A. D. Beadell Investment Counsel Inc. cut its stake in shares of Pfizer Inc. (NYSE:PFE) by 10.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 50,012 shares of the biopharmaceutical company’s stock after selling 5,850 shares during the quarter. Pfizer comprises approximately 1.5% of A. D. Beadell Investment Counsel Inc.’s investment portfolio, making the stock its 23rd biggest holding. A. D. Beadell Investment Counsel Inc.’s holdings in Pfizer were worth $1,785,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Altfest L J & Co. Inc. lifted its position in Pfizer by 67.0% during the second quarter. Altfest L J & Co. Inc. now owns 107,278 shares of the biopharmaceutical company’s stock valued at $3,603,000 after purchasing an additional 43,024 shares during the period. HL Financial Services LLC lifted its position in Pfizer by 1.1% during the second quarter. HL Financial Services LLC now owns 3,222,985 shares of the biopharmaceutical company’s stock valued at $108,260,000 after purchasing an additional 35,744 shares during the period. Sphera Funds Management LTD. acquired a new position in Pfizer during the first quarter valued at $13,342,000. Hartford Financial Management Inc. lifted its position in Pfizer by 10.8% during the second quarter. Hartford Financial Management Inc. now owns 8,538 shares of the biopharmaceutical company’s stock valued at $286,000 after purchasing an additional 835 shares during the period. Finally, Cadence Bank NA lifted its position in Pfizer by 1.4% during the second quarter. Cadence Bank NA now owns 99,962 shares of the biopharmaceutical company’s stock valued at $3,358,000 after purchasing an additional 1,428 shares during the period. 69.75% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts recently issued reports on the stock. Nord/LB restated a “neutral” rating on shares of Pfizer in a research report on Wednesday. BMO Capital Markets set a $39.00 target price on shares of Pfizer and gave the company a “buy” rating in a research report on Friday, December 15th. UBS Group set a $40.00 target price on shares of Pfizer and gave the company a “buy” rating in a research report on Wednesday, December 6th. Deutsche Bank set a $38.00 price objective on shares of Pfizer and gave the stock a “buy” rating in a research report on Wednesday, December 6th. Finally, Vetr upgraded shares of Pfizer from a “hold” rating to a “buy” rating and set a $38.82 price objective for the company in a research report on Thursday, November 23rd. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $38.77.
Pfizer (NYSE:PFE) last issued its quarterly earnings data on Tuesday, October 31st. The biopharmaceutical company reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.02. The business had revenue of $13.17 billion during the quarter, compared to the consensus estimate of $13.17 billion. Pfizer had a net margin of 18.69% and a return on equity of 25.41%. The company’s revenue was up .9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.61 earnings per share. sell-side analysts expect that Pfizer Inc. will post 2.59 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Friday, February 2nd will be paid a dividend of $0.34 per share. 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 3.75%. This is a boost from Pfizer’s previous quarterly dividend of $0.32. Pfizer’s payout ratio is currently 79.01%.
Pfizer announced that its board has approved a share repurchase program on Monday, December 18th that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the biopharmaceutical company to reacquire shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.
In other news, insider Alexander R. Mackenzie sold 6,750 shares of the business’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $37.00, for a total transaction of $249,750.00. Following the completion of the sale, the insider now owns 103,458 shares of the company’s stock, valued at $3,827,946. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Rady A. Johnson sold 8,000 shares of the business’s stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $37.07, for a total transaction of $296,560.00. Following the sale, the executive vice president now directly owns 46,963 shares of the company’s stock, valued at approximately $1,740,918.41. The disclosure for this sale can be found here. Insiders have sold 36,800 shares of company stock valued at $1,327,248 in the last three months. Corporate insiders own 0.06% of the company’s stock.
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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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