Traders Buy Shares of Pfizer, Inc. (PFE) on Weakness

Investors purchased shares of Pfizer, Inc. (NYSE:PFE) on weakness during trading hours on Thursday. $129.75 million flowed into the stock on the tick-up and $56.25 million flowed out of the stock on the tick-down, for a money net flow of $73.50 million into the stock. Of all stocks tracked, Pfizer had the 10th highest net in-flow for the day. Pfizer traded down ($0.10) for the day and closed at $36.35

PFE has been the subject of several recent analyst reports. Credit Suisse Group lowered shares of Pfizer from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $38.00 to $36.00 in a research note on Thursday, July 20th. BMO Capital Markets reissued a “buy” rating and issued a $37.00 price target on shares of Pfizer in a report on Wednesday, September 6th. Zacks Investment Research raised shares of Pfizer from a “sell” rating to a “hold” rating in a report on Friday, July 14th. Vetr downgraded shares of Pfizer from a “buy” rating to a “hold” rating and set a $35.71 price target on the stock. in a report on Wednesday, September 13th. Finally, Jefferies Group LLC reissued a “neutral” rating and issued a $34.00 price target on shares of Pfizer in a report on Friday, June 16th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $38.10.

The stock has a 50 day moving average price of $35.11 and a 200 day moving average price of $33.75. The stock has a market cap of $216.19 billion, a PE ratio of 26.59 and a beta of 1.00.

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

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Friday, November 10th will be given a dividend of $0.32 per share. The ex-dividend date is Thursday, November 9th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.52%. Pfizer’s payout ratio is currently 94.12%.

In other news, insider Alexander R. Mackenzie sold 15,000 shares of Pfizer stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $33.50, for a total transaction of $502,500.00. Following the transaction, the insider now directly owns 151,474 shares of the company’s stock, valued at approximately $5,074,379. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Ian C. Read sold 197,168 shares of Pfizer stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $34.00, for a total value of $6,703,712.00. Following the transaction, the chief executive officer now directly owns 580,318 shares in the company, valued at $19,730,812. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 464,521 shares of company stock worth $15,813,961. Insiders own 0.06% of the company’s stock.

Hedge funds have recently bought and sold shares of the company. Altfest L J & Co. Inc. lifted its position in shares of Pfizer by 67.0% during the 2nd quarter. Altfest L J & Co. Inc. now owns 107,278 shares of the biopharmaceutical company’s stock valued at $3,603,000 after buying an additional 43,024 shares in the last quarter. Sphera Funds Management LTD. purchased a new position in Pfizer in the 1st quarter worth approximately $13,342,000. Searle & CO. lifted its holdings in Pfizer by 92.7% in the 1st quarter. Searle & CO. now owns 80,052 shares of the biopharmaceutical company’s stock worth $2,739,000 after purchasing an additional 38,500 shares in the last quarter. Insight 2811 Inc. lifted its holdings in Pfizer by 3.7% in the 1st quarter. Insight 2811 Inc. now owns 9,324 shares of the biopharmaceutical company’s stock worth $319,000 after purchasing an additional 329 shares in the last quarter. Finally, Washington Trust Bank lifted its holdings in Pfizer by 0.7% in the 2nd quarter. Washington Trust Bank now owns 51,052 shares of the biopharmaceutical company’s stock worth $1,715,000 after purchasing an additional 377 shares in the last quarter. 68.99% of the stock is currently owned by hedge funds and other institutional investors.

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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).

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