Skandinaviska Enskilda Banken AB publ raised its holdings in shares of Pfizer Inc. (NYSE:PFE) by 24.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,493,763 shares of the biopharmaceutical company’s stock after buying an additional 1,681,524 shares during the quarter. Pfizer comprises about 2.8% of Skandinaviska Enskilda Banken AB publ’s portfolio, making the stock its biggest holding. Skandinaviska Enskilda Banken AB publ owned approximately 0.14% of Pfizer worth $374,320,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in PFE. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of Pfizer by 6.0% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 20,023,914 shares of the biopharmaceutical company’s stock worth $726,468,000 after buying an additional 1,139,678 shares in the last quarter. Paulson Wealth Management Inc. purchased a new stake in shares of Pfizer in the second quarter valued at about $204,000. Migdal Insurance & Financial Holdings Ltd. grew its holdings in shares of Pfizer by 2.4% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 689,263 shares of the biopharmaceutical company’s stock valued at $25,006,000 after purchasing an additional 16,102 shares during the period. First Manhattan Co. grew its holdings in shares of Pfizer by 1.0% in the second quarter. First Manhattan Co. now owns 5,080,913 shares of the biopharmaceutical company’s stock valued at $184,335,000 after purchasing an additional 51,658 shares during the period. Finally, Financial Management Professionals Inc. grew its holdings in shares of Pfizer by 49.0% in the second quarter. Financial Management Professionals Inc. now owns 6,085 shares of the biopharmaceutical company’s stock valued at $221,000 after purchasing an additional 2,000 shares during the period. 69.06% of the stock is owned by institutional investors and hedge funds.
In other Pfizer news, EVP Douglas M. Lankler sold 38,800 shares of the company’s stock in a transaction dated Wednesday, January 30th. The shares were sold at an average price of $41.19, for a total value 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Douglas M. Lankler sold 5,000 shares of the company’s 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 disclosure for this sale can be found here. Corporate insiders own 0.06% of the company’s stock.
NYSE PFE opened at $42.11 on Wednesday. Pfizer Inc. has a 12 month low of $33.20 and a 12 month high of $46.47. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.15 and a current ratio of 1.43. The stock has a market capitalization of $252.64 billion, a price-to-earnings ratio of 14.04, a P/E/G ratio of 2.46 and a beta of 0.77.
Pfizer (NYSE:PFE) last posted its earnings results on Tuesday, January 29th. The biopharmaceutical company reported $0.64 EPS for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $13.92 billion. During the same quarter in the prior year, the company posted $0.62 earnings per share. Pfizer’s revenue for the quarter was up 2.0% compared to the same quarter last year. As a group, analysts predict that Pfizer Inc. will post 2.86 EPS for the current fiscal year.
Pfizer declared that its board has approved a share buyback plan on Friday, December 14th that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the biopharmaceutical company to reacquire up to 3.8% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 1st. Shareholders of record on Friday, February 1st will be given a $0.36 dividend. The ex-dividend date of this dividend is Thursday, January 31st. This represents a $1.44 dividend on an annualized basis and a yield of 3.42%. This is a boost from Pfizer’s previous quarterly dividend of $0.34. Pfizer’s dividend payout ratio is presently 48.00%.
PFE has been the subject of a number of analyst reports. ValuEngine lowered shares of Pfizer from a “buy” rating to a “hold” rating in a report on Thursday, January 24th. Cantor Fitzgerald reissued a “buy” rating and issued a $53.00 price objective on shares of Pfizer in a report on Tuesday, December 11th. Atlantic Securities reissued a “buy” rating and issued a $54.00 price objective on shares of Pfizer in a report on Tuesday, November 27th. Credit Suisse Group reissued a “neutral” rating and issued a $45.00 price objective on shares of Pfizer in a report on Thursday, December 20th. Finally, Barclays set a $40.00 price objective on shares of Pfizer and gave the company a “neutral” rating in a report on Friday, October 19th. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and seven have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $44.68.
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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