Pioneer Investment Management Inc. lowered its stake in Pfizer, Inc. (NYSE:PFE) by 6.7% during the first quarter, Holdings Channel reports. The fund owned 8,844,361 shares of the biopharmaceutical company’s stock after selling 632,524 shares during the period. Pfizer accounts for 1.0% of Pioneer Investment Management Inc.’s investment portfolio, making the stock its 23rd largest position. Pioneer Investment Management Inc.’s holdings in Pfizer were worth $302,566,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PFE. Silvercrest Asset Management Group LLC increased its position in Pfizer by 5.2% in the fourth quarter. Silvercrest Asset Management Group LLC now owns 2,791,070 shares of the biopharmaceutical company’s stock valued at $90,654,000 after buying an additional 138,383 shares during the last quarter. Fred Alger Management Inc. increased its position in Pfizer by 2.0% in the fourth quarter. Fred Alger Management Inc. now owns 113,137 shares of the biopharmaceutical company’s stock valued at $3,675,000 after buying an additional 2,270 shares during the last quarter. Arbor Wealth Management LLC increased its position in Pfizer by 6.3% in the fourth quarter. Arbor Wealth Management LLC now owns 46,741 shares of the biopharmaceutical company’s stock valued at $1,526,000 after buying an additional 2,768 shares during the last quarter. Roundview Capital LLC increased its position in Pfizer by 9.5% in the fourth quarter. Roundview Capital LLC now owns 55,150 shares of the biopharmaceutical company’s stock valued at $1,791,000 after buying an additional 4,800 shares during the last quarter. Finally, Sandhill Capital Partners LLC increased its position in Pfizer by 8.2% in the fourth quarter. Sandhill Capital Partners LLC now owns 20,516 shares of the biopharmaceutical company’s stock valued at $666,000 after buying an additional 1,548 shares during the last quarter. Institutional investors own 69.95% of the company’s stock.

Pfizer, Inc. (NYSE:PFE) opened at 33.64 on Friday. Pfizer, Inc. has a 52 week low of $29.83 and a 52 week high of $35.95. The company has a 50 day moving average price of $33.38 and a 200 day moving average price of $33.25. The stock has a market cap of $200.76 billion, a price-to-earnings ratio of 24.61 and a beta of 1.00.

Pfizer (NYSE:PFE) last announced its quarterly earnings data on Tuesday, August 1st. The biopharmaceutical company reported $0.67 EPS for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.02. The firm had revenue of $12.90 billion during the quarter, compared to the consensus estimate of $13.08 billion. Pfizer had a net margin of 15.84% and a return on equity of 24.11%. The firm’s revenue was down 1.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.64 earnings per share. Analysts expect that Pfizer, Inc. will post $2.56 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 4th will be given a $0.32 dividend. The ex-dividend date is Wednesday, August 2nd. This represents a $1.28 dividend on an annualized basis and a yield of 3.80%. Pfizer’s payout ratio is currently 94.12%.

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Several research analysts have commented on the company. BidaskClub upgraded Pfizer from a “strong sell” rating to a “sell” rating in a report on Friday, June 23rd. Jefferies Group LLC reiterated a “neutral” rating and issued a $35.00 price target (up from $34.00) on shares of Pfizer in a report on Thursday, April 13th. BMO Capital Markets reiterated a “hold” rating and issued a $33.00 price target on shares of Pfizer in a report on Thursday, April 27th. Sanford C. Bernstein reiterated a “buy” rating and issued a $35.00 price target on shares of Pfizer in a report on Monday, April 24th. Finally, Credit Suisse Group downgraded Pfizer from an “outperform” rating to a “neutral” rating and cut their price target for the company from $38.00 to $36.00 in a report on Thursday, July 20th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and ten have given a buy rating to the company. Pfizer presently has an average rating of “Hold” and an average price target of $37.77.

About Pfizer

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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Institutional Ownership by Quarter for Pfizer (NYSE:PFE)

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