Banced Corp Takes $209,000 Position in Pfizer Inc. (PFE)

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Banced Corp purchased a new position in Pfizer Inc. (NYSE:PFE) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 5,783 shares of the biopharmaceutical company’s stock, valued at approximately $209,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. AXA raised its position in Pfizer by 9.2% during the fourth quarter. AXA now owns 5,188,453 shares of the biopharmaceutical company’s stock valued at $187,926,000 after acquiring an additional 438,040 shares in the last quarter. Gagnon Securities LLC raised its position in Pfizer by 61.1% during the first quarter. Gagnon Securities LLC now owns 14,708 shares of the biopharmaceutical company’s stock valued at $522,000 after acquiring an additional 5,581 shares in the last quarter. Peapack Gladstone Financial Corp raised its position in Pfizer by 1.4% during the first quarter. Peapack Gladstone Financial Corp now owns 228,149 shares of the biopharmaceutical company’s stock valued at $8,097,000 after acquiring an additional 3,089 shares in the last quarter. Baxter Bros Inc. raised its position in Pfizer by 61.7% during the first quarter. Baxter Bros Inc. now owns 21,904 shares of the biopharmaceutical company’s stock valued at $777,000 after acquiring an additional 8,356 shares in the last quarter. Finally, Sawtooth Solutions LLC raised its position in Pfizer by 195.3% during the fourth quarter. Sawtooth Solutions LLC now owns 53,196 shares of the biopharmaceutical company’s stock valued at $1,926,000 after acquiring an additional 35,182 shares in the last quarter. 69.12% of the stock is owned by institutional investors and hedge funds.

Several equities analysts have commented on the company. Cantor Fitzgerald set a $45.00 price target on Pfizer and gave the company a “buy” rating in a report on Monday. Jefferies Financial Group reiterated a “neutral” rating and set a $39.00 price target on shares of Pfizer in a report on Monday, May 14th. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Pfizer in a report on Tuesday, July 31st. Goldman Sachs Group reiterated a “neutral” rating and set a $42.00 price target on shares of Pfizer in a report on Wednesday, August 1st. Finally, Zacks Investment Research downgraded Pfizer from a “buy” rating to a “hold” rating in a report on Monday, August 6th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and nine have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $41.74.

Shares of Pfizer stock opened at $41.50 on Friday. The firm has a market capitalization of $247.52 billion, a PE ratio of 15.66, a P/E/G ratio of 2.01 and a beta of 0.96. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.91 and a current ratio of 1.16. Pfizer Inc. has a 1 year low of $33.20 and a 1 year high of $42.77.

Pfizer (NYSE:PFE) last announced its quarterly earnings data on Tuesday, July 31st. The biopharmaceutical company reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.07. The business had revenue of $13.47 billion for the quarter, compared to the consensus estimate of $13.30 billion. Pfizer had a net margin of 42.35% and a return on equity of 25.35%. Pfizer’s quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter last year, the company posted $0.67 earnings per share. sell-side analysts anticipate that Pfizer Inc. will post 2.99 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 4th. Stockholders of record on Friday, August 3rd will be paid a $0.34 dividend. The ex-dividend date is Thursday, August 2nd. This represents a $1.36 annualized dividend and a dividend yield of 3.28%. Pfizer’s payout ratio is 51.32%.

In other news, Director W Don Cornwell sold 5,223 shares of the firm’s 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 sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Alexander R. Mackenzie sold 25,642 shares of the firm’s stock in a transaction on Friday, August 3rd. The stock was sold at an average price of $39.51, for a total transaction of $1,013,115.42. Following the completion of the sale, the insider now owns 127,954 shares in the company, valued at approximately $5,055,462.54. The disclosure for this sale can be found here. In the last 90 days, insiders sold 785,453 shares of company stock worth $29,937,357. 0.06% of the stock is currently owned by corporate insiders.

About Pfizer

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.

Further Reading: What is a closed-end mutual fund (CEF)?

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Institutional Ownership by Quarter for Pfizer (NYSE:PFE)

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