Nisa Investment Advisors LLC cut its holdings in shares of Pfizer Inc. (NYSE:PFE) by 1.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 2,403,314 shares of the biopharmaceutical company’s stock after selling 37,354 shares during the quarter. Pfizer accounts for about 0.9% of Nisa Investment Advisors LLC’s portfolio, making the stock its 19th biggest holding. Nisa Investment Advisors LLC’s holdings in Pfizer were worth $87,046,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of the company. Beach Investment Management LLC. bought a new stake in shares of Pfizer during the second quarter valued at approximately $5,214,000. Granite Investment Advisors LLC increased its position in shares of Pfizer by 3.3% during the second quarter. Granite Investment Advisors LLC now owns 8,635 shares of the biopharmaceutical company’s stock valued at $286,000 after purchasing an additional 277 shares during the period. Patton Albertson Miller Group LLC increased its position in shares of Pfizer by 2.6% during the second quarter. Patton Albertson Miller Group LLC now owns 6,705 shares of the biopharmaceutical company’s stock valued at $222,000 after purchasing an additional 168 shares during the period. Teacher Retirement System of Texas increased its position in shares of Pfizer by 6.5% during the second quarter. Teacher Retirement System of Texas now owns 3,994,833 shares of the biopharmaceutical company’s stock valued at $134,186,000 after purchasing an additional 244,575 shares during the period. Finally, Keystone Financial Planning Inc. increased its position in shares of Pfizer by 3.2% during the second quarter. Keystone Financial Planning Inc. now owns 187,549 shares of the biopharmaceutical company’s stock valued at $6,300,000 after purchasing an additional 5,741 shares during the period. Institutional investors own 70.43% of the company’s stock.
Shares of Pfizer Inc. (PFE) opened at $36.77 on Monday. Pfizer Inc. has a 1 year low of $31.67 and a 1 year high of $39.43. The firm has a market capitalization of $218,890.00, a price-to-earnings ratio of 21.01, a price-to-earnings-growth ratio of 2.07 and a beta of 0.91. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.35 and a quick ratio of 1.10.
The business also recently declared a quarterly dividend, which was paid on Thursday, March 1st. Shareholders of record on Friday, February 2nd were given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 3.70%. This is a boost from Pfizer’s previous quarterly dividend of $0.32. The ex-dividend date was Thursday, February 1st. Pfizer’s dividend payout ratio is 77.71%.
Pfizer declared that its board has approved a share repurchase program on Monday, December 18th that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the biopharmaceutical company to buy shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its shares are undervalued.
A number of analysts have recently issued reports on the company. BMO Capital Markets set a $43.00 price objective on Pfizer and gave the company a “buy” rating in a research report on Tuesday, March 6th. Jefferies Group set a $39.00 price objective on Pfizer and gave the company a “hold” rating in a research report on Monday, February 26th. Berenberg Bank set a $36.00 price objective on Pfizer and gave the company a “neutral” rating in a research report on Tuesday, January 30th. UBS Group set a $42.00 price objective on Pfizer and gave the company a “buy” rating in a research report on Wednesday, January 31st. Finally, Leerink Swann boosted their price objective on Pfizer from $35.00 to $38.00 and gave the company a “market perform” rating in a research report on Wednesday, January 31st. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and eleven have assigned a buy rating to the company. Pfizer presently has an average rating of “Hold” and an average target price of $39.40.
In other Pfizer news, insider Alexander R. Mackenzie sold 6,750 shares of the business’s stock in a transaction on Friday, December 15th. The stock was sold at an average price of $37.00, for a total value of $249,750.00. Following the transaction, the insider now owns 103,458 shares of the company’s stock, valued at $3,827,946. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Kirsten Lund-Jurgensen sold 9,510 shares of the business’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $37.19, for a total value of $353,676.90. Following the completion of the transaction, the insider now directly owns 36,959 shares in the company, valued at approximately $1,374,505.21. The disclosure for this sale can be found here. Insiders sold 115,765 shares of company stock worth $4,217,653 over the last quarter. Company insiders own 0.06% of the company’s stock.
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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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