DNB Asset Management AS lessened its holdings in shares of Pfizer Inc. (NYSE:PFE) by 12.9% during the third quarter, Holdings Channel reports. The firm owned 3,679,532 shares of the biopharmaceutical company’s stock after selling 546,117 shares during the quarter. Pfizer makes up about 1.4% of DNB Asset Management AS’s investment portfolio, making the stock its 14th biggest position. DNB Asset Management AS’s holdings in Pfizer were worth $135,039,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in PFE. NewSquare Capital LLC increased its stake in shares of Pfizer by 0.4% in the 2nd quarter. NewSquare Capital LLC now owns 60,418 shares of the biopharmaceutical company’s stock worth $1,976,000 after acquiring an additional 266 shares in the last quarter. Aevitas Wealth Management Inc. grew its holdings in Pfizer by 1.7% in the second quarter. Aevitas Wealth Management Inc. now owns 15,916 shares of the biopharmaceutical company’s stock worth $520,000 after purchasing an additional 269 shares during the period. Cutter & CO Brokerage Inc. increased its stake in shares of Pfizer by 2.0% during the second quarter. Cutter & CO Brokerage Inc. now owns 13,695 shares of the biopharmaceutical company’s stock valued at $448,000 after purchasing an additional 274 shares in the last quarter. Beaumont Asset Management L.L.C. lifted its holdings in shares of Pfizer by 1.3% during the second quarter. Beaumont Asset Management L.L.C. now owns 21,244 shares of the biopharmaceutical company’s stock valued at $694,000 after purchasing an additional 276 shares during the last quarter. Finally, Dividend Assets Capital LLC lifted its holdings in shares of Pfizer by 0.9% during the second quarter. Dividend Assets Capital LLC now owns 30,606 shares of the biopharmaceutical company’s stock valued at $1,001,000 after purchasing an additional 278 shares during the last quarter. 69.08% of the stock is owned by institutional investors and hedge funds.
In other Pfizer news, Director Ronald E. Blaylock acquired 13,000 shares of the stock in a transaction dated Thursday, August 6th. The shares were purchased at an average price of $38.55 per share, for a total transaction of $501,150.00. Following the purchase, the director now directly owns 4,000 shares of the company’s stock, valued at $154,200. The acquisition was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.08% of the company’s stock.
Pfizer (NYSE:PFE) last released its quarterly earnings results on Tuesday, July 28th. The biopharmaceutical company reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.14. Pfizer had a return on equity of 25.11% and a net margin of 28.80%. The firm had revenue of $11.80 billion for the quarter, compared to analysts’ expectations of $11.55 billion. During the same period in the prior year, the firm earned $0.80 EPS. The company’s revenue was down 11.0% compared to the same quarter last year. As a group, equities analysts predict that Pfizer Inc. will post 2.89 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Friday, November 6th will be given a $0.38 dividend. The ex-dividend date of this dividend is Thursday, November 5th. This represents a $1.52 annualized dividend and a yield of 4.01%. Pfizer’s payout ratio is 51.53%.
PFE has been the subject of a number of analyst reports. Atlantic Securities lowered Pfizer from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $44.00 to $39.00 in a research report on Monday, October 12th. Piper Sandler raised their price target on Pfizer from $18.50 to $24.00 in a report on Friday, June 26th. ValuEngine cut shares of Pfizer from a “hold” rating to a “sell” rating in a research note on Thursday, July 30th. Morgan Stanley increased their price objective on shares of Pfizer from $36.00 to $42.00 and gave the company an “equal weight” rating in a research report on Thursday, July 30th. Finally, Royal Bank of Canada set a $43.00 target price on shares of Pfizer and gave the stock a “buy” rating in a report on Friday. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company’s stock. Pfizer currently has a consensus rating of “Hold” and an average price target of $39.64.
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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