Stock Yards Bank & Trust Co. reduced its stake in Pfizer Inc. (NYSE:PFE) by 3.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 119,777 shares of the biopharmaceutical company’s stock after selling 4,023 shares during the period. Stock Yards Bank & Trust Co.’s holdings in Pfizer were worth $4,276,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in shares of Pfizer by 2.3% in the 2nd quarter. Vanguard Group Inc. now owns 418,639,111 shares of the biopharmaceutical company’s stock worth $14,062,088,000 after buying an additional 9,239,499 shares in the last quarter. Franklin Resources Inc. grew its stake in shares of Pfizer by 0.9% in the 2nd quarter. Franklin Resources Inc. now owns 46,167,213 shares of the biopharmaceutical company’s stock worth $1,550,754,000 after buying an additional 389,629 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Pfizer by 4.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 44,286,544 shares of the biopharmaceutical company’s stock worth $1,487,617,000 after buying an additional 2,028,313 shares in the last quarter. Fisher Asset Management LLC grew its stake in shares of Pfizer by 3.2% in the 3rd quarter. Fisher Asset Management LLC now owns 35,120,799 shares of the biopharmaceutical company’s stock worth $1,253,813,000 after buying an additional 1,085,437 shares in the last quarter. Finally, LSV Asset Management grew its stake in shares of Pfizer by 0.6% in the 2nd quarter. LSV Asset Management now owns 33,275,572 shares of the biopharmaceutical company’s stock worth $1,117,726,000 after buying an additional 199,100 shares in the last quarter. Institutional investors own 69.75% of the company’s stock.
Shares of Pfizer Inc. (NYSE:PFE) opened at $36.33 on Thursday. Pfizer Inc. has a twelve month low of $30.90 and a twelve month high of $37.35. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.43 and a quick ratio of 1.15. The company has a market cap of $216,550.00, a PE ratio of 22.29, a PEG ratio of 2.55 and a beta of 1.01.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Friday, February 2nd will be issued a $0.34 dividend. The ex-dividend date is Thursday, February 1st. This represents a $1.36 annualized dividend and a dividend yield of 3.74%. This is a positive change from Pfizer’s previous quarterly dividend of $0.32. Pfizer’s payout ratio is currently 78.53%.
Pfizer declared that its board has approved a stock repurchase program on Monday, December 18th that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the biopharmaceutical company to reacquire shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.
PFE has been the subject of a number of recent research reports. BMO Capital Markets reissued a “buy” rating and issued a $37.00 price objective on shares of Pfizer in a research note on Wednesday, September 6th. Deutsche Bank set a $38.00 price objective on shares of Pfizer and gave the stock a “buy” rating in a research note on Wednesday, October 11th. Barclays set a $38.00 price objective on shares of Pfizer and gave the stock a “buy” rating in a research note on Wednesday, October 11th. ValuEngine raised shares of Pfizer from a “hold” rating to a “buy” rating in a research note on Friday, October 6th. Finally, Zacks Investment Research raised shares of Pfizer from a “hold” rating to a “buy” rating and set a $40.00 price target for the company in a research note on Tuesday, October 3rd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $38.77.
In related news, EVP Rady A. Johnson sold 8,000 shares of the business’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $37.07, for a total transaction of $296,560.00. Following the completion of the transaction, the executive vice president now owns 46,963 shares in the company, valued at approximately $1,740,918.41. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Alexander R. Mackenzie sold 14,700 shares of the business’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $35.30, for a total transaction of $518,910.00. Following the transaction, the insider now owns 117,432 shares of the company’s stock, valued at approximately $4,145,349.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 36,800 shares of company stock valued at $1,327,248. Company insiders own 0.06% of the company’s stock.
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Pfizer Company Profile
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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