Pfizer, Inc. (PFE) Stake Increased by Flagship Harbor Advisors LLC
Flagship Harbor Advisors LLC raised its stake in Pfizer, Inc. (NYSE:PFE) by 9.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,048 shares of the biopharmaceutical company’s stock after buying an additional 3,214 shares during the period. Flagship Harbor Advisors LLC’s holdings in Pfizer were worth $1,264,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of PFE. Norges Bank acquired a new position in Pfizer during the fourth quarter valued at $1,896,890,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new position in Pfizer during the fourth quarter valued at $289,666,000. Appaloosa LP acquired a new position in Pfizer during the fourth quarter valued at $156,229,000. I.G. Investment Management LTD. raised its position 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. Finally, Macquarie Group Ltd. raised its position in Pfizer by 8.2% in the fourth quarter. Macquarie Group Ltd. now owns 24,455,341 shares of the biopharmaceutical company’s stock valued at $794,310,000 after buying an additional 1,845,343 shares in the last quarter. Hedge funds and other institutional investors own 70.10% of the company’s stock.
Shares of Pfizer, Inc. (PFE) traded down 0.51% during midday trading on Friday, hitting $33.25. The stock had a trading volume of 12,928,473 shares. The stock’s 50-day moving average price is $33.40 and its 200 day moving average price is $33.31. The company has a market cap of $198.43 billion, a price-to-earnings ratio of 24.32 and a beta of 1.00. Pfizer, Inc. has a 52 week low of $29.83 and a 52 week high of $35.38.
Pfizer (NYSE:PFE) last released its quarterly earnings data on Tuesday, August 1st. The biopharmaceutical company reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.02. Pfizer had a net margin of 15.84% and a return on equity of 24.11%. The business had revenue of $12.90 billion during the quarter, compared to analyst estimates of $13.08 billion. During the same period in the previous year, the business earned $0.64 EPS. Pfizer’s revenue was down 1.9% compared to the same quarter last year. On average, equities analysts forecast 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. Investors of record on Friday, August 4th will be paid a $0.32 dividend. The ex-dividend date of this dividend is Wednesday, August 2nd. This represents a $1.28 dividend on an annualized basis and a yield of 3.85%. Pfizer’s dividend payout ratio is 94.12%.
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Several research analysts have weighed in on PFE shares. Citigroup Inc. lowered Pfizer from a “neutral” rating to a “sell” rating and reduced their target price for the stock from $38.00 to $31.00 in a report on Tuesday, May 16th. Barclays PLC reissued a “buy” rating and issued a $38.00 price target on shares of Pfizer in a research note on Wednesday, May 3rd. Sanford C. Bernstein reissued a “buy” rating and issued a $37.00 price target on shares of Pfizer in a research note on Wednesday, May 3rd. BMO Capital Markets reissued a “hold” rating and issued a $33.00 price target on shares of Pfizer in a research note on Thursday, April 27th. Finally, Credit Suisse Group downgraded Pfizer from an “outperform” rating to a “neutral” rating and dropped their price target for the company from $38.00 to $36.00 in a research note on Thursday, July 20th. Two research 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’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $37.77.
In related news, CEO Ian C. Read sold 96,950 shares of Pfizer stock in a transaction that occurred on Friday, August 4th. The shares were 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 this link. Also, insider Alexander R. Mackenzie sold 15,000 shares of Pfizer stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $33.50, for a total transaction of $502,500.00. Following the completion of the transaction, the insider now owns 151,474 shares of the company’s stock, valued at $5,074,379. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by insiders.
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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