Headinvest LLC Lowers Position in Pfizer Inc. (PFE)
Headinvest LLC decreased its stake in shares of Pfizer Inc. (NYSE:PFE) by 0.6% during the first quarter, Holdings Channel reports. The institutional investor owned 31,076 shares of the biopharmaceutical company’s stock after selling 190 shares during the period. Headinvest LLC’s holdings in Pfizer were worth $1,063,000 as of its most recent SEC filing.
Several other large investors have also recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in Pfizer during the fourth quarter valued at $1,896,890,000. Asset Management One Co. Ltd. raised its stake in Pfizer by 618.4% in the fourth quarter. Asset Management One Co. Ltd. now owns 11,094,592 shares of the biopharmaceutical company’s stock valued at $360,362,000 after buying an additional 9,550,335 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new stake in Pfizer during the fourth quarter valued at $289,666,000. Appaloosa LP purchased a new stake in Pfizer during the fourth quarter valued at $156,229,000. Finally, I.G. Investment Management LTD. raised its stake in Pfizer by 24.7% in the fourth quarter. I.G. Investment Management LTD. now owns 11,087,884 shares of the biopharmaceutical company’s stock valued at $360,134,000 after buying an additional 2,194,738 shares in the last quarter. Institutional investors own 69.95% of the company’s stock.
Shares of Pfizer Inc. (PFE) opened at 33.62 on Thursday. The company has a market cap of $200.64 billion, a price-to-earnings ratio of 28.30 and a beta of 1.01. The company has a 50 day moving average price of $33.17 and a 200 day moving average price of $33.25. Pfizer Inc. has a one year low of $29.83 and a one year high of $37.39. Pfizer also was the target of some unusual options trading on Tuesday. Stock traders acquired 21,983 put options on the company. This represents an increase of approximately 351% compared to the average daily volume of 4,871 put options.
Pfizer (NYSE:PFE) last released its quarterly earnings data on Tuesday, May 2nd. The biopharmaceutical company reported $0.69 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.02. The business had revenue of $12.78 billion during the quarter, compared to analyst estimates of $13.09 billion. Pfizer had a return on equity of 21.23% and a net margin of 24.49%. The company’s revenue was down 1.7% on a year-over-year basis. During the same quarter last year, the business posted $0.67 EPS. Equities analysts predict that Pfizer Inc. will post $2.55 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 4th will be paid a dividend of $0.32 per share. The ex-dividend date of this dividend is Wednesday, August 2nd. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.81%. Pfizer’s payout ratio is currently 108.48%.
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A number of brokerages have issued reports on PFE. Citigroup Inc. cut Pfizer from a “neutral” rating to a “sell” rating and lowered their price objective for the company from $38.00 to $31.00 in a research note on Tuesday, May 16th. Morgan Stanley reiterated a “neutral” rating and set a $38.00 price objective on shares of Pfizer in a research note on Thursday, April 6th. Barclays PLC reiterated a “buy” rating and set a $38.00 price objective on shares of Pfizer in a research note on Wednesday, May 3rd. Sanford C. Bernstein reiterated a “buy” rating and set a $37.00 price objective on shares of Pfizer in a research note on Wednesday, May 3rd. Finally, BMO Capital Markets reiterated a “hold” rating and set a $33.00 price objective on shares of Pfizer in a research note on Thursday, April 27th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eleven have assigned a buy rating to the company. Pfizer presently has an average rating of “Hold” and an average price target of $37.78.
Pfizer Company Profile
Pfizer Inc (Pfizer) is a research-based global biopharmaceutical company. The Company is engaged in the discovery, development and manufacture of healthcare products. Its global portfolio includes medicines and vaccines, as well as consumer healthcare products. The Company manages its commercial operations through two business segments: Pfizer Innovative Health (IH) and Pfizer Essential Health (EH).
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