Meritage Portfolio Management reduced its stake in shares of Pfizer Inc. (NYSE:PFE) by 3.9% during the second quarter, Holdings Channel reports. The institutional investor owned 152,008 shares of the biopharmaceutical company’s stock after selling 6,205 shares during the period. Meritage Portfolio Management’s holdings in Pfizer were worth $5,352,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of PFE. Catamount Wealth Management increased its position in Pfizer by 14.2% in the first quarter. Catamount Wealth Management now owns 4,395 shares of the biopharmaceutical company’s stock worth $130,000 after buying an additional 545 shares during the period. Stuart Chaussee & Associates Inc. increased its position in Pfizer by 64.3% in the second quarter. Stuart Chaussee & Associates Inc. now owns 5,430 shares of the biopharmaceutical company’s stock worth $193,000 after buying an additional 2,125 shares during the period. Jag Capital Management LLC purchased a new position in Pfizer during the second quarter worth $202,000. Oakmont Partners LLC purchased a new position in Pfizer during the second quarter worth $211,000. Finally, Financial Strategy Network LLC purchased a new position in Pfizer during the first quarter worth $205,000. Institutional investors and hedge funds own 69.66% of the company’s stock.
Pfizer Inc. (NYSE:PFE) traded down 0.31% during mid-day trading on Friday, reaching $32.66. The company had a trading volume of 15,569,339 shares. Pfizer Inc. has a 12-month low of $28.25 and a 12-month high of $37.39. The stock has a 50 day moving average price of $34.02 and a 200-day moving average price of $34.27. The stock has a market capitalization of $198.10 billion, a P/E ratio of 28.95 and a beta of 0.86.
Pfizer (NYSE:PFE) last posted its quarterly earnings data on Tuesday, August 2nd. The biopharmaceutical company reported $0.64 earnings per share for the quarter, topping the Thomson Reuters’ 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 business had revenue of $13.10 billion for the quarter, compared to analysts’ expectations of $13.01 billion. During the same quarter in the previous year, the firm earned $0.56 earnings per share. The business’s revenue was up 10.9% on a year-over-year basis. Equities analysts anticipate that Pfizer Inc. will post $2.46 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Friday, November 11th will be given a $0.30 dividend. The ex-dividend date is Tuesday, November 8th. This represents a $1.20 annualized dividend and a yield of 3.67%. Pfizer’s dividend payout ratio is currently 95.24%.
A number of equities analysts have weighed in on the company. Argus reaffirmed a “buy” rating and set a $39.00 price target on shares of Pfizer in a research report on Sunday, August 28th. Vetr raised Pfizer from a “buy” rating to a “strong-buy” rating and set a $37.94 price target for the company in a research report on Monday, June 27th. Barclays PLC reaffirmed an “equal weight” rating and set a $34.00 price target on shares of Pfizer in a research report on Tuesday, August 2nd. Jefferies Group reduced their price target on Pfizer from $42.00 to $40.00 and set a “buy” rating for the company in a research report on Monday, June 20th. Finally, Zacks Investment Research downgraded Pfizer from a “buy” rating to a “hold” rating in a research report on Wednesday, July 20th. Eleven equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $38.59.
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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