Institutional & Family Asset Management LLC Has $639,000 Stake in Pfizer Inc. (PFE)
Institutional & Family Asset Management LLC lifted its position in Pfizer Inc. (NYSE:PFE) by 23.7% during the third quarter, Holdings Channel reports. The institutional investor owned 17,890 shares of the biopharmaceutical company’s stock after buying an additional 3,429 shares during the quarter. Institutional & Family Asset Management LLC’s holdings in Pfizer were worth $639,000 as of its most recent SEC filing.
Several other institutional investors have also recently modified their holdings of PFE. Shine Investment Advisory Services Inc. purchased a new stake in Pfizer during the 2nd quarter worth approximately $102,000. Mckinley Capital Management LLC Delaware purchased a new stake in Pfizer during the 2nd quarter worth approximately $103,000. Herndon Capital Management LLC purchased a new stake in Pfizer during the 2nd quarter worth approximately $120,000. Americafirst Capital Management LLC purchased a new stake in Pfizer during the 3rd quarter worth approximately $127,000. Finally, Private Vista LLC grew its position in Pfizer by 2,277.3% during the 2nd 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. 70.12% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Pfizer Inc. (NYSE PFE) opened at $35.95 on Monday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.10 and a current ratio of 1.35. Pfizer Inc. has a 12 month low of $31.67 and a 12 month high of $39.43. The company has a market cap of $214,290.00, a P/E ratio of 20.54, a price-to-earnings-growth ratio of 2.03 and a beta of 0.91.
Pfizer declared that its board has initiated 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 generally an indication that the company’s board of directors believes its stock is undervalued.
The company also recently announced a quarterly dividend, which was paid on Thursday, March 1st. Investors of record on Friday, February 2nd were paid a $0.34 dividend. This is a boost from Pfizer’s previous quarterly dividend of $0.32. This represents a $1.36 annualized dividend and a dividend yield of 3.78%. The ex-dividend date of this dividend was Thursday, February 1st. Pfizer’s payout ratio is currently 77.71%.
In related news, insider Alexander R. Mackenzie sold 6,750 shares of the business’s 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 completion of the transaction, the insider now directly owns 103,458 shares in the company, valued at approximately $3,827,946. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Kirsten Lund-Jurgensen sold 9,510 shares of the business’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $37.19, for a total transaction of $353,676.90. Following the completion of the transaction, the insider now owns 36,959 shares of the company’s stock, valued at $1,374,505.21. The disclosure for this sale can be found here. Over the last quarter, insiders sold 59,386 shares of company stock valued at $2,200,281. Company insiders own 0.06% of the company’s stock.
Several analysts have weighed in on the stock. BMO Capital Markets set a $39.00 target price on shares of Pfizer and gave the stock a “buy” rating in a research report on Tuesday, January 30th. SunTrust Banks reissued a “hold” rating and set a $40.00 target price (up previously from $33.00) on shares of Pfizer in a research report on Monday, January 29th. Morgan Stanley boosted their target price on shares of Pfizer from $41.00 to $43.00 and gave the stock a “buy” rating in a research report on Wednesday, January 31st. UBS Group set a $42.00 target price on shares of Pfizer and gave the stock a “buy” rating in a research report on Wednesday, January 31st. Finally, Societe Generale set a $40.00 target price on shares of Pfizer and gave the stock a “neutral” rating in a research report on Wednesday, January 31st. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and eleven have issued a buy rating to the company’s stock. Pfizer currently has a consensus rating of “Hold” and an average target price of $39.40.
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Pfizer Company Profile
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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