Traders Buy Pfizer, Inc. (NYSE:PFE) on Weakness
Traders purchased shares of Pfizer, Inc. (NYSE:PFE) on weakness during trading hours on Monday. $99.73 million flowed into the stock on the tick-up and $63.23 million flowed out of the stock on the tick-down, for a money net flow of $36.50 million into the stock. Of all equities tracked, Pfizer had the 12th highest net in-flow for the day. Pfizer traded down ($0.33) for the day and closed at $33.31
Several brokerages recently commented on PFE. Citigroup Inc. cut Pfizer from a “neutral” rating to a “sell” rating and reduced their target price for the company from $38.00 to $31.00 in a report on Tuesday, May 16th. BidaskClub upgraded Pfizer from a “strong sell” rating to a “sell” rating in a report on Saturday. Jefferies Group LLC set a $35.00 target price on Pfizer and gave the company a “neutral” rating in a report on Wednesday, August 2nd. BMO Capital Markets upgraded Pfizer from a “market perform” rating to an “outperform” rating and upped their target price for the company from $33.00 to $37.00 in a report on Wednesday, August 2nd. Finally, Barclays PLC reiterated a “buy” rating and issued a $38.00 target price on shares of Pfizer in a report on Wednesday, May 3rd. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and ten have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $37.77.
The stock has a market cap of $198.61 billion, a P/E ratio of 24.35 and a beta of 1.00. The firm has a 50-day moving average price of $33.43 and a 200 day moving average price of $33.25.
Pfizer (NYSE:PFE) last released its quarterly earnings results on Tuesday, August 1st. The biopharmaceutical company reported $0.67 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.02. Pfizer had a return on equity of 24.11% and a net margin of 15.84%. The company had revenue of $12.90 billion for the quarter, compared to analyst estimates of $13.08 billion. During the same period in the previous year, the company posted $0.64 earnings per share. The firm’s revenue was down 1.9% on a year-over-year basis. On average, equities research analysts predict that Pfizer, Inc. will post $2.56 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 4th will be given a dividend of $0.32 per share. The ex-dividend date of this dividend is Wednesday, August 2nd. This represents a $1.28 annualized dividend and a dividend yield of 3.85%. Pfizer’s dividend payout ratio is presently 94.12%.
In related news, CEO Ian C. Read sold 96,950 shares of Pfizer stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $34.00, for a total transaction of $3,296,300.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.06% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the stock. Bronfman E.L. Rothschild L.P. raised its stake in Pfizer by 21.6% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 166,001 shares of the biopharmaceutical company’s stock valued at $5,576,000 after buying an additional 29,477 shares in the last quarter. Sentry Investments Corp. raised its stake in Pfizer by 375.9% in the second quarter. Sentry Investments Corp. now owns 2,735,100 shares of the biopharmaceutical company’s stock valued at $91,872,000 after buying an additional 2,160,400 shares in the last quarter. ARGI Investment Services LLC raised its stake in Pfizer by 80.5% in the second quarter. ARGI Investment Services LLC now owns 52,806 shares of the biopharmaceutical company’s stock valued at $1,774,000 after buying an additional 23,554 shares in the last quarter. Covington Investment Advisors Inc. raised its stake in Pfizer by 4.4% in the second quarter. Covington Investment Advisors Inc. now owns 72,122 shares of the biopharmaceutical company’s stock valued at $2,423,000 after buying an additional 3,025 shares in the last quarter. Finally, Commerce Bank raised its stake in Pfizer by 1.4% in the second quarter. Commerce Bank now owns 2,570,619 shares of the biopharmaceutical company’s stock valued at $86,347,000 after buying an additional 35,502 shares in the last quarter. Institutional investors own 70.10% of the company’s stock.
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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