First Quadrant L P CA reduced its position in shares of Pfizer Inc. (NYSE:PFE) by 2.6% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 200,264 shares of the biopharmaceutical company’s stock after selling 5,410 shares during the quarter. First Quadrant L P CA’s holdings in Pfizer were worth $7,149,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of PFE. Shine Investment Advisory Services Inc. acquired a new stake in shares of Pfizer during the 2nd quarter valued at $102,000. Mckinley Capital Management LLC Delaware acquired a new stake in shares of Pfizer during the 2nd quarter valued at $103,000. D. Scott Neal Inc. lifted its position in shares of Pfizer by 19.3% during the 2nd quarter. D. Scott Neal Inc. now owns 3,112 shares of the biopharmaceutical company’s stock valued at $105,000 after acquiring an additional 504 shares during the last quarter. Herndon Capital Management LLC acquired a new stake in shares of Pfizer during the 2nd quarter valued at $120,000. Finally, Lipe & Dalton lifted its position in shares of Pfizer by 6.9% during the 2nd quarter. Lipe & Dalton now owns 4,626 shares of the biopharmaceutical company’s stock valued at $155,000 after acquiring an additional 300 shares during the last quarter. 69.75% of the stock is owned by hedge funds and other institutional investors.
Shares of Pfizer Inc. (PFE) opened at $36.22 on Monday. The company has a current ratio of 1.43, a quick ratio of 1.15 and a debt-to-equity ratio of 0.56. Pfizer Inc. has a 1-year low of $30.90 and a 1-year high of $37.35. The stock has a market capitalization of $215,896.81, a price-to-earnings ratio of 22.36, a P/E/G ratio of 2.56 and a beta of 1.01.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Friday, February 2nd will be issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 3.75%. 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. Pfizer’s dividend payout ratio (DPR) is currently 79.01%.
Pfizer declared that its board has approved a stock buyback program on Monday, December 18th that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the biopharmaceutical company to repurchase shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.
A number of brokerages have recently commented on PFE. ValuEngine upgraded Pfizer from a “hold” rating to a “buy” rating in a research report on Friday, October 6th. JPMorgan Chase & Co. set a $39.00 price objective on Pfizer and gave the company a “buy” rating in a research report on Wednesday, November 1st. Jefferies Group set a $39.00 price objective on Pfizer and gave the company a “neutral” rating in a research report on Thursday, November 16th. Berenberg Bank set a $36.00 price objective on Pfizer and gave the company a “neutral” rating in a research report on Tuesday, October 31st. Finally, Morgan Stanley upgraded Pfizer from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $35.00 to $39.00 in a research report on Wednesday, September 20th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the stock. Pfizer presently has a consensus rating of “Buy” and a consensus price target of $38.77.
In other Pfizer news, insider Alexander R. Mackenzie sold 6,750 shares of the stock in a transaction on Friday, December 15th. The shares were sold at an average price of $37.00, for a total transaction of $249,750.00. Following the transaction, the insider now directly owns 103,458 shares of the company’s stock, valued at $3,827,946. The transaction was disclosed in a document filed 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 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 directly owns 117,432 shares in the company, valued at $4,145,349.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 29,450 shares of company stock valued at $1,065,220. 0.06% of the stock is owned by corporate insiders.
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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