FineMark National Bank & Trust trimmed its position in shares of Pfizer Inc. (NYSE:PFE) by 1.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 404,092 shares of the biopharmaceutical company’s stock after selling 5,032 shares during the quarter. Pfizer accounts for approximately 1.0% of FineMark National Bank & Trust’s portfolio, making the stock its 15th largest holding. FineMark National Bank & Trust’s holdings in Pfizer were worth $14,426,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of PFE. HighTower Advisors LLC boosted its holdings in Pfizer by 2.2% during the 1st quarter. HighTower Advisors LLC now owns 2,423,586 shares of the biopharmaceutical company’s stock worth $82,836,000 after acquiring an additional 51,174 shares during the last quarter. Harbour Capital Advisors LLC bought a new stake in shares of Pfizer during the 1st quarter worth $453,000. Macquarie Group Ltd. raised its stake in shares of Pfizer by 0.9% during the 1st quarter. Macquarie Group Ltd. now owns 24,683,746 shares of the biopharmaceutical company’s stock worth $844,431,000 after purchasing an additional 228,405 shares during the period. Kovitz Investment Group Partners LLC raised its stake in shares of Pfizer by 4.6% during the 1st quarter. Kovitz Investment Group Partners LLC now owns 23,258 shares of the biopharmaceutical company’s stock worth $796,000 after purchasing an additional 1,027 shares during the period. Finally, Security National Bank of Sioux City Iowa IA bought a new stake in shares of Pfizer during the 1st quarter worth $432,000. 69.74% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Pfizer Inc. (NYSE PFE) opened at $36.41 on Wednesday. Pfizer Inc. has a 52 week low of $30.90 and a 52 week high of $37.35. The stock has a market capitalization of $217,030.00, a PE ratio of 22.34, a P/E/G ratio of 2.46 and a beta of 1.01. The company has a quick ratio of 1.15, a current ratio of 1.43 and a debt-to-equity ratio of 0.56.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Friday, February 2nd will be paid a $0.34 dividend. This is a boost from Pfizer’s previous quarterly dividend of $0.32. This represents a $1.36 dividend on an annualized basis and a yield of 3.74%. The ex-dividend date of this dividend is Thursday, February 1st. Pfizer’s payout ratio is currently 78.53%.
Pfizer announced that its Board of Directors has initiated a share buyback plan on Monday, December 18th that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the biopharmaceutical company to repurchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its stock is undervalued.
A number of research firms have recently commented on PFE. Morgan Stanley set a $41.00 target price on Pfizer and gave the stock a “buy” rating in a research note on Friday, January 5th. BMO Capital Markets set a $39.00 target price on Pfizer and gave the stock a “buy” rating in a research note on Monday. Deutsche Bank set a $38.00 target price on Pfizer and gave the stock a “buy” rating in a research note on Wednesday, October 11th. Vetr upgraded Pfizer from a “hold” rating to a “buy” rating and set a $37.98 target price on the stock in a research note on Monday. Finally, Zacks Investment Research cut Pfizer from a “buy” rating to a “hold” rating in a research note on Wednesday, October 11th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the stock. Pfizer currently has an average rating of “Buy” and an average target price of $38.83.
In related news, EVP Rady A. Johnson sold 8,000 shares of the business’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 sale, the executive vice president now directly owns 46,963 shares in the company, valued at approximately $1,740,918.41. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Alexander R. Mackenzie sold 6,750 shares of the business’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $37.00, for a total value of $249,750.00. Following the completion of the sale, the insider now owns 103,458 shares in the company, valued at $3,827,946. The disclosure for this sale can be found here. Insiders sold a total of 29,450 shares of company stock worth $1,065,220 over the last 90 days. 0.06% of the stock is currently owned by company insiders.
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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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