KCM Investment Advisors LLC trimmed its position in shares of Pfizer Inc. (NYSE:PFE) by 2.1% in the 3rd quarter, HoldingsChannel reports. The firm owned 156,366 shares of the biopharmaceutical company’s stock after selling 3,285 shares during the period. KCM Investment Advisors LLC’s holdings in Pfizer were worth $6,891,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Montag A & Associates Inc. grew its stake in Pfizer by 1.7% during the second quarter. Montag A & Associates Inc. now owns 192,933 shares of the biopharmaceutical company’s stock valued at $7,000,000 after acquiring an additional 3,263 shares in the last quarter. Heartland Advisors Inc. lifted its holdings in shares of Pfizer by 3.1% in the 2nd quarter. Heartland Advisors Inc. now owns 306,485 shares of the biopharmaceutical company’s stock worth $11,119,000 after acquiring an additional 9,217 shares during the last quarter. West Branch Capital LLC lifted its holdings in shares of Pfizer by 30.9% in the 2nd quarter. West Branch Capital LLC now owns 51,220 shares of the biopharmaceutical company’s stock worth $1,858,000 after acquiring an additional 12,098 shares during the last quarter. Sigma Planning Corp lifted its holdings in shares of Pfizer by 4.0% in the 2nd quarter. Sigma Planning Corp now owns 142,081 shares of the biopharmaceutical company’s stock worth $5,155,000 after acquiring an additional 5,446 shares during the last quarter. Finally, Advanced Asset Management Advisors Inc lifted its holdings in shares of Pfizer by 45.3% in the 2nd quarter. Advanced Asset Management Advisors Inc now owns 67,002 shares of the biopharmaceutical company’s stock worth $2,431,000 after acquiring an additional 20,903 shares during the last quarter. Hedge funds and other institutional investors own 70.61% of the company’s stock.
NYSE:PFE opened at $41.68 on Tuesday. Pfizer Inc. has a 52 week low of $34.03 and a 52 week high of $46.47. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.43 and a quick ratio of 1.15. The firm has a market cap of $251.39 billion, a P/E ratio of 13.89, a PEG ratio of 2.42 and a beta of 0.77.
Pfizer (NYSE:PFE) last posted its quarterly earnings results on Tuesday, January 29th. The biopharmaceutical company reported $0.64 EPS for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.01. Pfizer had a net margin of 20.79% and a return on equity of 25.38%. The company had revenue of $13.98 billion during the quarter, compared to analyst estimates of $13.92 billion. During the same period in the prior year, the business posted $0.62 EPS. The firm’s revenue was up 2.0% compared to the same quarter last year. Equities research analysts expect that Pfizer Inc. will post 2.86 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 1st. Investors of record on Friday, February 1st will be paid a $0.36 dividend. This is a boost from Pfizer’s previous quarterly dividend of $0.34. The ex-dividend date is Thursday, January 31st. This represents a $1.44 dividend on an annualized basis and a yield of 3.45%. Pfizer’s payout ratio is presently 48.00%.
Pfizer declared that its board has initiated a stock buyback plan on Friday, December 14th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the biopharmaceutical company to reacquire up to 3.8% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.
A number of brokerages have recently weighed in on PFE. Barclays set a $40.00 price objective on shares of Pfizer and gave the stock a “neutral” rating in a report on Friday, October 19th. Credit Suisse Group set a $45.00 price objective on shares of Pfizer and gave the stock a “hold” rating in a report on Thursday, December 13th. JPMorgan Chase & Co. lowered shares of Pfizer from an “overweight” rating to a “neutral” rating and set a $46.00 price objective for the company. in a report on Tuesday, December 11th. Cantor Fitzgerald restated a “buy” rating and issued a $53.00 price objective on shares of Pfizer in a report on Tuesday, December 11th. Finally, Wolfe Research began coverage on shares of Pfizer in a report on Tuesday, October 23rd. They issued a “market perform” rating for the company. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and seven have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $44.68.
In other Pfizer news, EVP Douglas M. Lankler sold 38,800 shares of the company’s stock in a transaction dated Wednesday, January 30th. The shares were sold at an average price of $41.19, for a total transaction of $1,598,172.00. Following the transaction, the executive vice president now owns 83,592 shares in the company, valued at approximately $3,443,154.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Douglas M. Lankler sold 5,000 shares of the company’s stock in a transaction dated Friday, February 1st. The shares were sold at an average price of $42.75, for a total transaction of $213,750.00. Following the transaction, the executive vice president now owns 83,592 shares in the company, valued at approximately $3,573,558. The disclosure for this sale can be found here. Insiders own 0.06% of the company’s stock.
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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