Coldstream Capital Management Inc. increased its holdings in Pfizer Inc. (NYSE:PFE) by 5.9% during the third quarter, HoldingsChannel.com reports. The firm owned 87,386 shares of the biopharmaceutical company’s stock after acquiring an additional 4,844 shares during the quarter. Coldstream Capital Management Inc.’s holdings in Pfizer were worth $3,120,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. Shine Investment Advisory Services Inc. purchased a new position in Pfizer in the 2nd quarter worth $102,000. Mckinley Capital Management LLC Delaware purchased a new position in Pfizer in the 2nd quarter worth $103,000. Herndon Capital Management LLC purchased a new position in Pfizer in the 2nd quarter worth $120,000. Lipe & Dalton raised its position in Pfizer by 6.9% in the 2nd quarter. Lipe & Dalton now owns 4,626 shares of the biopharmaceutical company’s stock worth $155,000 after purchasing an additional 300 shares during the period. Finally, Legacy Advisors LLC purchased a new position in Pfizer in the 3rd quarter worth $164,000. Institutional investors own 70.12% of the company’s stock.
In related news, EVP Rady A. Johnson sold 8,000 shares of the business’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $37.07, for a total transaction of $296,560.00. Following the transaction, the executive vice president now owns 46,963 shares in the company, valued at $1,740,918.41. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Alexander R. Mackenzie sold 6,750 shares of the business’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $37.00, for a total transaction of $249,750.00. Following the transaction, the insider now owns 103,458 shares in the company, valued at approximately $3,827,946. The disclosure for this sale can be found here. Insiders have sold 59,386 shares of company stock worth $2,200,281 in the last quarter. 0.06% of the stock is owned by corporate insiders.
Pfizer (NYSE:PFE) last announced its quarterly earnings results on Tuesday, January 30th. The biopharmaceutical company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.06. Pfizer had a net margin of 11.60% and a return on equity of 9.55%. The company had revenue of $13.70 billion for the quarter, compared to analysts’ expectations of $13.67 billion. During the same quarter in the previous year, the company earned $0.47 earnings per share. Pfizer’s quarterly revenue was up .6% on a year-over-year basis. research analysts forecast that Pfizer Inc. will post 2.95 EPS for the current fiscal year.
Pfizer announced that its board has approved a stock repurchase program on Monday, December 18th that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the biopharmaceutical company to buy shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Friday, February 2nd will be given a dividend of $0.34 per share. The ex-dividend date is Thursday, February 1st. This represents a $1.36 annualized dividend and a dividend yield of 3.75%. This is a boost from Pfizer’s previous quarterly dividend of $0.32. Pfizer’s payout ratio is currently 77.71%.
A number of equities analysts recently commented on the stock. Jefferies Group set a $39.00 target price on shares of Pfizer and gave the stock a “hold” rating in a research report on Monday. BMO Capital Markets set a $43.00 price objective on shares of Pfizer and gave the company a “buy” rating in a research report on Thursday, February 15th. Barclays boosted their price objective on shares of Pfizer from $38.00 to $41.00 and gave the company an “overweight” rating in a research report on Wednesday, January 31st. Credit Suisse Group boosted their price objective on shares of Pfizer from $37.00 to $39.00 and gave the company a “neutral” rating in a research report on Wednesday, January 31st. Finally, Leerink Swann boosted their price objective on shares of Pfizer from $35.00 to $38.00 and gave the company a “market perform” rating in a research report on Wednesday, January 31st. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eleven have given a buy rating to the company. Pfizer has an average rating of “Hold” and an average target price of $39.40.
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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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