Welch & Forbes LLC Cuts Stock Position in Pfizer Inc. (NYSE:PFE)

Welch & Forbes LLC cut its position in Pfizer Inc. (NYSE:PFE) by 1.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 899,561 shares of the biopharmaceutical company’s stock after selling 9,517 shares during the period. Welch & Forbes LLC’s holdings in Pfizer were worth $38,969,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of PFE. Congress Asset Management Co. MA boosted its stake in Pfizer by 2.0% during the fourth quarter. Congress Asset Management Co. MA now owns 13,235 shares of the biopharmaceutical company’s stock worth $578,000 after buying an additional 254 shares during the last quarter. D.B. Root & Company LLC boosted its stake in Pfizer by 0.7% during the fourth quarter. D.B. Root & Company LLC now owns 36,078 shares of the biopharmaceutical company’s stock worth $1,575,000 after buying an additional 255 shares during the last quarter. Cottage Street Advisors LLC boosted its stake in Pfizer by 4.0% during the fourth quarter. Cottage Street Advisors LLC now owns 6,677 shares of the biopharmaceutical company’s stock worth $291,000 after buying an additional 255 shares during the last quarter. Viridian Ria LLC boosted its stake in Pfizer by 0.9% during the fourth quarter. Viridian Ria LLC now owns 30,859 shares of the biopharmaceutical company’s stock worth $1,327,000 after buying an additional 280 shares during the last quarter. Finally, Townsend & Associates Inc boosted its stake in Pfizer by 0.6% during the second quarter. Townsend & Associates Inc now owns 47,043 shares of the biopharmaceutical company’s stock worth $2,089,000 after buying an additional 286 shares during the last quarter. 71.82% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Pfizer stock traded down $0.25 during trading hours on Friday, hitting $38.00. The company’s stock had a trading volume of 27,652,919 shares, compared to its average volume of 25,745,708. Pfizer Inc. has a twelve month low of $37.68 and a twelve month high of $46.47. The company’s fifty day simple moving average is $42.85. The company has a market cap of $215.95 billion, a PE ratio of 12.67, a price-to-earnings-growth ratio of 3.08 and a beta of 0.63. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.27 and a current ratio of 1.54.

Pfizer (NYSE:PFE) last announced its quarterly earnings results on Monday, July 29th. The biopharmaceutical company reported $0.80 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.75 by $0.05. Pfizer had a return on equity of 27.57% and a net margin of 23.58%. The business had revenue of $13.26 billion for the quarter, compared to analyst estimates of $13.43 billion. During the same quarter in the prior year, the company posted $0.77 EPS. The company’s quarterly revenue was down 1.5% on a year-over-year basis. Equities analysts predict that Pfizer Inc. will post 2.8 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Friday, August 2nd will be paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 3.79%. The ex-dividend date is Thursday, August 1st. Pfizer’s dividend payout ratio (DPR) is presently 48.00%.

A number of equities analysts have weighed in on PFE shares. Barclays reissued a “hold” rating and set a $41.00 price objective on shares of Pfizer in a research note on Thursday, May 9th. Bank of America lowered Pfizer from a “buy” rating to a “neutral” rating in a research note on Tuesday. Credit Suisse Group started coverage on Pfizer in a research note on Monday, July 15th. They set a “hold” rating and a $47.00 price objective on the stock. Goldman Sachs Group reissued a “buy” rating and set a $49.00 price objective on shares of Pfizer in a research note on Monday, June 17th. Finally, Morgan Stanley lowered Pfizer from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $48.00 to $40.00 in a research note on Tuesday. Fifteen analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $46.44.

In related news, insider Alexander R. Mackenzie sold 30,000 shares of the business’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $44.00, for a total value of $1,320,000.00. Following the sale, the insider now owns 80,094 shares in the company, valued at approximately $3,524,136. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Frank A. Damelio sold 153,184 shares of the business’s stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $44.09, for a total value of $6,753,882.56. Following the completion of the sale, the executive vice president now owns 489,647 shares in the company, valued at approximately $21,588,536.23. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by insiders.

About Pfizer

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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Institutional Ownership by Quarter for Pfizer (NYSE:PFE)

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