Prudential Financial Inc. Has $470.11 Million Holdings in Pfizer Inc. (PFE)
Prudential Financial Inc. raised its stake in Pfizer Inc. (NYSE:PFE) by 30.4% during the third quarter, HoldingsChannel.com reports. The fund owned 13,168,407 shares of the biopharmaceutical company’s stock after acquiring an additional 3,070,770 shares during the quarter. Pfizer accounts for about 0.8% of Prudential Financial Inc.’s holdings, making the stock its 19th largest position. Prudential Financial Inc.’s holdings in Pfizer were worth $470,113,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in the business. Shine Investment Advisory Services Inc. bought a new stake in shares of Pfizer during the second quarter worth $102,000. Mckinley Capital Management LLC Delaware bought a new stake in shares of Pfizer during the second quarter worth $103,000. D. Scott Neal Inc. grew its holdings in shares of Pfizer by 19.3% during the second quarter. D. Scott Neal Inc. now owns 3,112 shares of the biopharmaceutical company’s stock worth $105,000 after purchasing an additional 504 shares during the last quarter. Herndon Capital Management LLC bought a new stake in shares of Pfizer during the second quarter worth $120,000. Finally, Private Vista LLC grew its holdings in shares of Pfizer by 2,277.3% during the second quarter. Private Vista LLC now owns 199,317 shares of the biopharmaceutical company’s stock worth $133,000 after purchasing an additional 190,933 shares during the last quarter. Hedge funds and other institutional investors own 69.75% of the company’s stock.
In other Pfizer news, insider Alexander R. Mackenzie sold 6,750 shares of the 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 transaction, the insider now owns 103,458 shares of the company’s stock, valued at $3,827,946. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Rady A. Johnson sold 8,000 shares of the stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $37.07, for a total value of $296,560.00. Following the completion of the transaction, the executive vice president now directly owns 46,963 shares in the company, valued at approximately $1,740,918.41. The disclosure for this sale can be found here. Insiders sold 29,450 shares of company stock worth $1,065,220 in the last three months. Insiders own 0.06% of the company’s stock.
Pfizer Inc. (NYSE:PFE) opened at $37.18 on Thursday. Pfizer Inc. has a 1-year low of $30.90 and a 1-year high of $37.37. The company has a quick ratio of 1.15, a current ratio of 1.43 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $221,620.00, a PE ratio of 22.81, a P/E/G ratio of 2.45 and a beta of 1.01.
Pfizer (NYSE:PFE) last released its earnings results 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. Pfizer had a return on equity of 25.41% and a net margin of 18.69%. The firm had revenue of $13.17 billion for the quarter, compared to analyst estimates of $13.17 billion. During the same quarter in the prior year, the firm posted $0.61 earnings per share. The company’s quarterly revenue was up .9% on a year-over-year basis. equities analysts forecast that Pfizer Inc. will post 2.59 EPS for the current year.
Pfizer declared that its board has authorized a stock repurchase plan on Monday, December 18th that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the biopharmaceutical company to buy shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Friday, February 2nd will be paid a $0.34 dividend. This is a positive change from Pfizer’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Thursday, February 1st. This represents a $1.36 annualized dividend and a yield of 3.66%. Pfizer’s dividend payout ratio is presently 78.53%.
Several analysts have recently commented on PFE shares. Morgan Stanley upgraded Pfizer from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $35.00 to $39.00 in a report on Wednesday, September 20th. Zacks Investment Research upgraded Pfizer from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a report on Tuesday, October 3rd. ValuEngine upgraded Pfizer from a “hold” rating to a “buy” rating in a report on Friday, October 6th. BMO Capital Markets set a $37.00 price target on Pfizer and gave the company a “buy” rating in a report on Tuesday, October 10th. Finally, Barclays set a $38.00 price target on Pfizer and gave the company a “buy” rating in a report on Wednesday, October 11th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $38.94.
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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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