Pfizer, Inc. (NYSE:PFE) Shares Sold by Sit Investment Associates Inc.
Sit Investment Associates Inc. reduced its stake in shares of Pfizer, Inc. (NYSE:PFE) by 5.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 989,263 shares of the biopharmaceutical company’s stock after selling 61,402 shares during the period. Pfizer comprises about 0.8% of Sit Investment Associates Inc.’s holdings, making the stock its 26th largest position. Sit Investment Associates Inc.’s holdings in Pfizer were worth $33,229,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of PFE. Orbimed Advisors LLC increased its stake in Pfizer by 46.3% in the fourth quarter. Orbimed Advisors LLC now owns 5,167,900 shares of the biopharmaceutical company’s stock worth $167,853,000 after buying an additional 1,635,700 shares during the last quarter. Paulson & CO. Inc. purchased a new stake in Pfizer during the fourth quarter worth $11,439,000. E&G Advisors LP increased its stake in Pfizer by 6.8% in the first quarter. E&G Advisors LP now owns 62,258 shares of the biopharmaceutical company’s stock worth $2,130,000 after buying an additional 3,940 shares during the last quarter. Prentiss Smith & Co. Inc. increased its stake in Pfizer by 1.7% in the first quarter. Prentiss Smith & Co. Inc. now owns 14,948 shares of the biopharmaceutical company’s stock worth $511,000 after buying an additional 250 shares during the last quarter. Finally, Carroll Financial Associates Inc. increased its stake in Pfizer by 33.9% in the first quarter. Carroll Financial Associates Inc. now owns 197,820 shares of the biopharmaceutical company’s stock worth $6,767,000 after buying an additional 50,045 shares during the last quarter. Hedge funds and other institutional investors own 70.10% of the company’s stock.
Pfizer, Inc. (PFE) traded down 0.51% on Friday, reaching $33.25. The company’s stock had a trading volume of 12,928,473 shares. The stock has a market cap of $198.43 billion, a price-to-earnings ratio of 24.32 and a beta of 1.00. The firm’s 50-day moving average price is $33.40 and its 200-day moving average price is $33.31. Pfizer, Inc. has a 52-week low of $29.83 and a 52-week high of $35.38.
Pfizer (NYSE:PFE) last posted its quarterly earnings data on Tuesday, August 1st. The biopharmaceutical company reported $0.67 earnings per share for the quarter, topping 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 firm had revenue of $12.90 billion during the quarter, compared to analyst estimates of $13.08 billion. During the same period last year, the company posted $0.64 EPS. The business’s quarterly revenue was down 1.9% on a year-over-year basis. On average, equities analysts expect that Pfizer, Inc. will post $2.56 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Friday, August 4th will be given a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 3.85%. The ex-dividend date of this dividend is Wednesday, August 2nd. Pfizer’s dividend payout ratio (DPR) is presently 94.12%.
PFE has been the subject of a number of recent research reports. Cowen and Company set a $43.00 target price on Pfizer and gave the stock a “buy” rating in a research report on Monday, July 10th. Barclays PLC restated a “buy” rating and set a $38.00 target price on shares of Pfizer in a research report on Wednesday, May 3rd. Sanford C. Bernstein restated a “buy” rating and set a $37.00 target price on shares of Pfizer in a research report on Wednesday, May 3rd. UBS AG restated a “buy” rating and set a $38.00 target price on shares of Pfizer in a research report on Monday, July 31st. Finally, Jefferies Group LLC restated a “hold” rating and set a $35.00 target price (up previously from $34.00) on shares of Pfizer in a research report on Friday, July 14th. Two investment 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’s stock. Pfizer currently has a consensus rating of “Hold” and a consensus target price of $37.77.
In other news, CEO Ian C. Read sold 96,950 shares of Pfizer stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $34.00, for a total value of $3,296,300.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Alexander R. Mackenzie sold 15,000 shares of Pfizer stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $33.50, for a total value of $502,500.00. Following the completion of the transaction, the insider now directly owns 151,474 shares of the company’s stock, valued at $5,074,379. The disclosure for this sale can be found here. Company insiders own 0.06% 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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