Penobscot Investment Management Company Inc. cut its position in shares of Pfizer Inc. (NYSE:PFE) by 8.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 104,947 shares of the biopharmaceutical company’s stock after selling 9,700 shares during the quarter. Penobscot Investment Management Company Inc.’s holdings in Pfizer were worth $3,771,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. 1 North Wealth Services LLC bought a new position in Pfizer during the third quarter worth $29,000. Bourgeon Capital Management LLC bought a new position in Pfizer during the third quarter worth $32,000. Evolution Wealth Advisors LLC acquired a new stake in Pfizer in the second quarter worth $34,000. IMA Wealth Inc. increased its position in Pfizer by 144.5% in the second quarter. IMA Wealth Inc. now owns 807 shares of the biopharmaceutical company’s stock worth $35,000 after buying an additional 477 shares during the period. Finally, B & T Capital Management DBA Alpha Capital Management acquired a new stake in Pfizer in the third quarter worth $36,000. Hedge funds and other institutional investors own 71.52% of the company’s stock.
PFE has been the topic of several analyst reports. Zacks Investment Research raised Pfizer from a “sell” rating to a “strong-buy” rating and set a $38.00 target price on the stock in a research report on Tuesday, October 1st. Morgan Stanley dropped their target price on Pfizer from $40.00 to $38.00 and set an “equal weight” rating on the stock in a research report on Tuesday, August 27th. UBS Group reaffirmed a “neutral” rating and issued a $43.00 target price on shares of Pfizer in a research report on Monday, August 5th. ValuEngine raised Pfizer from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of Pfizer in a research report on Tuesday, October 29th. Nine equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $44.02.
Shares of PFE traded down $0.12 during trading hours on Monday, reaching $36.93. 11,849,775 shares of the company’s stock traded hands, compared to its average volume of 23,366,957. The firm has a market capitalization of $207.30 billion, a price-to-earnings ratio of 12.31, a P/E/G ratio of 2.11 and a beta of 0.67. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.47 and a quick ratio of 1.21. Pfizer Inc. has a twelve month low of $33.97 and a twelve month high of $46.47. The business’s fifty day simple moving average is $36.62 and its two-hundred day simple moving average is $39.26.
Pfizer (NYSE:PFE) last issued its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.13. The company had revenue of $12.68 billion for the quarter, compared to analyst estimates of $12.37 billion. Pfizer had a return on equity of 28.61% and a net margin of 30.57%. The company’s quarterly revenue was down 4.6% compared to the same quarter last year. During the same period last year, the company earned $0.78 earnings per share. On average, equities research analysts expect that Pfizer Inc. will post 2.96 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.90%. The ex-dividend date is Thursday, November 7th. Pfizer’s dividend payout ratio (DPR) is 48.00%.
In other Pfizer news, Director Scott Gottlieb purchased 3,000 shares of the stock in a transaction dated Friday, August 23rd. The shares were bought at an average cost of $34.72 per share, with a total value of $104,160.00. Following the completion of the acquisition, the director now owns 3,000 shares of the company’s stock, valued at $104,160. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Pfizer Inc purchased 50,000 shares of the stock in a transaction dated Tuesday, September 17th. The shares were acquired at an average cost of $18.00 per share, for a total transaction of $900,000.00. The disclosure for this purchase can be found here. 0.09% of the stock is currently owned by company insiders.
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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