Brave Asset Management Inc. Cuts Holdings in Pfizer Inc. (PFE)

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Brave Asset Management Inc. lessened its stake in Pfizer Inc. (NYSE:PFE) by 1.1% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 55,830 shares of the biopharmaceutical company’s stock after selling 635 shares during the quarter. Pfizer makes up approximately 1.6% of Brave Asset Management Inc.’s portfolio, making the stock its 19th biggest position. Brave Asset Management Inc.’s holdings in Pfizer were worth $2,437,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Balasa Dinverno & Foltz LLC grew its stake in Pfizer by 15.4% in the 4th quarter. Balasa Dinverno & Foltz LLC now owns 77,318 shares of the biopharmaceutical company’s stock worth $3,375,000 after buying an additional 10,301 shares in the last quarter. United Income Inc. purchased a new position in Pfizer in the 4th quarter worth approximately $207,000. Cottage Street Advisors LLC grew its stake in Pfizer by 4.0% in the 4th quarter. Cottage Street Advisors LLC now owns 6,677 shares of the biopharmaceutical company’s stock worth $291,000 after buying an additional 255 shares in the last quarter. Financial Architects Inc grew its stake in Pfizer by 1.4% in the 4th quarter. Financial Architects Inc now owns 66,166 shares of the biopharmaceutical company’s stock worth $2,889,000 after buying an additional 895 shares in the last quarter. Finally, Good Life Advisors LLC grew its stake in Pfizer by 44.8% in the 4th quarter. Good Life Advisors LLC now owns 20,798 shares of the biopharmaceutical company’s stock worth $908,000 after buying an additional 6,438 shares in the last quarter. 67.06% of the stock is owned by institutional investors and hedge funds.

In related news, insider Rady A. Johnson sold 8,700 shares of the company’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $41.13, for a total transaction of $357,831.00. Following the completion of the sale, the insider now directly owns 59,797 shares in the company, valued at approximately $2,459,450.61. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Mikael Dolsten sold 100,471 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $43.56, for a total transaction of $4,376,516.76. Following the sale, the insider now owns 390,097 shares of the company’s stock, valued at $16,992,625.32. The disclosure for this sale can be found here. Insiders have sold a total of 288,726 shares of company stock valued at $12,534,617 over the last quarter. 0.09% of the stock is currently owned by company insiders.

Shares of Pfizer stock opened at $41.95 on Friday. Pfizer Inc. has a 52-week low of $35.32 and a 52-week high of $46.47. The firm has a market capitalization of $249.72 billion, a PE ratio of 13.98, a price-to-earnings-growth ratio of 2.41 and a beta of 0.71. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.54 and a quick ratio of 1.27.

Pfizer (NYSE:PFE) last announced its quarterly earnings data on Tuesday, April 30th. The biopharmaceutical company reported $0.85 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.75 by $0.10. Pfizer had a net margin of 21.31% and a return on equity of 27.48%. The company had revenue of $13.12 billion during the quarter, compared to analysts’ expectations of $13.01 billion. During the same quarter in the prior year, the company earned $0.77 EPS. The firm’s revenue was up 1.6% on a year-over-year basis. As a group, equities research analysts forecast that Pfizer Inc. will post 2.89 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 10th will be issued a dividend of $0.36 per share. The ex-dividend date is Thursday, May 9th. This represents a $1.44 dividend on an annualized basis and a yield of 3.43%. Pfizer’s dividend payout ratio is currently 48.00%.

A number of equities analysts have commented on the stock. Argus raised shares of Pfizer from a “hold” rating to a “buy” rating and set a $55.00 price target for the company in a research note on Thursday, January 31st. Credit Suisse Group reissued a “buy” rating and issued a $48.00 price target on shares of Pfizer in a research note on Monday, May 6th. Barclays reissued a “hold” rating and issued a $41.00 price target on shares of Pfizer in a research note on Thursday, May 9th. Bank of America upped their price objective on shares of Pfizer from $45.00 to $48.00 and gave the company a “buy” rating in a research note on Monday, April 1st. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $46.00 price objective on shares of Pfizer in a research note on Friday, April 19th. Fourteen research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $45.83.

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Pfizer Company Profile

Pfizer Inc discovers, develops, manufactures, and sells healthcare products worldwide. It offers medicines and vaccines in various therapeutic areas, including internal medicine, vaccines, oncology, inflammation and immunology, and rare diseases under the Lyrica, Chantix/Champix, Eliquis, Ibrance, Sutent, Xalkori, Inlyta, Xtandi, Enbrel, Xeljanz, Eucrisa, BeneFix, Genotropin, and Refacto AF/Xyntha brands.

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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).

Institutional Ownership by Quarter for Pfizer (NYSE:PFE)

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