FTB Advisors Inc. Acquires 2,520 Shares of Pfizer Inc. (PFE)

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FTB Advisors Inc. raised its holdings in shares of Pfizer Inc. (NYSE:PFE) by 1.3% in the 3rd quarter, Holdings Channel reports. The fund owned 193,614 shares of the biopharmaceutical company’s stock after purchasing an additional 2,520 shares during the quarter. FTB Advisors Inc.’s holdings in Pfizer were worth $8,532,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Rational Advisors LLC increased its position in shares of Pfizer by 64.2% in the 3rd quarter. Rational Advisors LLC now owns 11,175 shares of the biopharmaceutical company’s stock valued at $492,000 after buying an additional 4,369 shares in the last quarter. AXA increased its position in shares of Pfizer by 6.7% in the 3rd quarter. AXA now owns 2,366,041 shares of the biopharmaceutical company’s stock valued at $104,272,000 after buying an additional 149,267 shares in the last quarter. Alliancebernstein L.P. increased its position in shares of Pfizer by 5.2% in the 3rd quarter. Alliancebernstein L.P. now owns 22,856,459 shares of the biopharmaceutical company’s stock valued at $1,007,284,000 after buying an additional 1,133,623 shares in the last quarter. South Texas Money Management Ltd. increased its position in shares of Pfizer by 2.4% in the 3rd quarter. South Texas Money Management Ltd. now owns 56,785 shares of the biopharmaceutical company’s stock valued at $2,503,000 after buying an additional 1,337 shares in the last quarter. Finally, Timber Hill LLC bought a new stake in shares of Pfizer in the 3rd quarter valued at $2,805,000. Institutional investors own 68.79% of the company’s stock.

In other news, EVP Douglas M. Lankler sold 5,000 shares of the stock in a transaction dated Friday, February 1st. The shares were sold at an average price of $42.75, for a total transaction of $213,750.00. Following the completion of the transaction, the executive vice president now directly owns 83,592 shares in the company, valued at approximately $3,573,558. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Douglas M. Lankler sold 38,800 shares of the stock in a transaction dated Wednesday, January 30th. The stock was sold at an average price of $41.19, for a total transaction of $1,598,172.00. Following the transaction, the executive vice president now owns 83,592 shares of the company’s stock, valued at $3,443,154.48. The disclosure for this sale can be found here. Corporate insiders own 0.06% of the company’s stock.

A number of brokerages recently weighed in on PFE. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Pfizer in a research note on Tuesday, October 30th. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $53.00 target price on shares of Pfizer in a research note on Monday, November 19th. Atlantic Securities reaffirmed a “buy” rating and issued a $54.00 target price on shares of Pfizer in a research note on Tuesday, November 27th. Argus raised shares of Pfizer from a “hold” rating to a “buy” rating and set a $55.00 target price for the company in a research note on Thursday, January 31st. Finally, Credit Suisse Group set a $42.00 target price on shares of Pfizer and gave the stock a “hold” rating in a research note on Monday, November 26th. Three investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and seven have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $44.68.

Pfizer stock opened at $42.60 on Wednesday. Pfizer Inc. has a one year low of $34.32 and a one year high of $46.47. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.43 and a quick ratio of 1.15. The stock has a market cap of $252.40 billion, a PE ratio of 14.13, a price-to-earnings-growth ratio of 2.43 and a beta of 0.77.

Pfizer (NYSE:PFE) last posted its quarterly earnings data on Tuesday, January 29th. The biopharmaceutical company reported $0.64 EPS for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.01. Pfizer had a net margin of 20.79% and a return on equity of 25.38%. The company had revenue of $13.98 billion during the quarter, compared to the consensus estimate of $13.92 billion. During the same period in the prior year, the business posted $0.62 EPS. The company’s quarterly revenue was up 2.0% on a year-over-year basis. On average, sell-side analysts expect that Pfizer Inc. will post 2.86 earnings per share for the current fiscal year.

Pfizer announced that its Board of Directors has initiated a stock buyback plan on Friday, December 14th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the biopharmaceutical company to purchase up to 3.8% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 1st. Stockholders of record on Friday, February 1st will be paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.38%. This is an increase from Pfizer’s previous quarterly dividend of $0.34. The ex-dividend date is Thursday, January 31st. Pfizer’s dividend payout ratio is currently 48.00%.

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Pfizer Company Profile

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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