Waters Parkerson & CO. LLC lessened its position in shares of Pfizer Inc. (NYSE:PFE – Get Rating) by 0.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 297,844 shares of the biopharmaceutical company’s stock after selling 2,298 shares during the period. Waters Parkerson & CO. LLC’s holdings in Pfizer were worth $13,034,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in PFE. Northern Trust Corp grew its holdings in shares of Pfizer by 0.7% in the 2nd quarter. Northern Trust Corp now owns 66,978,348 shares of the biopharmaceutical company’s stock valued at $3,511,675,000 after acquiring an additional 467,468 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Pfizer by 13.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 59,828,849 shares of the biopharmaceutical company’s stock valued at $3,097,341,000 after acquiring an additional 6,972,650 shares in the last quarter. Legal & General Group Plc grew its holdings in shares of Pfizer by 3.2% in the 2nd quarter. Legal & General Group Plc now owns 42,791,672 shares of the biopharmaceutical company’s stock valued at $2,243,574,000 after acquiring an additional 1,336,403 shares in the last quarter. Amundi grew its holdings in shares of Pfizer by 8.4% in the 2nd quarter. Amundi now owns 27,789,344 shares of the biopharmaceutical company’s stock valued at $1,429,310,000 after acquiring an additional 2,149,041 shares in the last quarter. Finally, UBS Asset Management Americas Inc. grew its holdings in shares of Pfizer by 7.5% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 25,979,571 shares of the biopharmaceutical company’s stock valued at $1,362,109,000 after acquiring an additional 1,820,095 shares in the last quarter. Institutional investors own 67.62% of the company’s stock.
Wall Street Analyst Weigh In
Several equities analysts have recently weighed in on PFE shares. Wells Fargo & Company cut Pfizer from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $54.00 to $50.00 in a report on Tuesday, January 17th. Barclays lifted their price target on Pfizer from $44.00 to $49.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 2nd. The Goldman Sachs Group upgraded Pfizer from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $47.00 to $60.00 in a report on Tuesday, December 13th. Bank of America cut Pfizer from a “buy” rating to a “neutral” rating and set a $60.00 price target for the company. in a report on Wednesday, January 4th. Finally, Credit Suisse Group set a $54.00 price objective on shares of Pfizer in a research report on Wednesday, January 18th. Seven analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $53.00.
Pfizer Price Performance
Pfizer (NYSE:PFE – Get Rating) last released its quarterly earnings results on Tuesday, November 1st. The biopharmaceutical company reported $1.78 earnings per share for the quarter, beating analysts’ consensus estimates of $1.47 by $0.31. Pfizer had a net margin of 29.81% and a return on equity of 43.95%. The company had revenue of $22.64 billion during the quarter, compared to the consensus estimate of $21.04 billion. On average, analysts forecast that Pfizer Inc. will post 6.47 EPS for the current fiscal year.
Pfizer Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 3rd. Shareholders of record on Friday, January 27th will be given a dividend of $0.41 per share. This is an increase from Pfizer’s previous quarterly dividend of $0.40. This represents a $1.64 annualized dividend and a yield of 3.67%. The ex-dividend date of this dividend is Thursday, January 26th. Pfizer’s payout ratio is currently 30.77%.
Pfizer Company Profile
Pfizer Inc is a research-based global biopharmaceutical company. It engages in the discovery, development, manufacture, marketing, sales and distribution of biopharmaceutical products worldwide. The firm works across developed and emerging markets to advance wellness, prevention, treatments and cures that challenge the most feared diseases.
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