Oakbrook Investments LLC cut its stake in Pfizer Inc. (NYSE:PFE) by 15.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 283,273 shares of the biopharmaceutical company’s stock after selling 51,800 shares during the quarter. Oakbrook Investments LLC’s holdings in Pfizer were worth $10,113,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in PFE. Beaumont Financial Partners LLC increased its position in shares of Pfizer by 17.1% during the first quarter. Beaumont Financial Partners LLC now owns 8,597 shares of the biopharmaceutical company’s stock worth $294,000 after acquiring an additional 1,254 shares during the last quarter. Grandfield & Dodd LLC increased its position in shares of Pfizer by 0.3% during the first quarter. Grandfield & Dodd LLC now owns 83,230 shares of the biopharmaceutical company’s stock worth $2,847,000 after acquiring an additional 250 shares during the last quarter. Usca Ria LLC increased its position in shares of Pfizer by 19.6% during the first quarter. Usca Ria LLC now owns 331,931 shares of the biopharmaceutical company’s stock worth $11,355,000 after acquiring an additional 54,492 shares during the last quarter. Willingdon Wealth Management increased its position in shares of Pfizer by 2.9% during the first quarter. Willingdon Wealth Management now owns 67,002 shares of the biopharmaceutical company’s stock worth $2,292,000 after acquiring an additional 1,883 shares during the last quarter. Finally, GFS Advisors LLC increased its position in shares of Pfizer by 0.5% during the first quarter. GFS Advisors LLC now owns 84,558 shares of the biopharmaceutical company’s stock worth $2,893,000 after acquiring an additional 451 shares during the last quarter. 69.75% of the stock is currently owned by institutional investors.
Pfizer Inc. (NYSE PFE) opened at $36.14 on Friday. The company has a market capitalization of $215,420.00, a PE ratio of 22.17, a P/E/G ratio of 2.57 and a beta of 1.01. Pfizer Inc. has a 52 week low of $30.90 and a 52 week high of $37.35. The company has a quick ratio of 1.15, a current ratio of 1.43 and a debt-to-equity ratio of 0.56.
Pfizer declared that its Board of Directors has approved a share buyback plan on Monday, December 18th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the biopharmaceutical company to purchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Friday, February 2nd will be paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 3.76%. This is an increase from Pfizer’s previous quarterly dividend of $0.32. The ex-dividend date is Thursday, February 1st. Pfizer’s dividend payout ratio (DPR) is 78.53%.
In related news, insider Alexander R. Mackenzie sold 6,750 shares of Pfizer stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $37.00, for a total value of $249,750.00. Following the completion of the transaction, the insider now directly owns 103,458 shares in the company, valued at $3,827,946. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Rady A. Johnson sold 8,000 shares of Pfizer stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $37.07, for a total value of $296,560.00. Following the completion of the transaction, the executive vice president now owns 46,963 shares of the company’s stock, valued at $1,740,918.41. The disclosure for this sale can be found here. Insiders sold 36,800 shares of company stock valued at $1,327,248 over the last quarter. Insiders own 0.06% of the company’s stock.
PFE has been the topic of a number of analyst reports. BMO Capital Markets reaffirmed a “buy” rating and set a $39.00 target price on shares of Pfizer in a research report on Friday, November 10th. UBS set a $40.00 target price on Pfizer and gave the stock a “buy” rating in a research report on Wednesday, December 6th. Vetr raised Pfizer from a “hold” rating to a “buy” rating and set a $38.82 target price on the stock in a research report on Thursday, November 23rd. Zacks Investment Research raised Pfizer from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a research report on Tuesday, October 3rd. Finally, Jefferies Group set a $39.00 target price on Pfizer and gave the stock a “neutral” rating in a research report on Thursday, November 16th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $38.77.
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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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