Investors Buy Pfizer Inc. (PFE) on Weakness
Traders purchased shares of Pfizer Inc. (NYSE:PFE) on weakness during trading hours on Friday. $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 stocks 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
PFE has been the topic of several analyst reports. Goldman Sachs Group Inc. reiterated a “neutral” rating and set a $35.00 target price on shares of Pfizer in a research report on Monday, April 18th. Vetr downgraded Pfizer from a “buy” rating to a “hold” rating and set a $34.19 target price on the stock. in a research report on Tuesday, April 19th. BMO Capital Markets reiterated a “buy” rating on shares of Pfizer in a research report on Thursday, April 28th. Leerink Swann lowered their target price on Pfizer from $37.00 to $34.70 and set a “market perform” rating on the stock in a research report on Monday, May 2nd. Finally, Sanford C. Bernstein set a $36.00 target price on Pfizer and gave the company a “buy” rating in a research report on Tuesday, May 3rd. Ten equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $38.17.
The stock’s 50-day moving average is $35.89 and its 200 day moving average is $32.91. The firm has a market capitalization of $212.15 billion and a price-to-earnings ratio of 31.01.
Pfizer (NYSE:PFE) last posted its earnings results on Tuesday, August 2nd. The biopharmaceutical company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.02. The firm had revenue of $13.10 billion for the quarter, compared to analysts’ expectations of $13.01 billion. The company’s revenue was up 10.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.56 earnings per share. Equities research analysts forecast that Pfizer Inc. will post $2.46 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 1st. Investors of record on Friday, August 5th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 3.43%. The ex-dividend date is Wednesday, August 3rd.
In related news, VP Loretta V. Cangialosi sold 86,000 shares of the firm’s stock in a transaction dated Tuesday, May 24th. The shares were sold at an average price of $33.97, for a total value of $2,921,420.00. Following the transaction, the vice president now directly owns 271,663 shares of the company’s stock, valued at approximately $9,228,392.11. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Frank A. Damelio sold 100,000 shares of the firm’s stock in a transaction dated Thursday, May 26th. The shares were sold at an average price of $34.49, for a total transaction of $3,449,000.00. Following the completion of the transaction, the executive vice president now directly owns 472,994 shares in the company, valued at $16,313,563.06. The disclosure for this sale can be found here.
A number of hedge funds and institutional investors recently modified their holdings of the stock. 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 in the last quarter. 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 in the last quarter. 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 in the last quarter. 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 in the last quarter. Finally, TD Asset Management Inc. raised its position in shares of Pfizer by 0.4% in the fourth quarter. TD Asset Management Inc. now owns 6,391,499 shares of the biopharmaceutical company’s stock worth $206,318,000 after buying an additional 22,815 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.