Sunbelt Securities Inc. increased its stake in shares of Pfizer Inc. (NYSE:PFE) by 443.7% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 50,745 shares of the biopharmaceutical company’s stock after purchasing an additional 41,411 shares during the period. Pfizer accounts for 1.1% of Sunbelt Securities Inc.’s investment portfolio, making the stock its 25th largest position. Sunbelt Securities Inc.’s holdings in Pfizer were worth $1,841,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently modified their holdings of PFE. BlackRock Inc. lifted its holdings in Pfizer by 1.5% during the 1st quarter. BlackRock Inc. now owns 459,530,944 shares of the biopharmaceutical company’s stock worth $16,308,754,000 after purchasing an additional 6,785,335 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Pfizer by 11.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 47,174,487 shares of the biopharmaceutical company’s stock worth $1,674,223,000 after purchasing an additional 4,998,981 shares in the last quarter. Jensen Investment Management Inc. purchased a new stake in Pfizer during the 2nd quarter worth about $110,291,000. Robeco Institutional Asset Management B.V. lifted its holdings in Pfizer by 75.3% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 7,038,854 shares of the biopharmaceutical company’s stock worth $249,807,000 after purchasing an additional 3,024,270 shares in the last quarter. Finally, Neuberger Berman Group LLC increased its stake in Pfizer by 17.9% in the 1st quarter. Neuberger Berman Group LLC now owns 16,056,110 shares of the biopharmaceutical company’s stock worth $569,979,000 after acquiring an additional 2,432,694 shares during the last quarter. 68.96% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages have weighed in on PFE. BMO Capital Markets lowered Pfizer from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $47.00 to $46.00 in a research note on Thursday. They noted that the move was a valuation call. Societe Generale set a $43.00 target price on Pfizer and gave the stock a “hold” rating in a research note on Thursday. Credit Suisse Group restated a “neutral” rating and issued a $40.00 target price on shares of Pfizer in a research note on Tuesday, October 30th. Goldman Sachs Group restated a “neutral” rating and issued a $45.00 target price on shares of Pfizer in a research note on Tuesday, October 30th. Finally, JPMorgan Chase & Co. restated a “buy” rating on shares of Pfizer in a research note on Tuesday, October 30th. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eight have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $42.95.
In related news, major shareholder Pfizer Inc bought 55,556 shares of the company’s stock in a transaction that occurred on Monday, October 15th. The stock was bought at an average cost of $18.00 per share, for a total transaction of $1,000,008.00. Following the acquisition, the insider now directly owns 21,976,484 shares of the company’s stock, valued at approximately $395,576,712. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Laurie J. Olson sold 10,214 shares of the stock in a transaction dated Monday, August 13th. The shares were sold at an average price of $41.00, for a total value of $418,774.00. Following the sale, the insider now owns 72,672 shares of the company’s stock, valued at $2,979,552. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by corporate insiders.
Shares of Pfizer stock opened at $42.93 on Monday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.91 and a current ratio of 1.16. The stock has a market cap of $255.56 billion, a PE ratio of 16.20, a PEG ratio of 2.16 and a beta of 0.88. Pfizer Inc. has a 12 month low of $33.20 and a 12 month high of $45.81.
Pfizer (NYSE:PFE) last announced its quarterly earnings data on Tuesday, October 30th. The biopharmaceutical company reported $0.78 EPS for the quarter, beating the consensus estimate of $0.75 by $0.03. The firm had revenue of $13.30 billion for the quarter, compared to analyst estimates of $13.53 billion. Pfizer had a return on equity of 25.34% and a net margin of 44.63%. The company’s revenue was up 1.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.67 EPS. Research analysts forecast that Pfizer Inc. will post 3 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 3rd. Stockholders of record on Friday, November 9th will be given a dividend of $0.34 per share. The ex-dividend date of this dividend is Thursday, November 8th. This represents a $1.36 annualized dividend and a dividend yield of 3.17%. Pfizer’s dividend payout ratio (DPR) is presently 51.32%.
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.
Recommended Story: What Factors Can Affect Return on Equity?
Want to see what other hedge funds are holding PFE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pfizer Inc. (NYSE:PFE).
Receive News & Ratings for Pfizer Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pfizer and related companies with MarketBeat.com's FREE daily email newsletter.