SlateStone Wealth LLC Sells 4,402 Shares of Pfizer Inc. (NYSE:PFE)

SlateStone Wealth LLC cut its stake in Pfizer Inc. (NYSE:PFE) by 3.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 121,943 shares of the biopharmaceutical company’s stock after selling 4,402 shares during the period. Pfizer accounts for about 1.3% of SlateStone Wealth LLC’s investment portfolio, making the stock its 20th biggest position. SlateStone Wealth LLC’s holdings in Pfizer were worth $4,381,000 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 business. Morgan Stanley raised its stake in shares of Pfizer by 2.4% in the second quarter. Morgan Stanley now owns 46,536,777 shares of the biopharmaceutical company’s stock worth $2,015,972,000 after acquiring an additional 1,071,897 shares during the last quarter. Fisher Asset Management LLC raised its stake in shares of Pfizer by 2.6% in the third quarter. Fisher Asset Management LLC now owns 45,291,398 shares of the biopharmaceutical company’s stock worth $1,627,320,000 after acquiring an additional 1,158,147 shares during the last quarter. Nuveen Asset Management LLC grew its position in shares of Pfizer by 2,240.5% during the 2nd quarter. Nuveen Asset Management LLC now owns 36,086,254 shares of the biopharmaceutical company’s stock worth $1,563,256,000 after buying an additional 34,544,423 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Pfizer by 2.5% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 35,948,881 shares of the biopharmaceutical company’s stock worth $1,557,306,000 after buying an additional 868,839 shares during the period. Finally, California Public Employees Retirement System grew its position in shares of Pfizer by 5.3% during the 2nd quarter. California Public Employees Retirement System now owns 23,186,244 shares of the biopharmaceutical company’s stock worth $1,004,428,000 after buying an additional 1,159,857 shares during the period. 71.52% of the stock is owned by institutional investors.

Several brokerages have recently commented on PFE. Zacks Investment Research upgraded shares of Pfizer from a “sell” rating to a “strong-buy” rating and set a $38.00 price target for the company in a research report on Tuesday, October 1st. Morgan Stanley lowered their price target on shares of Pfizer from $40.00 to $38.00 and set an “equal weight” rating for the company in a research report on Tuesday, August 27th. Bank of America began coverage on shares of Pfizer in a research report on Wednesday, October 16th. They set a “neutral” rating and a $37.00 price target for the company. UBS Group reiterated a “neutral” rating and set a $43.00 price target on shares of Pfizer in a research report on Monday, August 5th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Pfizer in a research report on Tuesday, October 29th. Nine research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Hold” and an average target price of $44.02.

Shares of NYSE:PFE traded down $0.12 during trading on Monday, hitting $36.93. 11,900,140 shares of the company’s stock were exchanged, compared to its average volume of 23,314,186. The firm has a market cap of $207.30 billion, a P/E ratio of 12.31, a PEG ratio of 2.11 and a beta of 0.67. The firm has a 50-day moving average price of $36.62 and a two-hundred day moving average price of $39.26. The company has a current ratio of 1.47, a quick ratio of 1.21 and a debt-to-equity ratio of 0.60. Pfizer Inc. has a 1-year low of $33.97 and a 1-year high of $46.47.

Pfizer (NYSE:PFE) last issued its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $0.75 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.13. The firm had revenue of $12.68 billion during the quarter, compared to analysts’ expectations of $12.37 billion. Pfizer had a net margin of 30.57% and a return on equity of 28.61%. The business’s revenue for the quarter was down 4.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.78 earnings per share. As a group, research analysts predict that Pfizer Inc. will post 2.96 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors 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 yield of 3.90%. The ex-dividend date of this dividend is Thursday, November 7th. Pfizer’s dividend payout ratio is currently 48.00%.

In other news, major shareholder Pfizer Inc acquired 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The stock was purchased at an average price of $18.00 per share, for a total transaction of $900,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Scott Gottlieb acquired 3,000 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were purchased at an average price of $34.72 per share, with a total value of $104,160.00. Following the acquisition, the director now owns 3,000 shares of the company’s stock, valued at approximately $104,160. The disclosure for this purchase can be found here. 0.09% of the stock is currently owned by insiders.

About Pfizer

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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Institutional Ownership by Quarter for Pfizer (NYSE:PFE)

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