Northern Capital Management LLC lessened its stake in shares of Pfizer Inc. (NYSE:PFE) by 39.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 22,767 shares of the biopharmaceutical company’s stock after selling 14,590 shares during the period. Northern Capital Management LLC’s holdings in Pfizer were worth $1,003,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Prio Wealth Limited Partnership raised its stake in Pfizer by 3.2% in the third quarter. Prio Wealth Limited Partnership now owns 1,039,655 shares of the biopharmaceutical company’s stock valued at $45,817,000 after buying an additional 32,071 shares during the period. Sterling Capital Management LLC increased its stake in shares of Pfizer by 16.6% during the second quarter. Sterling Capital Management LLC now owns 2,478,848 shares of the biopharmaceutical company’s stock worth $89,933,000 after purchasing an additional 353,212 shares during the period. Round Table Services LLC increased its stake in shares of Pfizer by 22.7% during the third quarter. Round Table Services LLC now owns 19,327 shares of the biopharmaceutical company’s stock worth $852,000 after purchasing an additional 3,580 shares during the period. Patriot Wealth Management Inc. increased its stake in shares of Pfizer by 2.1% during the third quarter. Patriot Wealth Management Inc. now owns 243,476 shares of the biopharmaceutical company’s stock worth $10,730,000 after purchasing an additional 5,070 shares during the period. Finally, Essex Financial Services Inc. increased its stake in shares of Pfizer by 1.0% during the second quarter. Essex Financial Services Inc. now owns 331,097 shares of the biopharmaceutical company’s stock worth $12,012,000 after purchasing an additional 3,249 shares during the period. Institutional investors and hedge funds own 70.61% of the company’s stock.
In other news, EVP Douglas M. Lankler sold 38,800 shares of Pfizer stock in a transaction dated Wednesday, January 30th. The stock was sold at an average price of $41.19, for a total value of $1,598,172.00. Following the completion of the transaction, the executive vice president now directly owns 83,592 shares of the company’s stock, valued at approximately $3,443,154.48. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Douglas M. Lankler sold 5,000 shares of Pfizer stock in a transaction dated Friday, February 1st. The stock was sold at an average price of $42.75, for a total value of $213,750.00. Following the completion of the transaction, the executive vice president now directly owns 83,592 shares of the company’s stock, valued at $3,573,558. The disclosure for this sale can be found here. 0.06% of the stock is owned by company insiders.
Pfizer (NYSE:PFE) last announced its earnings results on Tuesday, January 29th. The biopharmaceutical company reported $0.64 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.01. The business had revenue of $13.98 billion during the quarter, compared to analyst estimates of $13.92 billion. Pfizer had a return on equity of 25.38% and a net margin of 20.79%. Pfizer’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period last year, the company earned $0.62 EPS. Analysts expect that Pfizer Inc. will post 2.86 earnings per share for the current fiscal year.
Pfizer declared that its board has authorized a stock buyback program on Friday, December 14th that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the biopharmaceutical company to purchase up to 3.8% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 1st. Investors of record on Friday, February 1st will be given a dividend of $0.36 per share. This is a positive change from Pfizer’s previous quarterly dividend of $0.34. This represents a $1.44 annualized dividend and a yield of 3.40%. The ex-dividend date is Thursday, January 31st. Pfizer’s dividend payout ratio (DPR) is currently 48.00%.
A number of equities analysts have recently weighed in on the company. Credit Suisse Group reiterated a “neutral” rating and set a $45.00 target price on shares of Pfizer in a research note on Monday, January 28th. BMO Capital Markets lowered Pfizer from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $47.00 to $46.00 in a research note on Thursday, November 1st. They noted that the move was a valuation call. Wolfe Research assumed coverage on Pfizer in a research note on Tuesday, October 23rd. They set a “market perform” rating on the stock. JPMorgan Chase & Co. lowered Pfizer from an “overweight” rating to a “neutral” rating and set a $46.00 target price on the stock. in a research note on Tuesday, December 11th. Finally, Cantor Fitzgerald reiterated a “buy” rating and set a $53.00 target price on shares of Pfizer in a research note on Monday, November 19th. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and seven have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $44.68.
Pfizer Company Profile
Pfizer Inc discovers, develops, manufactures, and sells healthcare products worldwide. It operates in two segments, Pfizer Innovative Health (IH) and Pfizer Essential Health (EH). The IH segment focuses on the development and commercialization of medicines and vaccines, and consumer healthcare products in various therapeutic areas, including internal medicine, vaccines, oncology, inflammation and immunology, and rare diseases, as well as consumer healthcare, such as over-the-counter brands comprising dietary supplements, pain management, gastrointestinal, and respiratory and personal care.
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