Warren Averett Asset Management LLC Sells 3,869 Shares of Pfizer Inc. (PFE)
Warren Averett Asset Management LLC cut its holdings in Pfizer Inc. (NYSE:PFE) by 12.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 26,458 shares of the biopharmaceutical company’s stock after selling 3,869 shares during the quarter. Warren Averett Asset Management LLC’s holdings in Pfizer were worth $945,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of PFE. Shine Investment Advisory Services Inc. purchased a new position in shares of Pfizer in the second quarter valued at $102,000. Mckinley Capital Management LLC Delaware purchased a new position in shares of Pfizer in the second quarter valued at $103,000. D. Scott Neal Inc. grew its holdings in shares of Pfizer by 19.3% in the second quarter. D. Scott Neal Inc. now owns 3,112 shares of the biopharmaceutical company’s stock valued at $105,000 after purchasing an additional 504 shares in the last quarter. Herndon Capital Management LLC bought a new stake in Pfizer in the second quarter worth $120,000. Finally, Private Vista LLC lifted its position in Pfizer by 2,277.3% in the second quarter. Private Vista LLC now owns 199,317 shares of the biopharmaceutical company’s stock worth $133,000 after buying an additional 190,933 shares during the last quarter. 69.74% of the stock is owned by hedge funds and other institutional investors.
Shares of Pfizer Inc. (NYSE:PFE) opened at $36.47 on Thursday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.15 and a current ratio of 1.43. The firm has a market capitalization of $217,390.00, a price-to-earnings ratio of 22.37, a PEG ratio of 2.46 and a beta of 1.01. Pfizer Inc. has a 52-week low of $30.90 and a 52-week high of $37.35.
Pfizer (NYSE:PFE) last released its quarterly earnings data on Tuesday, October 31st. The biopharmaceutical company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.02. The firm had revenue of $13.17 billion during the quarter, compared to the consensus estimate of $13.17 billion. Pfizer had a return on equity of 25.41% and a net margin of 18.69%. The firm’s quarterly revenue was up .9% on a year-over-year basis. During the same period in the previous year, the company posted $0.61 earnings per share. equities research analysts predict that Pfizer Inc. will post 2.59 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Friday, February 2nd will be issued a $0.34 dividend. This is an increase from Pfizer’s previous quarterly dividend of $0.32. This represents a $1.36 annualized dividend and a dividend yield of 3.73%. The ex-dividend date of this dividend is Thursday, February 1st. Pfizer’s payout ratio is presently 78.53%.
Pfizer announced that its board has authorized a stock repurchase plan on Monday, December 18th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the biopharmaceutical company to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.
A number of analysts recently issued reports on the company. Vetr upgraded Pfizer from a “hold” rating to a “buy” rating and set a $37.98 price target for the company in a research report on Monday. BMO Capital Markets set a $39.00 price target on Pfizer and gave the stock a “buy” rating in a research report on Monday. Morgan Stanley set a $41.00 price target on Pfizer and gave the stock a “buy” rating in a research report on Friday, January 5th. Nord/LB restated a “neutral” rating on shares of Pfizer in a research report on Tuesday, January 2nd. Finally, UBS Group set a $40.00 price target on Pfizer and gave the stock a “buy” rating in a research report on Wednesday, December 6th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the company. Pfizer currently has a consensus rating of “Buy” and an average target price of $38.83.
In related news, insider Alexander R. Mackenzie sold 6,750 shares of Pfizer stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $37.00, for a total value of $249,750.00. Following the completion of the sale, the insider now directly owns 103,458 shares in the company, valued at $3,827,946. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Alexander R. Mackenzie sold 14,700 shares of Pfizer stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $35.30, for a total value of $518,910.00. Following the completion of the sale, the insider now owns 117,432 shares of the company’s stock, valued at $4,145,349.60. The disclosure for this sale can be found here. Insiders sold 29,450 shares of company stock valued at $1,065,220 over the last 90 days. 0.06% of the stock is currently owned by corporate insiders.
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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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