Exchange Capital Management Inc. Lowers Holdings in Pfizer Inc. (PFE)
Exchange Capital Management Inc. decreased its position in Pfizer Inc. (NYSE:PFE) by 13.7% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 13,964 shares of the biopharmaceutical company’s stock after selling 2,213 shares during the period. Exchange Capital Management Inc.’s holdings in Pfizer were worth $499,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of PFE. Shine Investment Advisory Services Inc. purchased a new stake in shares of Pfizer in the second quarter valued at $102,000. Mckinley Capital Management LLC Delaware purchased a new stake in shares of Pfizer in the second quarter valued at $103,000. D. Scott Neal Inc. lifted its position 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 acquiring an additional 504 shares in the last quarter. Herndon Capital Management LLC purchased a new stake in shares of Pfizer in the second quarter valued at $120,000. Finally, Private Vista LLC lifted its position in shares of Pfizer by 2,277.3% in the second quarter. Private Vista LLC now owns 199,317 shares of the biopharmaceutical company’s stock valued at $133,000 after acquiring an additional 190,933 shares in the last quarter. 69.75% of the stock is currently owned by institutional investors.
Several brokerages have recently issued reports on PFE. BMO Capital Markets set a $39.00 price objective on Pfizer and gave the company a “buy” rating in a research report on Monday, January 8th. Zacks Investment Research upgraded Pfizer from a “hold” rating to a “buy” rating and set a $41.00 price objective on the stock in a research report on Wednesday. Vetr downgraded Pfizer from a “buy” rating to a “hold” rating and set a $37.98 price objective on the stock. in a research report on Monday. Jefferies Group set a $40.00 price objective on Pfizer and gave the company a “neutral” rating in a research report on Tuesday. Finally, Morgan Stanley set a $41.00 price objective on Pfizer and gave the company a “buy” rating in a research report on Friday, January 5th. Two equities 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 stock currently has an average rating of “Buy” and an average target price of $38.94.
Pfizer Inc. (PFE) opened at $36.99 on Friday. Pfizer Inc. has a 12-month low of $30.90 and a 12-month high of $37.37. The firm has a market capitalization of $220,490.00, a PE ratio of 22.69, a P/E/G ratio of 2.45 and a beta of 1.01. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.15 and a current ratio of 1.43.
Pfizer (NYSE:PFE) last released its earnings results on Tuesday, October 31st. 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 25.41% and a net margin of 18.69%. The firm had revenue of $13.17 billion for the quarter, compared to the consensus estimate of $13.17 billion. During the same period in the prior year, the business posted $0.61 earnings per share. The firm’s revenue for the quarter was up .9% compared to the same quarter last year. analysts predict that Pfizer Inc. will post 2.59 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Friday, February 2nd will be given a dividend of $0.34 per share. The ex-dividend date is Thursday, February 1st. This is an increase from Pfizer’s previous quarterly dividend of $0.32. This represents a $1.36 annualized dividend and a yield of 3.68%. Pfizer’s dividend payout ratio is 78.53%.
Pfizer announced that its Board of Directors has approved a stock buyback program on Monday, December 18th that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the biopharmaceutical company to repurchase shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.
In other Pfizer news, insider Alexander R. Mackenzie sold 6,750 shares of the company’s stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $37.00, for a total transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Rady A. Johnson sold 8,000 shares of the company’s stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $37.07, for a total value of $296,560.00. Following the sale, the executive vice president now owns 46,963 shares of the company’s stock, valued at $1,740,918.41. The disclosure for this sale can be found here. Insiders have sold 29,450 shares of company stock worth $1,065,220 over the last quarter. 0.06% of the stock is currently owned by company 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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