Blue Granite Capital LLC trimmed its position in shares of Pfizer Inc. (NYSE:PFE) by 55.9% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 52,536 shares of the biopharmaceutical company’s stock after selling 66,664 shares during the period. Pfizer makes up approximately 1.3% of Blue Granite Capital LLC’s investment portfolio, making the stock its 26th largest position. Blue Granite Capital LLC’s holdings in Pfizer were worth $1,877,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in the business. Janus Henderson Group PLC boosted its stake in shares of Pfizer by 243.5% in the 2nd quarter. Janus Henderson Group PLC now owns 13,175,187 shares of the biopharmaceutical company’s stock valued at $442,574,000 after purchasing an additional 9,339,749 shares in the last quarter. Vanguard Group Inc. boosted 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 valued at $14,062,088,000 after purchasing an additional 9,239,499 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Pfizer in the 2nd quarter valued at approximately $268,389,000. Canada Pension Plan Investment Board boosted its stake in shares of Pfizer by 249.6% in the 2nd quarter. Canada Pension Plan Investment Board now owns 10,713,626 shares of the biopharmaceutical company’s stock valued at $359,871,000 after purchasing an additional 7,649,416 shares in the last quarter. Finally, Longview Partners Guernsey LTD boosted its stake in shares of Pfizer by 32.0% in the 3rd quarter. Longview Partners Guernsey LTD now owns 24,369,672 shares of the biopharmaceutical company’s stock valued at $869,997,000 after purchasing an additional 5,901,100 shares in the last quarter. Hedge funds and other institutional investors own 69.74% of the company’s stock.
Shares of Pfizer Inc. (NYSE:PFE) opened at $36.54 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 company has a market cap of $217,800.00, a P/E ratio of 22.42, a P/E/G ratio of 2.44 and a beta of 1.01.
Pfizer declared that its board has initiated 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 board believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Friday, February 2nd will be given a dividend of $0.34 per share. The ex-dividend date is Thursday, February 1st. This is an increase from Pfizer’s previous quarterly dividend of $0.32. This represents a $1.36 annualized dividend and a yield of 3.72%. Pfizer’s dividend payout ratio (DPR) is currently 78.53%.
In other Pfizer news, insider Alexander R. Mackenzie sold 14,700 shares of the firm’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $35.30, for a total transaction of $518,910.00. Following the completion of the transaction, the insider now owns 117,432 shares in the company, valued at approximately $4,145,349.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Rady A. Johnson sold 8,000 shares of the firm’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $37.07, for a total transaction of $296,560.00. Following the transaction, the executive vice president now 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. Over the last quarter, insiders have sold 29,450 shares of company stock worth $1,065,220. 0.06% of the stock is owned by corporate insiders.
A number of equities research analysts have recently weighed in on PFE shares. BMO Capital Markets restated a “buy” rating and issued a $39.00 price target (up from $37.00) on shares of Pfizer in a research note on Thursday, October 19th. Barclays set a $38.00 price target on shares of Pfizer and gave the company a “buy” rating in a research note on Wednesday, October 11th. ValuEngine upgraded shares of Pfizer from a “hold” rating to a “buy” rating in a research note on Friday, October 6th. Zacks Investment Research upgraded shares of Pfizer from a “hold” rating to a “buy” rating and set a $40.00 price target on the stock in a research note on Tuesday, October 3rd. Finally, Sanford C. Bernstein set a $39.00 price target on shares of Pfizer and gave the company a “buy” rating in a research note on Tuesday, September 19th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $38.83.
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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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