfizer Inc. will post 2.84 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Friday, November 6th will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 4.31%. The ex-dividend date of this dividend is Thursday, November 5th. Pfizer’s dividend payout ratio is currently 51.53%.
Pfizer Inc discovers, develops, manufactures, and sells healthcare products worldwide. It offers medicines and vaccines in various therapeutic areas, including internal medicine, vaccines, oncology, inflammation and immunology, and rare diseases under the Lyrica, Chantix/Champix, Eliquis, Ibrance, Sutent, Xalkori, Inlyta, Xtandi, Enbrel, Xeljanz, Eucrisa, BeneFix, Genotropin, and Refacto AF/Xyntha brands.
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