Pfizer Inc. (PFE) Shares Gap Up to $36.89
Pfizer Inc. (NYSE:PFE)’s share price gapped up before the market opened on Monday . The stock had previously closed at $36.86, but opened at $36.89. Pfizer shares last traded at $37.24, with a volume of 14,900,739 shares traded.
Several research firms have recently issued reports on PFE. Sanford C. Bernstein set a $36.00 target price on Pfizer and gave the stock a “buy” rating in a research report on Tuesday, May 3rd. Independent Research GmbH set a $37.00 target price on Pfizer and gave the stock a “neutral” rating in a research report on Wednesday, May 4th. Leerink Swann decreased their target price on Pfizer from $37.00 to $34.70 and set a “market perform” rating for the company in a research report on Monday, May 2nd. Bank of America Corp. restated a “buy” rating and set a $28.25 target price (down from $38.48) on shares of Pfizer in a research report on Tuesday, May 10th. Finally, Piper Jaffray Cos. restated an “overweight” rating and set a $54.00 target price on shares of Pfizer in a research report on Monday, June 27th. Ten investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $38.19.
The stock has a market cap of $226.28 billion and a PE ratio of 30.58. The company’s 50-day moving average price is $35.73 and its 200 day moving average price is $32.66.
Pfizer (NYSE:PFE) last issued its earnings results on Tuesday, May 3rd. The biopharmaceutical company reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.12. The firm earned $13 billion during the quarter, compared to the consensus estimate of $12 billion. Pfizer’s revenue for the quarter was up 19.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.51 earnings per share. On average, equities research analysts predict that Pfizer Inc. will post $2.45 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 1st. Investors of record on Friday, August 5th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.22%. The ex-dividend date of this dividend is Wednesday, August 3rd.
In related news, EVP Sally Susman sold 76,116 shares of the stock in a transaction on Thursday, May 5th. The stock was sold at an average price of $33.75, for a total value of $2,568,915.00. Following the transaction, the executive vice president now directly owns 195,951 shares in the company, valued at approximately $6,613,346.25. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Mikael Dolsten sold 67,588 shares of the stock in a transaction on Wednesday, May 4th. The stock was sold at an average price of $33.46, for a total value of $2,261,494.48. Following the completion of the transaction, the insider now owns 438,107 shares in the company, valued at $14,659,060.22. The disclosure for this sale can be found here.
Several institutional investors have recently modified their holdings of the company. Montag A & Associates Inc. boosted its position in shares of Pfizer by 0.9% in the fourth quarter. Montag A & Associates Inc. now owns 192,946 shares of the biopharmaceutical company’s stock worth $6,228,000 after buying an additional 1,755 shares in the last quarter. BlackRock Advisors LLC boosted its position in shares of Pfizer by 1.2% in the fourth quarter. BlackRock Advisors LLC now owns 41,991,752 shares of the biopharmaceutical company’s stock valued at $1,355,494,000 after buying an additional 502,056 shares during the period. Westfield Capital Management Co. LP boosted its position in shares of Pfizer by 10.3% in the fourth quarter. Westfield Capital Management Co. LP now owns 161,975 shares of the biopharmaceutical company’s stock valued at $5,229,000 after buying an additional 15,170 shares during the period. Nicholas Co. Inc. WI boosted its position in shares of Pfizer by 21.5% in the fourth quarter. Nicholas Co. Inc. WI now owns 3,579,485 shares of the biopharmaceutical company’s stock valued at $115,545,000 after buying an additional 633,730 shares during the period. Finally, Marco Investment Management LLC boosted its position in shares of Pfizer by 13.5% in the fourth quarter. Marco Investment Management LLC now owns 142,755 shares of the biopharmaceutical company’s stock valued at $4,608,000 after buying an additional 17,002 shares during the period.
Pfizer Inc is a research-based global biopharmaceutical company. The Company is engaged in discovering, developing and manufacturing of healthcare products. Its portfolio includes medicines, vaccines and medical devices, as well as consumer healthcare products. Its products include Prevnar/Prevenar 13, Lyrica, Enbrel, Lipitor, Viagra, Sutent, BeneFIX, Genotropin, ReFacto, Xyntha and Enbrel.
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