First Merchants Corp Has $3.37 Million Stake in Pfizer Inc. (PFE)

First Merchants Corp increased its position in Pfizer Inc. (NYSE:PFE) by 20.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 94,354 shares of the biopharmaceutical company’s stock after purchasing an additional 15,741 shares during the quarter. First Merchants Corp’s holdings in Pfizer were worth $3,369,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in PFE. Northstar Group Inc. boosted its stake in Pfizer by 0.4% during the 2nd quarter. Northstar Group Inc. now owns 8,602 shares of the biopharmaceutical company’s stock valued at $289,000 after acquiring an additional 35 shares during the last quarter. Peregrine Asset Advisers Inc. boosted its stake in Pfizer by 0.5% during the 2nd quarter. Peregrine Asset Advisers Inc. now owns 7,354 shares of the biopharmaceutical company’s stock valued at $247,000 after acquiring an additional 35 shares during the last quarter. Northwest Quadrant Wealth Management LLC boosted its stake in Pfizer by 0.8% during the 2nd quarter. Northwest Quadrant Wealth Management LLC now owns 6,329 shares of the biopharmaceutical company’s stock valued at $211,000 after acquiring an additional 50 shares during the last quarter. River Wealth Advisors LLC boosted its stake in Pfizer by 0.3% during the 2nd quarter. River Wealth Advisors LLC now owns 15,818 shares of the biopharmaceutical company’s stock valued at $531,000 after acquiring an additional 55 shares during the last quarter. Finally, Meridian Wealth Management LLC boosted its stake in Pfizer by 0.5% during the 2nd quarter. Meridian Wealth Management LLC now owns 11,966 shares of the biopharmaceutical company’s stock valued at $402,000 after acquiring an additional 57 shares during the last quarter. Institutional investors and hedge funds own 69.74% of the company’s stock.

A number of brokerages have weighed in on PFE. Vetr cut shares of Pfizer from a “buy” rating to a “hold” rating and set a $37.98 target price on the stock. in a report on Monday. BMO Capital Markets set a $39.00 target price on shares of Pfizer and gave the stock a “buy” rating in a report on Monday, January 8th. Jefferies Group set a $38.00 target price on shares of Pfizer and gave the stock a “neutral” rating in a report on Monday, October 16th. Morgan Stanley set a $41.00 target price on shares of Pfizer and gave the stock a “buy” rating in a report on Friday, January 5th. Finally, Nord/LB reissued a “neutral” rating on shares of Pfizer in a report on Tuesday, January 2nd. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $38.83.

Shares of Pfizer Inc. (PFE) opened at $36.54 on Friday. 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 twelve month low of $30.90 and a twelve month high of $37.35. The firm has a market cap of $217,800.00, a PE ratio of 22.42, a P/E/G ratio of 2.46 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 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.65 by $0.02. Pfizer had a net margin of 18.69% and a return on equity of 25.41%. The business had revenue of $13.17 billion for the quarter, compared to analysts’ expectations of $13.17 billion. During the same quarter last year, the company earned $0.61 EPS. The company’s revenue for the quarter was up .9% compared to the same quarter last year. analysts expect that Pfizer Inc. will post 2.59 earnings per share for the current year.

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 $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.72%. The ex-dividend date is Thursday, February 1st. This is a boost from Pfizer’s previous quarterly dividend of $0.32. Pfizer’s dividend payout ratio (DPR) is 78.53%.

Pfizer declared that its board has approved a stock buyback plan on Monday, December 18th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the biopharmaceutical company to reacquire shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

In other Pfizer news, insider Alexander R. Mackenzie sold 14,700 shares of the firm’s stock in a transaction dated Wednesday, November 1st. The shares were 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Rady A. Johnson sold 8,000 shares of the firm’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $37.07, for a total transaction of $296,560.00. Following the transaction, the executive vice president now directly owns 46,963 shares in the company, valued at approximately $1,740,918.41. The disclosure for this sale can be found here. In the last ninety days, insiders sold 29,450 shares of company stock worth $1,065,220. Corporate 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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Institutional Ownership by Quarter for Pfizer (NYSE:PFE)

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