Traders Buy Pfizer Inc. (PFE) on Weakness
Traders purchased shares of Pfizer Inc. (NYSE:PFE) on weakness during trading on Friday. $160.06 million flowed into the stock on the tick-up and $105.21 million flowed out of the stock on the tick-down, for a money net flow of $54.85 million into the stock. Of all equities tracked, Pfizer had the 11th highest net in-flow for the day. Pfizer traded down ($0.21) for the day and closed at $34.98
Several brokerages recently issued reports on PFE. BMO Capital Markets reiterated a “buy” rating on shares of Pfizer in a research note on Thursday, April 28th. Sanford C. Bernstein set a $36.00 price target on Pfizer and gave the company a “buy” rating in a research note on Tuesday, May 3rd. Independent Research GmbH set a $37.00 price target on Pfizer and gave the company a “neutral” rating in a research note on Wednesday, May 4th. Societe Generale set a $34.00 price target on Pfizer and gave the company a “neutral” rating in a research note on Wednesday, May 4th. Finally, Zacks Investment Research upgraded Pfizer from a “hold” rating to a “buy” rating and set a $38.00 price target for the company in a research note on Friday, May 6th. Ten investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $38.29.
The stock has a 50-day moving average price of $35.97 and a 200-day moving average price of $33.08. The company has a market cap of $212.18 billion and a P/E ratio of 31.01.
Pfizer (NYSE:PFE) last posted its quarterly earnings data on Tuesday, August 2nd. The biopharmaceutical company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.02. The company had revenue of $13.10 billion for the quarter, compared to the consensus estimate of $13.01 billion. The business’s revenue was up 10.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.56 earnings per share. Equities analysts forecast that Pfizer Inc. will post $2.46 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 1st. Stockholders of record on Friday, August 5th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.43%. The ex-dividend date is Wednesday, August 3rd.
In other news, VP Loretta V. Cangialosi sold 86,000 shares of Pfizer stock in a transaction on Tuesday, May 24th. The shares were sold at an average price of $33.97, for a total transaction of $2,921,420.00. Following the completion of the sale, the vice president now directly owns 271,663 shares of the company’s stock, valued at approximately $9,228,392.11. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Frank A. Damelio sold 100,000 shares of the business’s stock in a transaction 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 directly owns 472,994 shares of the company’s stock, valued at $16,313,563.06. The disclosure for this sale can be found here.
A number of hedge funds have bought and sold shares of PFE. Mycio Wealth Partners LLC increased its stake in Pfizer by 5.8% in the fourth quarter. Mycio Wealth Partners LLC now owns 33,436 shares of the biopharmaceutical company’s stock valued at $1,079,000 after buying an additional 1,825 shares in the last quarter. Cobblestone Capital Advisors LLC NY increased its stake in Pfizer by 12.1% in the fourth quarter. Cobblestone Capital Advisors LLC NY now owns 34,231 shares of the biopharmaceutical company’s stock valued at $1,105,000 after buying an additional 3,700 shares in the last quarter. Midas Management Corp increased its stake in Pfizer by 5.5% in the fourth quarter. Midas Management Corp now owns 40,000 shares of the biopharmaceutical company’s stock valued at $1,291,000 after buying an additional 2,076 shares in the last quarter. Private Capital Management Inc. acquired a new stake in Pfizer during the fourth quarter valued at $1,298,000. Finally, Jackson Wealth Management LLC increased its stake in Pfizer by 0.4% in the fourth quarter. Jackson Wealth Management LLC now owns 51,115 shares of the biopharmaceutical company’s stock valued at $1,585,000 after buying an additional 214 shares in the last quarter.
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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