West Chester Capital Advisors Inc. grew its stake in shares of Pfizer Inc. (NYSE:PFE) by 10.4% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,079 shares of the biopharmaceutical company’s stock after acquiring an additional 1,234 shares during the period. West Chester Capital Advisors Inc.’s holdings in Pfizer were worth $576,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of PFE. Ridgewood Investments LLC acquired a new stake in Pfizer in the second quarter valued at approximately $251,000. Perpetual Ltd grew its holdings in Pfizer by 5.9% during the 2nd quarter. Perpetual Ltd now owns 86,223 shares of the biopharmaceutical company’s stock valued at $3,134,000 after buying an additional 4,800 shares during the last quarter. Naples Global Advisors LLC raised its position in Pfizer by 5.4% in the second quarter. Naples Global Advisors LLC now owns 33,695 shares of the biopharmaceutical company’s stock valued at $1,222,000 after purchasing an additional 1,712 shares during the period. Greystone Managed Investments Inc. grew its stake in Pfizer by 1.4% in the second quarter. Greystone Managed Investments Inc. now owns 367,276 shares of the biopharmaceutical company’s stock worth $13,325,000 after purchasing an additional 5,246 shares in the last quarter. Finally, NewSquare Capital LLC raised its holdings in shares of Pfizer by 13.7% during the second quarter. NewSquare Capital LLC now owns 47,593 shares of the biopharmaceutical company’s stock valued at $1,777,000 after buying an additional 5,751 shares during the last quarter. 69.21% of the stock is currently owned by institutional investors and hedge funds.
Shares of PFE stock opened at $42.47 on Friday. Pfizer Inc. has a 12-month low of $33.20 and a 12-month high of $46.47. The company has a market capitalization of $250.68 billion, a P/E ratio of 16.03, a price-to-earnings-growth ratio of 2.04 and a beta of 0.87. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.43 and a quick ratio of 1.15.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 1st. Stockholders of record on Friday, February 1st will be paid a $0.36 dividend. This is a positive change from Pfizer’s previous quarterly dividend of $0.34. This represents a $1.44 annualized dividend and a dividend yield of 3.39%. The ex-dividend date of this dividend is Thursday, January 31st. Pfizer’s dividend payout ratio is currently 51.32%.
Pfizer announced that its Board of Directors has initiated a stock buyback program on Friday, December 14th that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the biopharmaceutical company to repurchase up to 3.8% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.
PFE has been the subject of a number of analyst reports. Cantor Fitzgerald set a $45.00 price target on shares of Pfizer and gave the stock a “buy” rating in a research note on Wednesday, September 26th. Barclays reissued a “neutral” rating and set a $40.00 price target on shares of Pfizer in a research report on Wednesday, September 26th. Morningstar set a $46.00 target price on shares of Pfizer and gave the stock a “buy” rating in a research note on Thursday, September 27th. JPMorgan Chase & Co. set a $46.00 price target on shares of Pfizer and gave the stock a “buy” rating in a research note on Monday, October 1st. Finally, Independent Research set a $48.00 price target on shares of Pfizer and gave the company a “neutral” rating in a research report on Thursday, October 4th. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and eight have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $43.67.
Pfizer Company Profile
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.
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