Grassi Investment Management grew its position in shares of Pfizer Inc. (NYSE:PFE) by 1.0% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 190,552 shares of the biopharmaceutical company’s stock after purchasing an additional 1,840 shares during the quarter. Grassi Investment Management’s holdings in Pfizer were worth $6,913,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently modified their holdings of PFE. Ballew Advisors Inc acquired a new position in shares of Pfizer during the 1st quarter valued at $102,000. Earnest Partners LLC acquired a new position in shares of Pfizer during the 4th quarter valued at $105,000. First Dallas Securities Inc. acquired a new position in shares of Pfizer during the 4th quarter valued at $118,000. Woodard & Co. Asset Management Group Inc. ADV acquired a new position in shares of Pfizer during the 4th quarter valued at $118,000. Finally, Delpha Capital Management LLC acquired a new position in shares of Pfizer in the 4th quarter worth $126,000. Institutional investors own 69.12% of the company’s stock.
In other news, CEO Ian C. Read sold 486,753 shares of Pfizer stock in a transaction on Monday, July 16th. The stock was sold at an average price of $37.36, for a total transaction of $18,185,092.08. Following the transaction, the chief executive officer now owns 1,145,693 shares in the company, valued at $42,803,090.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director W Don Cornwell sold 5,223 shares of Pfizer stock in a transaction on Monday, June 4th. The shares were sold at an average price of $36.40, for a total value of $190,117.20. The disclosure for this sale can be found here. Insiders have sold 785,453 shares of company stock worth $29,937,357 in the last quarter. 0.06% of the stock is currently owned by corporate insiders.
Shares of PFE stock opened at $41.50 on Thursday. Pfizer Inc. has a 1-year low of $33.20 and a 1-year high of $42.77. The company has a current ratio of 1.16, a quick ratio of 0.91 and a debt-to-equity ratio of 0.41. The firm has a market cap of $252.40 billion, a PE ratio of 15.66, a price-to-earnings-growth ratio of 2.05 and a beta of 0.96.
Pfizer (NYSE:PFE) last issued its quarterly earnings results on Tuesday, July 31st. The biopharmaceutical company reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.07. Pfizer had a return on equity of 25.35% and a net margin of 42.35%. The business had revenue of $13.47 billion for the quarter, compared to the consensus estimate of $13.30 billion. During the same quarter in the previous year, the company posted $0.67 earnings per share. Pfizer’s revenue for the quarter was up 4.4% compared to the same quarter last year. equities research analysts anticipate that Pfizer Inc. will post 2.99 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 4th. Stockholders of record on Friday, August 3rd will be issued a dividend of $0.34 per share. The ex-dividend date of this dividend is Thursday, August 2nd. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.28%. Pfizer’s dividend payout ratio is 51.32%.
PFE has been the topic of a number of recent research reports. Credit Suisse Group restated a “neutral” rating and issued a $39.00 target price on shares of Pfizer in a report on Friday, May 18th. BMO Capital Markets lifted their target price on Pfizer from $42.00 to $44.00 and gave the stock an “outperform” rating in a report on Wednesday, August 1st. Morgan Stanley restated a “buy” rating and issued a $43.00 target price on shares of Pfizer in a report on Monday, June 11th. ValuEngine cut Pfizer from a “buy” rating to a “hold” rating in a report on Wednesday, May 2nd. Finally, Jefferies Financial Group set a $39.00 target price on Pfizer and gave the stock a “neutral” rating in a report on Tuesday, July 31st. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and nine have given a buy rating to the company. Pfizer currently has an average rating of “Hold” and a consensus price target of $41.74.
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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