Investec Asset Management North America Inc. Buys 11,550 Shares of Pfizer Inc. (PFE)
Investec Asset Management North America Inc. grew its stake in Pfizer Inc. (NYSE:PFE) by 22.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 61,971 shares of the biopharmaceutical company’s stock after buying an additional 11,550 shares during the period. Investec Asset Management North America Inc.’s holdings in Pfizer were worth $2,248,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently modified their holdings of the company. W.G. Shaheen & Associates DBA Whitney & Co acquired a new stake in Pfizer during the first quarter worth approximately $132,000. Braun Bostich & Associates Inc. acquired a new stake in Pfizer during the first quarter worth approximately $139,000. Clearwater Capital Advisors LLC acquired a new stake in Pfizer during the first quarter worth approximately $156,000. Goodwin Daniel L acquired a new stake in Pfizer during the second quarter worth approximately $171,000. Finally, Bristol John W & Co. Inc. NY acquired a new stake in Pfizer during the first quarter worth approximately $186,000. 68.64% of the stock is owned by institutional investors.
In related news, major shareholder Pfizer Inc bought 55,556 shares of the company’s stock in a transaction dated Monday, October 15th. The shares were bought at an average price of $18.00 per share, for a total transaction of $1,000,008.00. Following the completion of the acquisition, the insider now directly owns 21,976,484 shares of the company’s stock, valued at $395,576,712. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.06% of the stock is owned by company insiders.
Pfizer (NYSE:PFE) last announced its quarterly earnings results on Tuesday, October 30th. The biopharmaceutical company reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.03. The business had revenue of $13.30 billion for the quarter, compared to analyst estimates of $13.53 billion. Pfizer had a return on equity of 25.26% and a net margin of 44.63%. The company’s quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.67 earnings per share. Equities research analysts anticipate that Pfizer Inc. will post 3 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, December 3rd. Stockholders of record on Friday, November 9th will be issued a $0.34 dividend. The ex-dividend date is Thursday, November 8th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.08%. Pfizer’s dividend payout ratio is presently 51.32%.
Several research firms recently commented on PFE. Cantor Fitzgerald set a $53.00 target price on Pfizer and gave the stock a “buy” rating in a research note on Monday. Citigroup raised their target price on Pfizer from $34.00 to $37.00 and gave the stock a “sell” rating in a research note on Tuesday, November 6th. BMO Capital Markets cut Pfizer from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $47.00 to $46.00 in a research note on Thursday, November 1st. They noted that the move was a valuation call. Societe Generale set a $43.00 target price on Pfizer and gave the stock a “hold” rating in a research note on Thursday, November 1st. Finally, Credit Suisse Group reiterated a “neutral” rating and issued a $40.00 price target on shares of Pfizer in a report on Tuesday, October 30th. Two analysts have rated the stock with a sell rating, fifteen have given a hold rating and eight have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $42.67.
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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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