Pfizer Inc. (PFE) Stake Decreased by Tower Bridge Advisors

Tower Bridge Advisors cut its position in shares of Pfizer Inc. (NYSE:PFE) by 2.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 201,917 shares of the biopharmaceutical company’s stock after selling 5,739 shares during the period. Tower Bridge Advisors’ holdings in Pfizer were worth $7,166,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Lee Danner & Bass Inc. boosted its stake in Pfizer by 2.5% during the first quarter. Lee Danner & Bass Inc. now owns 169,783 shares of the biopharmaceutical company’s stock valued at $6,026,000 after buying an additional 4,199 shares during the last quarter. FTB Advisors Inc. raised its position in Pfizer by 1.9% during the first quarter. FTB Advisors Inc. now owns 172,544 shares of the biopharmaceutical company’s stock valued at $6,162,000 after purchasing an additional 3,167 shares during the period. Hennessy Advisors Inc. raised its position in Pfizer by 1.1% during the first quarter. Hennessy Advisors Inc. now owns 320,752 shares of the biopharmaceutical company’s stock valued at $11,383,000 after purchasing an additional 3,452 shares during the period. Albert D Mason Inc. purchased a new stake in Pfizer during the first quarter valued at approximately $298,000. Finally, OLD Dominion Capital Management Inc. raised its position in Pfizer by 55.4% during the first quarter. OLD Dominion Capital Management Inc. now owns 9,295 shares of the biopharmaceutical company’s stock valued at $330,000 after purchasing an additional 3,315 shares during the period. 69.43% of the stock is owned by institutional investors.

PFE has been the topic of a number of recent research reports. Jefferies Financial Group set a $39.00 price objective on Pfizer and gave the company a “hold” rating in a research report on Monday, February 26th. BMO Capital Markets set a $43.00 price objective on Pfizer and gave the company a “buy” rating in a research report on Tuesday, March 6th. Barclays downgraded Pfizer from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $41.00 to $38.00 in a research report on Thursday, April 5th. Zacks Investment Research downgraded Pfizer from a “buy” rating to a “hold” rating in a research report on Friday, April 6th. Finally, Berenberg Bank restated a “neutral” rating and set a $37.00 price objective on shares of Pfizer in a research report on Wednesday, April 11th. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and ten have given a buy rating to the company’s stock. Pfizer presently has a consensus rating of “Hold” and an average price target of $40.27.

In other Pfizer news, Director W Don Cornwell sold 5,223 shares of the firm’s stock in a transaction on Monday, June 4th. The stock was sold at an average price of $36.40, for a total transaction of $190,117.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Ian C. Read sold 132,312 shares of the firm’s stock in a transaction on Tuesday, May 1st. The stock was sold at an average price of $36.01, for a total value of $4,764,555.12. The disclosure for this sale can be found here. Over the last quarter, insiders sold 156,535 shares of company stock worth $5,647,222. Company insiders own 0.06% of the company’s stock.

Shares of Pfizer opened at $36.36 on Monday, according to Marketbeat.com. The company has a current ratio of 1.27, a quick ratio of 0.98 and a debt-to-equity ratio of 0.45. Pfizer Inc. has a fifty-two week low of $32.32 and a fifty-two week high of $39.43. The company has a market capitalization of $216.45 billion, a PE ratio of 13.72, a price-to-earnings-growth ratio of 1.81 and a beta of 0.91.

Pfizer (NYSE:PFE) last issued its quarterly earnings results on Tuesday, May 1st. The biopharmaceutical company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.03. Pfizer had a return on equity of 25.29% and a net margin of 41.29%. The firm had revenue of $12.91 billion for the quarter, compared to the consensus estimate of $13.14 billion. During the same period in the prior year, the business posted $0.69 earnings per share. The company’s revenue for the quarter was up 1.0% on a year-over-year basis. equities research analysts anticipate that Pfizer Inc. will post 2.96 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, June 1st. Stockholders of record on Friday, May 11th were issued a $0.34 dividend. The ex-dividend date was Thursday, May 10th. This represents a $1.36 annualized dividend and a dividend yield of 3.74%. Pfizer’s payout ratio is 51.32%.

About Pfizer

Pfizer Inc discovers, develops, manufactures, and sells healthcare products worldwide. It operates in two segments, Pfizer Innovative Health (IH) and Pfizer Essential Health (EH). The IH segment focuses on the development and commercialization of medicines and vaccines, and consumer healthcare products in various therapeutic areas, including internal medicine, vaccines, oncology, inflammation and immunology, and rare diseases, as well as consumer healthcare, such as over-the-counter brands comprising dietary supplements, pain management, gastrointestinal, and respiratory and personal care.

Institutional Ownership by Quarter for Pfizer (NYSE:PFE)

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