Princeton Capital Management LLC cut its stake in Pfizer Inc. (NYSE:PFE) by 2.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 71,958 shares of the biopharmaceutical company’s stock after selling 2,003 shares during the period. Princeton Capital Management LLC’s holdings in Pfizer were worth $2,607,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently made changes to their positions in PFE. Norges Bank bought a new position in shares of Pfizer in the fourth quarter worth about $2,219,532,000. BlackRock Inc. raised its stake in shares of Pfizer by 2.2% in the first quarter. BlackRock Inc. now owns 405,733,970 shares of the biopharmaceutical company’s stock worth $14,699,742,000 after acquiring an additional 8,760,458 shares during the last quarter. Morgan Stanley raised its stake in shares of Pfizer by 16.4% in the fourth quarter. Morgan Stanley now owns 53,610,111 shares of the biopharmaceutical company’s stock worth $1,973,389,000 after acquiring an additional 7,540,245 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Pfizer by 12.1% in the fourth quarter. Bank of New York Mellon Corp now owns 64,756,839 shares of the biopharmaceutical company’s stock worth $2,383,700,000 after acquiring an additional 6,965,496 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Pfizer during the fourth quarter worth approximately $162,707,000. 64.22% of the stock is owned by institutional investors.
PFE traded down $0.59 during trading hours on Friday, hitting $40.09. 654,365 shares of the company’s stock were exchanged, compared to its average volume of 30,701,137. Pfizer Inc. has a 1-year low of $31.61 and a 1-year high of $43.08. The firm has a 50-day moving average price of $38.76. The company has a market capitalization of $224.41 billion, a PE ratio of 20.76, a price-to-earnings-growth ratio of 1.42 and a beta of 0.74. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.16 and a current ratio of 1.48.
The firm also recently announced a quarterly dividend, which was paid on Friday, June 4th. Investors of record on Friday, May 7th were issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 3.89%. The ex-dividend date of this dividend was Thursday, May 6th. Pfizer’s payout ratio is 70.27%.
In other Pfizer news, SVP Jennifer B. Damico sold 2,500 shares of the company’s stock in a transaction on Wednesday, May 5th. The shares were sold at an average price of $40.82, for a total transaction of $102,050.00. Following the sale, the senior vice president now directly owns 13,748 shares of the company’s stock, valued at $561,193.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.05% of the company’s stock.
PFE has been the subject of a number of recent research reports. Morgan Stanley boosted their price target on shares of Pfizer from $38.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Monday, May 10th. JPMorgan Chase & Co. set a $40.00 price target on shares of Pfizer and gave the stock a “neutral” rating in a research note on Monday, May 24th. Berenberg Bank reissued a “neutral” rating and set a $38.00 price target on shares of Pfizer in a research note on Tuesday, March 23rd. SVB Leerink boosted their price target on shares of Pfizer from $39.00 to $43.00 and gave the stock a “market perform” rating in a research note on Wednesday, May 5th. Finally, The Goldman Sachs Group set a $45.00 target price on shares of Pfizer and gave the company a “neutral” rating in a research note on Monday, May 24th. Twelve research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Pfizer currently has an average rating of “Hold” and a consensus target price of $39.73.
Pfizer Company Profile
Pfizer Inc discovers, develops, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It offers medicines and vaccines in various therapeutic areas, including cardiovascular metabolic and pain under the Eliquis, Chantix/Champix, and Premarin family brands; biologics, small molecules, immunotherapies, and biosimilars under the Ibrance, Xtandi, Sutent, Inlyta, Retacrit, Lorbrena, and Braftovi brands; and sterile injectable and anti-infective medicines under the Sulperazon, Medrol, Zithromax, Vfend, and Panzyga brands.
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