Westpac Banking Corp Reduces Stake in Pfizer, Inc. (PFE)

Westpac Banking Corp cut its position in shares of Pfizer, Inc. (NYSE:PFE) by 19.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 815,793 shares of the biopharmaceutical company’s stock after selling 198,307 shares during the period. Westpac Banking Corp’s holdings in Pfizer were worth $26,031,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Norges Bank acquired a new position in Pfizer during the fourth quarter worth about $1,896,890,000. Fisher Asset Management LLC boosted its stake in shares of Pfizer by 1.7% in the first quarter. Fisher Asset Management LLC now owns 32,759,530 shares of the biopharmaceutical company’s stock valued at $1,120,704,000 after buying an additional 554,777 shares in the last quarter. Macquarie Group Ltd. boosted its stake in shares of Pfizer by 8.2% in the fourth quarter. Macquarie Group Ltd. now owns 24,455,341 shares of the biopharmaceutical company’s stock valued at $794,310,000 after buying an additional 1,845,343 shares in the last quarter. Boston Partners boosted its stake in shares of Pfizer by 7.3% in the first quarter. Boston Partners now owns 24,263,989 shares of the biopharmaceutical company’s stock valued at $830,071,000 after buying an additional 1,649,801 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of Pfizer by 1.0% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 17,376,931 shares of the biopharmaceutical company’s stock valued at $594,465,000 after buying an additional 169,073 shares in the last quarter. 69.94% of the stock is owned by institutional investors and hedge funds.

Shares of Pfizer, Inc. (NYSE:PFE) opened at 32.67 on Friday. The company has a market cap of $194.30 billion, a PE ratio of 23.90 and a beta of 1.00. The stock’s 50 day moving average price is $33.30 and its 200-day moving average price is $33.38. Pfizer, Inc. has a 52 week low of $29.83 and a 52 week high of $35.38.

Pfizer (NYSE:PFE) last issued its earnings results on Tuesday, August 1st. The biopharmaceutical company reported $0.67 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.02. The firm had revenue of $12.90 billion for the quarter, compared to analyst estimates of $13.08 billion. Pfizer had a return on equity of 24.51% and a net margin of 15.84%. The business’s revenue was down 1.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.64 earnings per share. Analysts expect that Pfizer, Inc. will post $2.56 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 4th will be paid a $0.32 dividend. The ex-dividend date is Wednesday, August 2nd. This represents a $1.28 annualized dividend and a dividend yield of 3.92%. Pfizer’s payout ratio is presently 94.12%.

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PFE has been the subject of several recent research reports. Cowen and Company set a $43.00 price objective on Pfizer and gave the stock a “buy” rating in a report on Monday, July 10th. Barclays PLC reaffirmed a “buy” rating and issued a $38.00 price target on shares of Pfizer in a research note on Wednesday, May 3rd. Sanford C. Bernstein reaffirmed a “buy” rating and issued a $37.00 price target on shares of Pfizer in a research note on Wednesday, May 3rd. UBS AG reaffirmed a “buy” rating and issued a $38.00 price target on shares of Pfizer in a research note on Monday, July 31st. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $35.00 price target (up from $34.00) on shares of Pfizer in a research note on Friday, July 14th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and ten have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $37.61.

In related news, insider Alexander R. Mackenzie sold 15,000 shares of the business’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $33.50, for a total transaction of $502,500.00. Following the sale, the insider now directly owns 151,474 shares in the company, valued at approximately $5,074,379. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Ian C. Read sold 96,950 shares of the business’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $34.00, for a total value of $3,296,300.00. The disclosure for this sale can be found here. Insiders own 0.06% of the company’s stock.

About Pfizer

Pfizer Inc (Pfizer) is a research-based global biopharmaceutical company. The Company is engaged in the discovery, development and manufacture of healthcare products. Its global portfolio includes medicines and vaccines, as well as consumer healthcare products. The Company manages its commercial operations through two business segments: Pfizer Innovative Health (IH) and Pfizer Essential Health (EH).

Institutional Ownership by Quarter for Pfizer (NYSE:PFE)

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