Pfizer Inc. (PFE) Shares Down 2.9%
Pfizer Inc. (NYSE:PFE) shares fell 2.9% during trading on Wednesday . The company traded as low as $35.25 and last traded at $35.33, with a volume of 20,460,334 shares changing hands. The stock had previously closed at $36.39.
A number of brokerages have recently commented on PFE. Vetr raised Pfizer from a “hold” rating to a “buy” rating and set a $38.08 price objective on the stock in a report on Tuesday. BMO Capital Markets reissued a “buy” rating on shares of Pfizer in a report on Thursday, April 28th. Sanford C. Bernstein set a $36.00 price objective on Pfizer and gave the company a “buy” rating in a report on Tuesday, May 3rd. Independent Research GmbH set a $37.00 price objective on Pfizer and gave the company a “neutral” rating in a report on Wednesday, May 4th. Finally, Goldman Sachs Group Inc. reissued a “neutral” rating and set a $35.00 price objective on shares of Pfizer in a report on Monday, April 18th. Ten investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. Pfizer presently has a consensus rating of “Buy” and an average target price of $38.17.
The stock has a market cap of $214.70 billion and a P/E ratio of 31.38. The company’s 50-day moving average is $35.79 and its 200-day moving average is $32.73.
Pfizer (NYSE:PFE) last announced its quarterly earnings results on Tuesday, August 2nd. The biopharmaceutical company reported $0.64 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.02. During the same quarter in the prior year, the company earned $0.56 earnings per share. The company earned $13.10 billion during the quarter, compared to analysts’ expectations of $13.01 billion. The business’s revenue for the quarter was up 10.9% on a year-over-year basis. On average, analysts expect that Pfizer Inc. will post $2.45 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 1st. Shareholders of record on Friday, August 5th will be paid a $0.30 dividend. The ex-dividend date is Wednesday, August 3rd. This represents a $1.20 annualized dividend and a yield of 3.41%.
In other news, CEO Ian C. Read sold 275,000 shares of the firm’s stock in a transaction that occurred on Monday, May 9th. The shares were sold at an average price of $33.80, for a total transaction of $9,295,000.00. Following the transaction, the chief executive officer now directly owns 1,446,738 shares in the company, valued at $48,899,744.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Laurie J. Olson sold 4,700 shares of the firm’s stock in a transaction that occurred on Wednesday, May 11th. The stock was sold at an average price of $33.50, for a total transaction of $157,450.00. Following the transaction, the executive vice president now owns 71,659 shares in the company, valued at $2,400,576.50. The disclosure for this sale can be found here.
Other institutional investors have made changes to their positions in the company. BlackRock Advisors LLC raised 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 worth $1,355,494,000 after buying an additional 502,056 shares during the period. PNC Financial Services Group Inc. raised its position in shares of 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 worth $786,951,000 after buying an additional 3,522,873 shares during the period. Swiss National Bank raised its position in shares of Pfizer by 1.4% in the fourth quarter. Swiss National Bank now owns 12,075,889 shares of the biopharmaceutical company’s stock worth $389,810,000 after buying an additional 161,900 shares during the period. Jennison Associates LLC raised its position in shares of Pfizer by 24.7% in the fourth quarter. Jennison Associates LLC now owns 11,912,098 shares of the biopharmaceutical company’s stock worth $384,523,000 after buying an additional 2,361,977 shares during the period. Finally, Diamond Hill Capital Management Inc. raised its position in shares of Pfizer by 3.3% in the fourth quarter. Diamond Hill Capital Management Inc. now owns 10,721,361 shares of the biopharmaceutical company’s stock worth $346,086,000 after buying an additional 340,439 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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