American National Bank increased its stake in Pfizer (NYSE:PFE) by 6.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 175,029 shares of the biopharmaceutical company’s stock after acquiring an additional 10,687 shares during the period. Pfizer makes up about 1.8% of American National Bank’s holdings, making the stock its 18th largest holding. American National Bank’s holdings in Pfizer were worth $6,339,000 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 the company. Beach Investment Management LLC. acquired a new stake in shares of Pfizer during the second quarter worth about $5,214,000. Jones Collombin Investment Counsel Inc increased its position in shares of Pfizer by 1.2% during the second quarter. Jones Collombin Investment Counsel Inc now owns 266,500 shares of the biopharmaceutical company’s stock worth $8,952,000 after purchasing an additional 3,290 shares in the last quarter. Crescent Grove Advisors LLC acquired a new stake in shares of Pfizer during the second quarter worth about $1,060,000. Wedge Capital Management L L P NC acquired a new stake in shares of Pfizer during the second quarter worth about $214,000. Finally, Granite Investment Advisors LLC increased its position in shares of Pfizer by 3.3% during the second quarter. Granite Investment Advisors LLC now owns 8,635 shares of the biopharmaceutical company’s stock worth $286,000 after purchasing an additional 277 shares in the last quarter. Institutional investors and hedge funds own 71.20% of the company’s stock.
PFE traded down $0.44 during trading on Monday, reaching $35.05. The company’s stock had a trading volume of 26,723,223 shares, compared to its average volume of 24,922,238. Pfizer has a 52-week low of $31.67 and a 52-week high of $39.43. The company has a current ratio of 1.35, a quick ratio of 1.10 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $211,267.19, a PE ratio of 13.23, a P/E/G ratio of 1.77 and a beta of 0.90.
Pfizer (NYSE:PFE) last posted its quarterly earnings results on Tuesday, January 30th. The biopharmaceutical company reported $0.62 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.06. Pfizer had a net margin of 40.55% and a return on equity of 25.21%. The company had revenue of $13.70 billion during the quarter, compared to the consensus estimate of $13.67 billion. During the same period last year, the firm earned $0.47 EPS. The company’s revenue for the quarter was up .6% on a year-over-year basis. sell-side analysts predict that Pfizer will post 2.96 EPS for the current year.
Pfizer declared that its Board of Directors has initiated a stock buyback program on Monday, December 18th that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the biopharmaceutical company to purchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.
In other news, Director W Don Cornwell sold 1,758 shares of Pfizer stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $36.79, for a total transaction of $64,676.82. Following the completion of the sale, the director now directly owns 1,000 shares in the company, valued at approximately $36,790. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Sally Susman sold 33,368 shares of Pfizer stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $37.03, for a total transaction of $1,235,617.04. Following the sale, the executive vice president now owns 191,505 shares of the company’s stock, valued at $7,091,430.15. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 248,037 shares of company stock valued at $9,064,785. Insiders own 0.06% of the company’s stock.
A number of equities analysts recently issued reports on the company. BMO Capital Markets set a $43.00 price target on Pfizer and gave the stock a “buy” rating in a report on Tuesday, March 6th. Jefferies Group set a $39.00 price target on Pfizer and gave the stock a “hold” rating in a report on Monday, February 26th. Barclays raised their price target on Pfizer from $38.00 to $41.00 and gave the stock an “overweight” rating in a report on Wednesday, January 31st. Credit Suisse Group raised their price target on Pfizer from $37.00 to $39.00 and gave the stock a “neutral” rating in a report on Wednesday, January 31st. Finally, Leerink Swann raised their price target on Pfizer from $35.00 to $38.00 and gave the stock a “market perform” rating in a report on Wednesday, January 31st. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and eleven have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $39.40.
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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