RNC Capital Management LLC Has $2.75 Million Position in Pfizer Inc. (PFE)

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RNC Capital Management LLC lowered its position in Pfizer Inc. (NYSE:PFE) by 92.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 75,792 shares of the biopharmaceutical company’s stock after selling 969,395 shares during the quarter. RNC Capital Management LLC’s holdings in Pfizer were worth $2,750,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in PFE. Ballew Advisors Inc purchased a new position in Pfizer during the first quarter worth about $102,000. Earnest Partners LLC purchased a new position in Pfizer during the fourth quarter worth about $105,000. Woodard & Co. Asset Management Group Inc. ADV purchased a new position in Pfizer during the fourth quarter worth about $118,000. Delpha Capital Management LLC purchased a new position in Pfizer during the fourth quarter worth about $126,000. Finally, W.G. Shaheen & Associates DBA Whitney & Co purchased a new position in Pfizer during the first quarter worth about $132,000. 69.14% of the stock is owned by hedge funds and other institutional investors.

Several research analysts have weighed in on PFE shares. JPMorgan Chase & Co. reaffirmed a “$37.66” rating on shares of Pfizer in a research note on Wednesday, July 18th. Cantor Fitzgerald set a $45.00 target price on shares of Pfizer and gave the stock a “buy” rating in a research note on Wednesday, July 11th. Morgan Stanley reaffirmed a “buy” rating and set a $43.00 target price on shares of Pfizer in a research note on Monday, June 11th. Zacks Investment Research raised shares of Pfizer from a “hold” rating to a “buy” rating and set a $41.00 target price for the company in a research note on Tuesday, July 3rd. Finally, BMO Capital Markets reaffirmed a “buy” rating and set a $42.00 target price on shares of Pfizer in a research note on Thursday, July 19th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $41.89.

In related news, insider Frank A. Damelio sold 150,484 shares of the firm’s stock in a transaction that occurred on Wednesday, August 1st. The shares were sold at an average price of $40.00, for a total value of $6,019,360.00. Following the sale, the insider now owns 337,391 shares of the company’s stock, valued at $13,495,640. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Alexander R. Mackenzie sold 25,642 shares of the firm’s stock in a transaction that occurred on Friday, August 3rd. The shares were sold at an average price of $39.51, for a total transaction of $1,013,115.42. Following the completion of the sale, the insider now directly owns 127,954 shares in the company, valued at approximately $5,055,462.54. The disclosure for this sale can be found here. Insiders have sold 761,230 shares of company stock worth $29,054,690 in the last three months. Corporate insiders own 0.06% of the company’s stock.

Shares of PFE opened at $42.96 on Friday. The stock has a market cap of $252.46 billion, a PE ratio of 14.78, a price-to-earnings-growth ratio of 2.04 and a beta of 0.96. Pfizer Inc. has a 1 year low of $33.20 and a 1 year high of $43.00. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.91 and a current ratio of 1.16.

Pfizer (NYSE:PFE) last issued its quarterly earnings results on Tuesday, July 31st. The biopharmaceutical company reported $0.81 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.74 by $0.07. The business had revenue of $13.47 billion for the quarter, compared to analysts’ expectations of $13.30 billion. Pfizer had a net margin of 42.35% and a return on equity of 25.35%. The business’s quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.67 earnings per share. analysts predict that Pfizer Inc. will post 2.99 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 4th. Stockholders of record on Friday, August 3rd were given a dividend of $0.34 per share. The ex-dividend date of this dividend was Thursday, August 2nd. This represents a $1.36 annualized dividend and a dividend yield of 3.17%. Pfizer’s dividend payout ratio is presently 51.32%.

About Pfizer

Pfizer Inc discovers, develops, manufactures, and sells healthcare products worldwide. It operates in two segments, Pfizer Innovative Health (IH) and Pfizer Essential Health (EH). The IH segment focuses on the development and commercialization of medicines and vaccines, and consumer healthcare products in various therapeutic areas, including internal medicine, vaccines, oncology, inflammation and immunology, and rare diseases, as well as consumer healthcare, such as over-the-counter brands comprising dietary supplements, pain management, gastrointestinal, and respiratory and personal care.

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Institutional Ownership by Quarter for Pfizer (NYSE:PFE)

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