Trust Co raised its holdings in shares of Pfizer Inc. (NYSE:PFE) by 12.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 177,630 shares of the biopharmaceutical company’s stock after purchasing an additional 19,273 shares during the period. Pfizer accounts for approximately 2.6% of Trust Co’s investment portfolio, making the stock its 13th biggest holding. Trust Co’s holdings in Pfizer were worth $6,341,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of PFE. First American Trust FSB increased its position in shares of Pfizer by 81.7% in the 4th quarter. First American Trust FSB now owns 146,444 shares of the biopharmaceutical company’s stock valued at $5,304,000 after acquiring an additional 65,867 shares during the period. Windward Capital Management Co. CA increased its position in shares of Pfizer by 1.9% in the 4th quarter. Windward Capital Management Co. CA now owns 547,689 shares of the biopharmaceutical company’s stock valued at $19,837,000 after acquiring an additional 10,163 shares during the period. Patriot Wealth Management Inc. increased its position in shares of Pfizer by 1.5% in the 4th quarter. Patriot Wealth Management Inc. now owns 227,909 shares of the biopharmaceutical company’s stock valued at $8,255,000 after acquiring an additional 3,264 shares during the period. Grassi Investment Management increased its position in shares of Pfizer by 1.0% in the 4th quarter. Grassi Investment Management now owns 181,571 shares of the biopharmaceutical company’s stock valued at $6,577,000 after acquiring an additional 1,829 shares during the period. Finally, Conservest Capital Advisors Inc. acquired a new position in shares of Pfizer in the 4th quarter valued at $205,000. 70.43% of the stock is currently owned by institutional investors and hedge funds.
Shares of Pfizer Inc. (NYSE PFE) opened at $36.77 on Friday. The firm has a market capitalization of $219,180.00, a PE ratio of 21.01, a price-to-earnings-growth ratio of 2.02 and a beta of 0.91. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.10 and a current ratio of 1.35. Pfizer Inc. has a 12-month low of $31.67 and a 12-month high of $39.43.
Pfizer announced that its board has initiated a stock repurchase program on Monday, December 18th that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the biopharmaceutical company to purchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.
The company also recently announced a quarterly dividend, which was paid on Thursday, March 1st. Stockholders of record on Friday, February 2nd were paid a dividend of $0.34 per share. This is a positive change from Pfizer’s previous quarterly dividend of $0.32. This represents a $1.36 annualized dividend and a dividend yield of 3.70%. The ex-dividend date was Thursday, February 1st. Pfizer’s dividend payout ratio is presently 77.71%.
In other news, insider Charles H. Hill sold 42,393 shares of the stock in a transaction dated Tuesday, March 6th. The shares were sold at an average price of $35.76, for a total transaction of $1,515,973.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Alexander R. Mackenzie sold 6,750 shares of the stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $37.00, for a total transaction of $249,750.00. Following the sale, the insider now directly owns 103,458 shares in the company, valued at $3,827,946. The disclosure for this sale can be found here. Over the last three months, insiders have sold 115,765 shares of company stock worth $4,217,653. Corporate insiders own 0.06% of the company’s stock.
PFE has been the topic of several research reports. SunTrust Banks reissued a “hold” rating and issued a $40.00 target price (up from $33.00) on shares of Pfizer in a research report on Monday, January 29th. BMO Capital Markets reissued a “buy” rating and issued a $39.00 target price on shares of Pfizer in a research report on Friday, November 10th. Jefferies Group set a $39.00 target price on Pfizer and gave the company a “hold” rating in a research report on Monday, February 26th. Vetr raised Pfizer from a “hold” rating to a “buy” rating and set a $37.98 target price on the stock in a research report on Monday, January 8th. Finally, Bank of America set a $40.00 target price on Pfizer and gave the company a “buy” rating in a research report on Tuesday, January 30th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and eleven have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $39.40.
ILLEGAL ACTIVITY WARNING: “Trust Co Has $6.34 Million Holdings in Pfizer Inc. (PFE)” was originally posted by Ticker Report and is owned by of Ticker Report. If you are viewing this report on another publication, it was stolen and republished in violation of U.S. and international trademark & copyright laws. The correct version of this report can be read at https://www.tickerreport.com/banking-finance/3252818/trust-co-has-6-34-million-holdings-in-pfizer-inc-pfe.html.
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).
Want to see what other hedge funds are holding PFE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pfizer Inc. (NYSE:PFE).
Receive News & Ratings for Pfizer Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pfizer and related companies with MarketBeat.com's FREE daily email newsletter.