Pfizer Inc. (PFE) Stake Lessened by Montecito Bank & Trust

Montecito Bank & Trust lowered its stake in shares of Pfizer Inc. (NYSE:PFE) by 6.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 46,095 shares of the biopharmaceutical company’s stock after selling 3,249 shares during the quarter. Pfizer comprises approximately 0.6% of Montecito Bank & Trust’s investment portfolio, making the stock its 29th largest holding. Montecito Bank & Trust’s holdings in Pfizer were worth $1,646,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Ahrens Investment Partners LLC purchased a new stake in Pfizer in the third quarter valued at approximately $204,000. Carnick & Kubik Group LLC purchased a new stake in Pfizer in the third quarter valued at approximately $2,622,000. DORCHESTER WEALTH MANAGEMENT Co boosted its position in Pfizer by 4.3% in the third quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 157,554 shares of the biopharmaceutical company’s stock valued at $5,625,000 after buying an additional 6,501 shares during the last quarter. Farmers & Merchants Investments Inc. boosted its position in Pfizer by 2.9% in the third quarter. Farmers & Merchants Investments Inc. now owns 163,799 shares of the biopharmaceutical company’s stock valued at $5,848,000 after buying an additional 4,641 shares during the last quarter. Finally, Financial Advisory Service Inc. boosted its position in Pfizer by 7.8% in the third quarter. Financial Advisory Service Inc. now owns 29,089 shares of the biopharmaceutical company’s stock valued at $1,038,000 after buying an additional 2,111 shares during the last quarter. Hedge funds and other institutional investors own 69.75% of the company’s stock.

In other news, EVP Rady A. Johnson sold 8,000 shares of the stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $37.07, for a total transaction of $296,560.00. Following the transaction, the executive vice president now owns 46,963 shares in the company, valued at approximately $1,740,918.41. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Alexander R. Mackenzie sold 14,700 shares of the stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $35.30, for a total value of $518,910.00. Following the transaction, the insider now owns 117,432 shares in the company, valued at approximately $4,145,349.60. The disclosure for this sale can be found here. Insiders have sold a total of 36,800 shares of company stock worth $1,327,248 in the last quarter. Insiders own 0.06% of the company’s stock.

PFE has been the topic of a number of recent research reports. BMO Capital Markets reiterated a “buy” rating and issued a $37.00 target price on shares of Pfizer in a research report on Wednesday, September 6th. Deutsche Bank set a $38.00 target price on Pfizer and gave the company a “buy” rating in a research report on Wednesday, October 11th. Barclays set a $38.00 target price on Pfizer and gave the company a “buy” rating in a research report on Wednesday, October 11th. ValuEngine upgraded Pfizer from a “hold” rating to a “buy” rating in a research report on Friday, October 6th. Finally, Zacks Investment Research upgraded 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. Two analysts have rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $38.77.

Shares of Pfizer Inc. (NYSE PFE) opened at $36.14 on Monday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.43 and a quick ratio of 1.15. Pfizer Inc. has a 52-week low of $30.90 and a 52-week high of $37.35. The company has a market capitalization of $215,420.00, a P/E ratio of 22.17, a price-to-earnings-growth ratio of 2.56 and a beta of 1.01.

Pfizer (NYSE:PFE) last released its quarterly earnings data on Tuesday, October 31st. The biopharmaceutical company reported $0.67 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.02. Pfizer had a return on equity of 25.41% and a net margin of 18.69%. The business had revenue of $13.17 billion for the quarter, compared to analyst estimates of $13.17 billion. During the same quarter in the prior year, the firm posted $0.61 EPS. The business’s quarterly revenue was up .9% compared to the same quarter last year. sell-side analysts forecast that Pfizer Inc. will post 2.59 earnings per share for the current year.

Pfizer declared that its Board of Directors has initiated a share repurchase plan on Monday, December 18th that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the biopharmaceutical company to buy shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Friday, February 2nd will be given a dividend of $0.34 per share. This is a positive change from Pfizer’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Thursday, February 1st. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.76%. Pfizer’s dividend payout ratio (DPR) is 78.53%.

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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).

Institutional Ownership by Quarter for Pfizer (NYSE:PFE)

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