Crossmark Global Holdings Inc. acquired a new position in Pfizer Inc. (NYSE:PFE) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 374,968 shares of the biopharmaceutical company’s stock, valued at approximately $13,386,000.
Other institutional investors have also bought and sold shares of the company. HL Financial Services LLC lifted its position in Pfizer by 1.1% during the 2nd quarter. HL Financial Services LLC now owns 3,222,985 shares of the biopharmaceutical company’s stock worth $108,260,000 after acquiring an additional 35,744 shares during the period. Sphera Funds Management LTD. acquired a new stake in Pfizer during the 1st quarter worth about $13,342,000. Hartford Financial Management Inc. lifted its position in Pfizer by 10.8% during the 2nd quarter. Hartford Financial Management Inc. now owns 8,538 shares of the biopharmaceutical company’s stock worth $286,000 after acquiring an additional 835 shares during the period. Cadence Bank NA lifted its position in Pfizer by 1.4% during the 2nd quarter. Cadence Bank NA now owns 99,962 shares of the biopharmaceutical company’s stock worth $3,358,000 after acquiring an additional 1,428 shares during the period. Finally, Majedie Asset Management Ltd lifted its position in Pfizer by 7.9% during the 2nd quarter. Majedie Asset Management Ltd now owns 336,991 shares of the biopharmaceutical company’s stock worth $11,320,000 after acquiring an additional 24,531 shares during the period. 69.75% of the stock is owned by hedge funds and other institutional investors.
Pfizer Inc. (NYSE PFE) opened at $36.79 on Friday. The stock has a market capitalization of $219,290.00, a PE ratio of 22.57, a PEG ratio of 2.43 and a beta of 1.01. The company has a quick ratio of 1.15, a current ratio of 1.43 and a debt-to-equity ratio of 0.56. Pfizer Inc. has a fifty-two week low of $30.90 and a fifty-two week high of $37.35.
Pfizer declared that its Board of Directors has authorized a stock buyback plan on Monday, December 18th that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the biopharmaceutical company to reacquire shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Friday, February 2nd will be issued a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 3.70%. The ex-dividend date of this dividend is Thursday, February 1st. This is a boost from Pfizer’s previous quarterly dividend of $0.32. Pfizer’s payout ratio is 78.53%.
In related news, insider Alexander R. Mackenzie sold 6,750 shares of Pfizer stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $37.00, for a total value of $249,750.00. Following the completion of the transaction, the insider now owns 103,458 shares in the company, valued at approximately $3,827,946. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Rady A. Johnson sold 8,000 shares of Pfizer stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $37.07, for a total value of $296,560.00. Following the completion of the transaction, the executive vice president now owns 46,963 shares of the company’s stock, valued at approximately $1,740,918.41. The disclosure for this sale can be found here. In the last three months, insiders sold 29,450 shares of company stock valued at $1,065,220. Insiders own 0.06% of the company’s stock.
A number of analysts have commented on the company. Nord/LB reaffirmed a “neutral” rating on shares of Pfizer in a research report on Tuesday. BMO Capital Markets set a $39.00 price target on Pfizer and gave the stock a “buy” rating in a research report on Friday, December 15th. UBS Group set a $40.00 price target on Pfizer and gave the stock a “buy” rating in a research report on Wednesday, December 6th. Deutsche Bank set a $38.00 price target on Pfizer and gave the stock a “buy” rating in a research report on Wednesday, December 6th. Finally, Vetr raised Pfizer from a “hold” rating to a “buy” rating and set a $38.82 price target for the company in a research report on Thursday, November 23rd. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $38.77.
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Pfizer Inc (Pfizer) is a research-based global biopharmaceutical company. The Company is engaged in the discovery, development and manufacture of healthcare products. Its global portfolio includes medicines and vaccines, as well as consumer healthcare products. The Company manages its commercial operations through two business segments: Pfizer Innovative Health (IH) and Pfizer Essential Health (EH).
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