Traders Buy Shares of Pfizer Inc. (PFE) on Weakness
Investors bought shares of Pfizer Inc. (NYSE:PFE) on weakness during trading on Monday. $125.88 million flowed into the stock on the tick-up and $78.59 million flowed out of the stock on the tick-down, for a money net flow of $47.29 million into the stock. Of all companies tracked, Pfizer had the 8th highest net in-flow for the day. Pfizer traded down ($0.17) for the day and closed at $34.98
A number of analysts have recently issued reports on the stock. Barclays PLC reissued an “equal weight” rating and set a $34.00 target price on shares of Pfizer in a research note on Tuesday, August 2nd. Sanford C. Bernstein set a $38.00 target price on shares of Pfizer and gave the company a “buy” rating in a research note on Tuesday, August 2nd. Vetr lowered shares of Pfizer from a “buy” rating to a “hold” rating and set a $37.97 target price for the company. in a research note on Thursday, July 14th. Jefferies Group set a $40.00 price objective on shares of Pfizer and gave the stock a “buy” rating in a research note on Monday, August 1st. Finally, JPMorgan Chase & Co. set a $40.00 price objective on shares of Pfizer and gave the stock a “buy” rating in a research note on Monday, July 25th. Ten research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $38.17.
The company has a 50 day moving average of $35.92 and a 200-day moving average of $32.98. The company has a market cap of $212.39 billion and a price-to-earnings ratio of 31.05.
Pfizer (NYSE:PFE) last posted its earnings results on Tuesday, August 2nd. The biopharmaceutical company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.02. The business had revenue of $13.10 billion for the quarter, compared to analysts’ expectations of $13.01 billion. During the same quarter in the previous year, the firm earned $0.56 EPS. Pfizer’s revenue for the quarter was up 10.9% compared to the same quarter last year. Equities research analysts forecast that Pfizer Inc. will post $2.46 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 1st. Investors of record on Friday, August 5th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 3.42%. The ex-dividend date is Wednesday, August 3rd.
In related news, EVP Frank A. Damelio sold 100,000 shares of the business’s stock in a transaction that occurred on Thursday, May 26th. The stock was sold at an average price of $34.49, for a total transaction of $3,449,000.00. Following the completion of the sale, the executive vice president now owns 472,994 shares in the company, valued at $16,313,563.06. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Loretta V. Cangialosi sold 86,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 24th. The stock was sold at an average price of $33.97, for a total value of $2,921,420.00. Following the sale, the vice president now owns 271,663 shares of the company’s stock, valued at approximately $9,228,392.11. The disclosure for this sale can be found here.
A number of large investors have bought and sold shares of the company. BlackRock Advisors LLC boosted its stake in 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 last quarter. PNC Financial Services Group Inc. raised its position in Pfizer by 16.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 24,378,870 shares of the biopharmaceutical company’s stock valued at $786,951,000 after buying an additional 3,522,873 shares during the period. Swiss National Bank raised its position in Pfizer by 1.4% in the fourth quarter. Swiss National Bank now owns 12,075,889 shares of the biopharmaceutical company’s stock valued at $389,810,000 after buying an additional 161,900 shares during the period. Jennison Associates LLC raised its position in Pfizer by 24.7% in the fourth quarter. Jennison Associates LLC now owns 11,912,098 shares of the biopharmaceutical company’s stock valued at $384,523,000 after buying an additional 2,361,977 shares during the period. Finally, TD Asset Management Inc. raised its position in Pfizer by 0.4% in the fourth quarter. TD Asset Management Inc. now owns 6,391,499 shares of the biopharmaceutical company’s stock valued at $206,318,000 after buying an additional 22,815 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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