Ladenburg Thalmann Financial Services Inc. Increases Holdings in Pfizer Inc. (PFE)
Ladenburg Thalmann Financial Services Inc. raised its holdings in shares of Pfizer Inc. (NYSE:PFE) by 5.7% in the 1st quarter, Holdings Channel reports. The firm owned 700,551 shares of the biopharmaceutical company’s stock after buying an additional 37,662 shares during the period. Ladenburg Thalmann Financial Services Inc.’s holdings in Pfizer were worth $24,848,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors have also made changes to their positions in the business. Arete Wealth Advisors LLC increased its position in Pfizer by 36.4% during the 1st quarter. Arete Wealth Advisors LLC now owns 57,103 shares of the biopharmaceutical company’s stock worth $2,026,000 after buying an additional 15,246 shares during the period. Ancora Advisors LLC increased its position in Pfizer by 2.9% during the 1st quarter. Ancora Advisors LLC now owns 289,460 shares of the biopharmaceutical company’s stock worth $10,273,000 after buying an additional 8,141 shares during the period. Element Capital Management LLC bought a new position in Pfizer during the 1st quarter worth $36,390,000. United Capital Financial Advisers LLC increased its position in Pfizer by 3.8% during the 1st quarter. United Capital Financial Advisers LLC now owns 1,010,664 shares of the biopharmaceutical company’s stock worth $35,868,000 after buying an additional 37,016 shares during the period. Finally, Ostrum Asset Management bought a new position in Pfizer during the 1st quarter worth $1,920,000. 69.28% of the stock is owned by institutional investors and hedge funds.
In related news, insider Laurie J. Olson sold 10,214 shares of the firm’s stock in a transaction on Monday, August 13th. The stock was sold at an average price of $41.00, for a total value of $418,774.00. Following the transaction, the insider now owns 72,672 shares in the company, valued at $2,979,552. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director W Don Cornwell sold 5,223 shares of Pfizer stock in a transaction dated Monday, June 4th. The shares were sold at an average price of $36.40, for a total value of $190,117.20. The disclosure for this sale can be found here. Insiders sold 785,453 shares of company stock worth $29,937,357 in the last 90 days. 0.06% of the stock is owned by company insiders.
Pfizer (NYSE:PFE) last issued its quarterly earnings results on Tuesday, July 31st. The biopharmaceutical company reported $0.81 EPS for the quarter, topping the Zacks’ consensus estimate of $0.74 by $0.07. Pfizer had a return on equity of 25.35% and a net margin of 42.35%. The company had revenue of $13.47 billion for the quarter, compared to analysts’ expectations of $13.30 billion. During the same quarter last year, the business earned $0.67 earnings per share. Pfizer’s revenue was up 4.4% on a year-over-year basis. equities analysts anticipate that Pfizer Inc. will post 2.99 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 4th. Investors of record on Friday, August 3rd will be given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date of this dividend is Thursday, August 2nd. Pfizer’s payout ratio is currently 51.32%.
Several research analysts have weighed in on the company. Cantor Fitzgerald set a $45.00 price objective on Pfizer and gave the stock a “buy” rating in a research report on Monday, August 13th. SunTrust Banks increased their price objective on Pfizer to $41.00 and gave the stock a “hold” rating in a research report on Friday, August 10th. Morningstar set a $45.00 price objective on Pfizer and gave the stock a “buy” rating in a research report on Wednesday, August 8th. Zacks Investment Research cut Pfizer from a “buy” rating to a “hold” rating in a research report on Monday, August 6th. Finally, Bank of America increased their price objective on Pfizer from $42.00 to $43.00 and gave the stock a “buy” rating in a research report on Wednesday, August 1st. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and nine have issued a buy rating to the company’s stock. Pfizer has an average rating of “Hold” and an average price target of $40.95.
Pfizer Inc discovers, develops, manufactures, and sells healthcare products worldwide. It operates in two segments, Pfizer Innovative Health (IH) and Pfizer Essential Health (EH). The IH segment focuses on the development and commercialization of medicines and vaccines, and consumer healthcare products in various therapeutic areas, including internal medicine, vaccines, oncology, inflammation and immunology, and rare diseases, as well as consumer healthcare, such as over-the-counter brands comprising dietary supplements, pain management, gastrointestinal, and respiratory and personal care.
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