Cadence Capital Management LLC lowered its stake in shares of Pfizer Inc. (NYSE:PFE) by 15.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 324,604 shares of the biopharmaceutical company’s stock after selling 59,911 shares during the period. Pfizer accounts for approximately 0.9% of Cadence Capital Management LLC’s portfolio, making the stock its 29th largest position. Cadence Capital Management LLC’s holdings in Pfizer were worth $11,429,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. Mogy Joel R Investment Counsel Inc. increased its stake in shares of Pfizer by 1.9% in the second quarter. Mogy Joel R Investment Counsel Inc. now owns 141,804 shares of the biopharmaceutical company’s stock valued at $4,993,000 after buying an additional 2,675 shares in the last quarter. Taylor Frigon Capital Management LLC increased its stake in shares of Pfizer by 1.8% in the second quarter. Taylor Frigon Capital Management LLC now owns 25,273 shares of the biopharmaceutical company’s stock valued at $890,000 after buying an additional 437 shares in the last quarter. Reilly Financial Advisors LLC increased its stake in shares of Pfizer by 949.1% in the second quarter. Reilly Financial Advisors LLC now owns 301,159 shares of the biopharmaceutical company’s stock valued at $10,604,000 after buying an additional 272,452 shares in the last quarter. Jennison Associates LLC increased its stake in shares of Pfizer by 0.8% in the second quarter. Jennison Associates LLC now owns 8,966,696 shares of the biopharmaceutical company’s stock valued at $315,717,000 after buying an additional 67,141 shares in the last quarter. Finally, Gateway Advisory LLC acquired a new stake in shares of Pfizer during the second quarter valued at about $246,000. 69.65% of the stock is owned by institutional investors and hedge funds.
Shares of Pfizer Inc. (NYSE:PFE) traded down 0.88% during trading on Thursday, reaching $33.60. The company’s stock had a trading volume of 7,535,893 shares. Pfizer Inc. has a 52-week low of $28.25 and a 52-week high of $37.39. The stock has a market cap of $203.81 billion, a price-to-earnings ratio of 29.79 and a beta of 0.86. The stock’s 50 day moving average price is $34.38 and its 200-day moving average price is $34.17.
Pfizer (NYSE:PFE) last released its quarterly earnings results on Tuesday, August 2nd. The biopharmaceutical company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.02. Pfizer had a return on equity of 23.37% and a net margin of 14.88%. The firm had revenue of $13.10 billion for the quarter, compared to analysts’ expectations of $13.01 billion. During the same quarter last year, the firm posted $0.56 EPS. The company’s revenue was up 10.9% compared to the same quarter last year. Equities analysts anticipate that Pfizer Inc. will post $2.46 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Friday, November 11th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Tuesday, November 8th. This represents a $1.20 annualized dividend and a dividend yield of 3.54%. Pfizer’s payout ratio is currently 95.24%.
Several brokerages have issued reports on PFE. Argus reaffirmed a “buy” rating and set a $39.00 price target on shares of Pfizer in a report on Tuesday. Bank of America Corp. reissued a “buy” rating and set a $40.00 target price on shares of Pfizer in a report on Tuesday, September 27th. Sanford C. Bernstein reissued an “outperform” rating on shares of Pfizer in a report on Monday, September 26th. Jefferies Group dropped their target price on Pfizer from $40.00 to $39.00 and set a “buy” rating for the company in a report on Tuesday, September 13th. Finally, Piper Jaffray Cos. set a $54.00 target price on Pfizer and gave the stock a “buy” rating in a report on Tuesday, August 23rd. Ten investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $38.78.
Pfizer Company Profile
Pfizer Inc is a research-based global biopharmaceutical company. The Company is engaged in discovering, developing and manufacturing of healthcare products. Its portfolio includes medicines, vaccines and medical devices, as well as consumer healthcare products. Its products include Prevnar/Prevenar 13, Lyrica, Enbrel, Lipitor, Viagra, Sutent, BeneFIX, Genotropin, ReFacto, Xyntha and Enbrel.
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