Tdam USA Inc. Reduces Stake in Pfizer Inc. (PFE)
Tdam USA Inc. trimmed its stake in shares of Pfizer Inc. (NYSE:PFE) by 6.6% during the third quarter, HoldingsChannel.com reports. The firm owned 278,582 shares of the biopharmaceutical company’s stock after selling 19,747 shares during the period. Tdam USA Inc.’s holdings in Pfizer were worth $9,946,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors also recently made changes to their positions in PFE. Janus Henderson Group PLC raised its position in shares of Pfizer by 243.5% during the 2nd quarter. Janus Henderson Group PLC now owns 13,175,187 shares of the biopharmaceutical company’s stock worth $442,574,000 after purchasing an additional 9,339,749 shares during the period. Vanguard Group Inc. raised its position in shares of Pfizer by 2.3% during the 2nd quarter. Vanguard Group Inc. now owns 418,639,111 shares of the biopharmaceutical company’s stock worth $14,062,088,000 after purchasing an additional 9,239,499 shares during the period. Renaissance Technologies LLC acquired a new stake in shares of Pfizer during the 2nd quarter worth approximately $268,389,000. Canada Pension Plan Investment Board raised its position in shares of Pfizer by 249.6% during the 2nd quarter. Canada Pension Plan Investment Board now owns 10,713,626 shares of the biopharmaceutical company’s stock worth $359,871,000 after purchasing an additional 7,649,416 shares during the period. Finally, Longview Partners Guernsey LTD raised its position in shares of Pfizer by 32.0% during the 3rd quarter. Longview Partners Guernsey LTD now owns 24,369,672 shares of the biopharmaceutical company’s stock worth $869,997,000 after purchasing an additional 5,901,100 shares during the period. Institutional investors and hedge funds own 69.87% of the company’s stock.
PFE has been the subject of a number of recent analyst reports. UBS Group set a $40.00 price objective on Pfizer and gave the stock a “buy” rating in a report on Wednesday, December 6th. BMO Capital Markets reissued a “buy” rating and issued a $39.00 price objective on shares of Pfizer in a report on Friday, November 10th. Zacks Investment Research raised Pfizer from a “hold” rating to a “buy” rating and set a $41.00 price objective for the company in a report on Wednesday, January 17th. Sanford C. Bernstein set a $43.00 price objective on Pfizer and gave the stock a “buy” rating in a report on Tuesday, January 30th. Finally, Vetr raised Pfizer from a “hold” rating to a “buy” rating and set a $38.82 price objective for the company in a report on Thursday, November 23rd. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and eleven have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $39.45.
Pfizer (NYSE:PFE) last issued its quarterly earnings results on Tuesday, January 30th. The biopharmaceutical company reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.06. The firm had revenue of $13.70 billion during the quarter, compared to analyst estimates of $13.67 billion. Pfizer had a return on equity of 26.86% and a net margin of 40.55%. The firm’s quarterly revenue was up .6% on a year-over-year basis. During the same period last year, the company posted $0.47 EPS. equities research analysts predict that Pfizer Inc. will post 2.95 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Friday, February 2nd will be paid a dividend of $0.34 per share. This is a positive change from Pfizer’s previous quarterly dividend of $0.32. This represents a $1.36 dividend on an annualized basis and a yield of 3.98%. The ex-dividend date is Thursday, February 1st. Pfizer’s dividend payout ratio (DPR) is presently 38.64%.
Pfizer announced that its board has authorized a stock repurchase program on Monday, December 18th that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the biopharmaceutical company to repurchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.
In other Pfizer news, EVP Rady A. Johnson sold 8,000 shares of the stock in a transaction on Friday, December 15th. The stock was sold at an average price of $37.07, for a total transaction of $296,560.00. Following the completion of the transaction, the executive vice president now directly owns 46,963 shares of the company’s stock, valued at approximately $1,740,918.41. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Alexander R. Mackenzie sold 6,750 shares of the stock in a transaction on Friday, December 15th. The shares were sold at an average price of $37.00, for a total value of $249,750.00. Following the transaction, the insider now directly owns 103,458 shares of the company’s stock, valued at $3,827,946. The disclosure for this sale can be found here. Company insiders own 0.06% of the company’s stock.
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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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