Berkshire Asset Management LLC PA Has $19.90 Million Position in Pfizer Inc. (PFE)

Berkshire Asset Management LLC PA cut its position in shares of Pfizer Inc. (NYSE:PFE) by 0.9% during the 3rd quarter, Holdings Channel reports. The firm owned 557,526 shares of the biopharmaceutical company’s stock after selling 4,990 shares during the quarter. Pfizer makes up approximately 2.2% of Berkshire Asset Management LLC PA’s holdings, making the stock its 13th largest holding. Berkshire Asset Management LLC PA’s holdings in Pfizer were worth $19,904,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Shine Investment Advisory Services Inc. purchased a new position in Pfizer during the second quarter worth about $102,000. Mckinley Capital Management LLC Delaware purchased a new position in Pfizer in the second quarter valued at about $103,000. D. Scott Neal Inc. boosted its stake in Pfizer by 19.3% in the second 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 purchased a new position in Pfizer in the second quarter valued at about $120,000. Finally, Lipe & Dalton boosted its stake in Pfizer by 6.9% in the second 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. Institutional investors and hedge funds own 69.74% of the company’s stock.

Shares of Pfizer Inc. (NYSE:PFE) opened at $36.47 on Thursday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.15 and a current ratio of 1.43. The firm has a market cap of $217,390.00, a P/E ratio of 22.37, a P/E/G ratio of 2.46 and a beta of 1.01. Pfizer Inc. has a twelve month low of $30.90 and a twelve month high of $37.35.

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

The company also recently announced 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 dividend on an annualized basis and a yield of 3.73%. The ex-dividend date is Thursday, February 1st. This is a positive change from Pfizer’s previous quarterly dividend of $0.32. Pfizer’s dividend payout ratio is 78.53%.

Pfizer announced that its board has authorized a share buyback program on Monday, December 18th that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the biopharmaceutical company to reacquire shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

A number of research analysts have weighed in on PFE shares. BMO Capital Markets set a $37.00 target price on shares of Pfizer and gave the company a “buy” rating in a research note on Tuesday, October 10th. ValuEngine upgraded shares of Pfizer from a “hold” rating to a “buy” rating in a research note on Friday, October 6th. Zacks Investment Research cut shares of Pfizer from a “buy” rating to a “hold” rating in a research note on Wednesday, October 11th. Deutsche Bank set a $38.00 target price on shares of Pfizer and gave the company a “buy” rating in a research note on Wednesday, October 11th. Finally, Morgan Stanley upgraded shares of Pfizer from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $35.00 to $39.00 in a research note on Wednesday, September 20th. Two 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 $38.83.

In related news, EVP Rady A. Johnson sold 8,000 shares of the company’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 sale, the executive vice president now owns 46,963 shares of the company’s stock, valued at approximately $1,740,918.41. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Alexander R. Mackenzie sold 6,750 shares of the company’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $37.00, for a total transaction of $249,750.00. Following the sale, the insider now directly owns 103,458 shares in the company, valued at approximately $3,827,946. The disclosure for this sale can be found here. Insiders have sold a total of 29,450 shares of company stock worth $1,065,220 in the last ninety days. 0.06% of the stock is currently owned by insiders.

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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).

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Institutional Ownership by Quarter for Pfizer (NYSE:PFE)

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