Jennison Associates LLC Has $192.76 Million Position in Pfizer Inc. (NYSE:PFE)

Jennison Associates LLC cut its stake in shares of Pfizer Inc. (NYSE:PFE) by 5.9% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,449,589 shares of the biopharmaceutical company’s stock after selling 279,858 shares during the quarter. Jennison Associates LLC owned approximately 0.08% of Pfizer worth $192,756,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Stone Ridge Asset Management LLC lifted its holdings in shares of Pfizer by 399.2% during the second quarter. Stone Ridge Asset Management LLC now owns 29,012 shares of the biopharmaceutical company’s stock valued at $1,257,000 after acquiring an additional 23,200 shares during the period. Payden & Rygel lifted its holdings in shares of Pfizer by 9.4% during the second quarter. Payden & Rygel now owns 883,870 shares of the biopharmaceutical company’s stock valued at $38,289,000 after acquiring an additional 75,700 shares during the period. Cynosure Management LLC bought a new position in shares of Pfizer during the second quarter valued at $556,000. Meristem Family Wealth LLC lifted its holdings in shares of Pfizer by 22.1% during the second quarter. Meristem Family Wealth LLC now owns 41,512 shares of the biopharmaceutical company’s stock valued at $1,798,000 after acquiring an additional 7,508 shares during the period. Finally, Good Life Advisors LLC lifted its holdings in shares of Pfizer by 3.7% during the second quarter. Good Life Advisors LLC now owns 24,575 shares of the biopharmaceutical company’s stock valued at $1,070,000 after acquiring an additional 873 shares during the period. 71.58% of the stock is owned by institutional investors.

Shares of Pfizer stock traded down $0.74 during trading on Friday, reaching $34.34. The company’s stock had a trading volume of 20,323,181 shares, compared to its average volume of 35,302,192. The stock has a 50-day moving average price of $39.60 and a two-hundred day moving average price of $41.43. The company has a current ratio of 1.47, a quick ratio of 1.21 and a debt-to-equity ratio of 0.60. Pfizer Inc. has a one year low of $33.97 and a one year high of $46.47. The stock has a market capitalization of $194.03 billion, a P/E ratio of 11.45, a price-to-earnings-growth ratio of 2.80 and a beta of 0.63.

Pfizer (NYSE:PFE) last released its quarterly earnings results on Monday, July 29th. The biopharmaceutical company reported $0.80 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.75 by $0.05. Pfizer had a return on equity of 28.10% and a net margin of 23.58%. The business had revenue of $13.26 billion during the quarter, compared to analysts’ expectations of $13.43 billion. During the same period in the previous year, the business posted $0.77 earnings per share. The firm’s revenue for the quarter was down 1.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Pfizer Inc. will post 2.8 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Friday, August 2nd will be issued a $0.36 dividend. The ex-dividend date is Thursday, August 1st. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.19%. Pfizer’s dividend payout ratio is 48.00%.

A number of research analysts have issued reports on the company. Bank of America cut Pfizer from a “buy” rating to a “neutral” rating in a report on Tuesday, July 30th. JPMorgan Chase & Co. set a $46.00 price objective on Pfizer and gave the company a “neutral” rating in a report on Monday, July 29th. Goldman Sachs Group reissued a “buy” rating and set a $49.00 price objective on shares of Pfizer in a report on Monday, June 17th. UBS Group reissued a “neutral” rating and set a $43.00 price objective on shares of Pfizer in a report on Monday, August 5th. Finally, Barclays reissued a “hold” rating and set a $41.00 price objective on shares of Pfizer in a report on Thursday, May 9th. Fourteen equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $46.67.

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

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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