RB Capital Management LLC Cuts Stake in Pfizer, Inc. (PFE)
RB Capital Management LLC lowered its stake in shares of Pfizer, Inc. (NYSE:PFE) by 0.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,479 shares of the biopharmaceutical company’s stock after selling 78 shares during the period. RB Capital Management LLC’s holdings in Pfizer were worth $318,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently added to or reduced their stakes in PFE. Boston Partners increased its stake in shares of Pfizer by 7.3% during the first quarter. Boston Partners now owns 24,263,989 shares of the biopharmaceutical company’s stock worth $830,071,000 after purchasing an additional 1,649,801 shares in the last quarter. Bank of Nova Scotia grew its stake in Pfizer by 325.9% during the 1st quarter. Bank of Nova Scotia now owns 1,934,514 shares of the biopharmaceutical company’s stock valued at $66,180,000 after acquiring an additional 1,480,258 shares in the last quarter. State of Tennessee Treasury Department grew its stake in Pfizer by 22.7% during the 1st quarter. State of Tennessee Treasury Department now owns 4,891,784 shares of the biopharmaceutical company’s stock valued at $167,348,000 after acquiring an additional 904,413 shares in the last quarter. Achmea Investment Management B.V. purchased a new stake in Pfizer during the 1st quarter valued at about $25,502,000. Finally, Oppenheimer Asset Management Inc. purchased a new stake in Pfizer during the 1st quarter valued at about $21,605,000. 69.00% of the stock is owned by institutional investors and hedge funds.
Several analysts recently issued reports on the stock. Berenberg Bank reaffirmed a “hold” rating and set a $36.00 price objective (down previously from $39.00) on shares of Pfizer in a research note on Tuesday, August 15th. Jefferies Group LLC set a $37.00 price objective on shares of Pfizer and gave the company a “neutral” rating in a research note on Monday, September 18th. Sanford C. Bernstein set a $39.00 price objective on shares of Pfizer and gave the company a “buy” rating in a research note on Tuesday, September 19th. BidaskClub raised shares of Pfizer from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 5th. Finally, Cowen and Company set a $43.00 price objective on shares of Pfizer and gave the company a “buy” rating in a research note on Monday, August 14th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and eleven have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $38.04.
Shares of Pfizer, Inc. (NYSE:PFE) traded down 0.03% during trading on Friday, hitting $35.96. 14,605,376 shares of the stock traded hands. The firm has a market cap of $213.87 billion, a PE ratio of 26.31 and a beta of 1.00. Pfizer, Inc. has a 52-week low of $29.83 and a 52-week high of $36.12. The company’s 50 day moving average is $33.78 and its 200 day moving average is $33.53.
Pfizer (NYSE:PFE) last released its earnings results on Tuesday, August 1st. The biopharmaceutical company reported $0.67 earnings per share (EPS) 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 24.51%. The firm had revenue of $12.90 billion during the quarter, compared to the consensus estimate of $13.08 billion. During the same period in the previous year, the firm earned $0.64 earnings per share. Pfizer’s revenue was down 1.9% compared to the same quarter last year. On average, equities research analysts predict that Pfizer, Inc. will post $2.56 EPS for the current year.
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In related news, insider Sally Susman sold 38,230 shares of the business’s stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $35.00, for a total value of $1,338,050.00. Following the completion of the sale, the insider now directly owns 145,649 shares in the company, valued at $5,097,715. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Alexander R. Mackenzie sold 7,350 shares of the business’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $34.00, for a total transaction of $249,900.00. Following the completion of the sale, the insider now owns 124,774 shares of the company’s stock, valued at $4,242,316. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 464,521 shares of company stock valued at $15,813,961. 0.06% of the stock is owned by insiders.
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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