Pfizer Inc. (PFE) Holdings Reduced by RNC Capital Management LLC
RNC Capital Management LLC reduced its stake in Pfizer Inc. (NYSE:PFE) by 92.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 75,792 shares of the biopharmaceutical company’s stock after selling 969,395 shares during the period. RNC Capital Management LLC’s holdings in Pfizer were worth $2,750,000 as of its most recent SEC filing.
A number of other institutional investors also recently made changes to their positions in the business. HC Financial Advisors Inc. acquired a new position in shares of Pfizer in the fourth quarter valued at approximately $2,685,000. Martingale Asset Management L P grew its position in Pfizer by 8.9% during the fourth quarter. Martingale Asset Management L P now owns 1,240,167 shares of the biopharmaceutical company’s stock worth $44,920,000 after buying an additional 101,560 shares in the last quarter. Folger Nolan Fleming Douglas Capital Management Inc. grew its position in Pfizer by 5.2% during the fourth quarter. Folger Nolan Fleming Douglas Capital Management Inc. now owns 38,640 shares of the biopharmaceutical company’s stock worth $1,400,000 after buying an additional 1,897 shares in the last quarter. Carillon Tower Advisers Inc. acquired a new stake in Pfizer during the fourth quarter worth approximately $21,606,000. Finally, RiverGlades Family Offices LLC acquired a new stake in Pfizer during the fourth quarter worth approximately $247,000. Institutional investors own 69.14% of the company’s stock.
NYSE PFE opened at $42.96 on Friday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.16 and a quick ratio of 0.91. Pfizer Inc. has a fifty-two week low of $33.20 and a fifty-two week high of $43.00. The firm has a market cap of $252.46 billion, a price-to-earnings ratio of 14.78, a price-to-earnings-growth ratio of 2.04 and a beta of 0.96.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 4th. Shareholders of record on Friday, August 3rd were paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 3.17%. The ex-dividend date was Thursday, August 2nd. Pfizer’s payout ratio is presently 51.32%.
In other Pfizer news, insider Laurie J. Olson sold 10,214 shares of the company’s stock in a transaction on Monday, August 13th. The stock was sold at an average price of $41.00, for a total transaction of $418,774.00. Following the completion of the sale, the insider now directly owns 72,672 shares in the company, valued at $2,979,552. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ian C. Read sold 486,753 shares of the company’s stock in a transaction on Monday, July 16th. The stock was sold at an average price of $37.36, for a total value of $18,185,092.08. Following the sale, the chief executive officer now owns 1,145,693 shares of the company’s stock, valued at $42,803,090.48. The disclosure for this sale can be found here. Insiders have sold 761,230 shares of company stock valued at $29,054,690 over the last 90 days. Corporate insiders own 0.06% of the company’s stock.
A number of equities research analysts recently issued reports on PFE shares. Credit Suisse Group set a $39.00 price target on Pfizer and gave the stock a “hold” rating in a research report on Tuesday, July 31st. Goldman Sachs Group reissued a “neutral” rating and set a $42.00 price target on shares of Pfizer in a research report on Wednesday, August 1st. Barclays increased their price target on Pfizer from $38.00 to $40.00 and gave the stock a “neutral” rating in a research report on Thursday, August 23rd. Societe Generale reissued a “neutral” rating and set a $39.00 price target on shares of Pfizer in a research report on Wednesday, May 30th. Finally, JPMorgan Chase & Co. reissued a “buy” rating on shares of Pfizer in a research report on Tuesday, July 31st. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and nine have issued a buy rating to the stock. Pfizer has a consensus rating of “Hold” and an average price target of $41.89.
Pfizer Company Profile
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.
Recommended Story: Trading Strategy Examples and Plans
Want to see what other hedge funds are holding PFE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pfizer Inc. (NYSE:PFE).
Receive News & Ratings for Pfizer Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pfizer and related companies with MarketBeat.com's FREE daily email newsletter.