Ballentine Partners LLC trimmed its position in shares of Pfizer Inc. (NYSE:PFE) by 12.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 105,970 shares of the biopharmaceutical company’s stock after selling 15,739 shares during the quarter. Ballentine Partners LLC’s holdings in Pfizer were worth $3,889,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. Corbett Road Capital Management LLC bought a new stake in shares of Pfizer in the second quarter worth $25,000. Reitz Capital Advisors LLC bought a new stake in shares of Pfizer in the 2nd quarter valued at about $29,000. Rocky Mountain Advisers LLC increased its stake in shares of Pfizer by 847.5% in the second quarter. Rocky Mountain Advisers LLC now owns 1,118 shares of the biopharmaceutical company’s stock valued at $37,000 after buying an additional 1,000 shares during the period. JJJ Advisors Inc. bought a new position in shares of Pfizer during the second quarter worth about $44,000. Finally, Lenox Wealth Management Inc. lifted its stake in shares of Pfizer by 22.5% in the second quarter. Lenox Wealth Management Inc. now owns 2,029 shares of the biopharmaceutical company’s stock worth $66,000 after acquiring an additional 372 shares during the period. Institutional investors own 69.08% of the company’s stock.
PFE has been the subject of several analyst reports. Berenberg Bank assumed coverage on shares of Pfizer in a report on Tuesday, September 29th. They set a “hold” rating and a $38.00 price target for the company. Royal Bank of Canada set a $43.00 target price on shares of Pfizer and gave the stock a “buy” rating in a research note on Friday, October 16th. Mizuho reaffirmed a “buy” rating and set a $43.00 price target on shares of Pfizer in a research report on Tuesday, September 15th. Truist initiated coverage on Pfizer in a research report on Friday. They issued a “buy” rating and a $42.00 price objective for the company. Finally, Morgan Stanley upped their target price on Pfizer from $36.00 to $42.00 and gave the company an “equal weight” rating in a research report on Thursday, July 30th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $39.81.
Pfizer (NYSE:PFE) last released its quarterly earnings data on Tuesday, July 28th. The biopharmaceutical company reported $0.78 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.64 by $0.14. The firm had revenue of $11.80 billion for the quarter, compared to the consensus estimate of $11.55 billion. Pfizer had a net margin of 28.80% and a return on equity of 25.11%. The business’s revenue was down 11.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.80 earnings per share. On average, equities analysts forecast that Pfizer Inc. will post 2.84 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Friday, November 6th will be issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 3.98%. The ex-dividend date of this dividend is Thursday, November 5th. Pfizer’s dividend payout ratio is currently 51.53%.
In related news, Director Ronald E. Blaylock bought 13,000 shares of the company’s stock in a transaction dated Thursday, August 6th. The shares were bought at an average price of $38.55 per share, for a total transaction of $501,150.00. Following the completion of the acquisition, the director now directly owns 4,000 shares of the company’s stock, valued at $154,200. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.08% of the company’s stock.
Pfizer Company Profile
Pfizer Inc discovers, develops, manufactures, and sells healthcare products worldwide. It offers medicines and vaccines in various therapeutic areas, including internal medicine, vaccines, oncology, inflammation and immunology, and rare diseases under the Lyrica, Chantix/Champix, Eliquis, Ibrance, Sutent, Xalkori, Inlyta, Xtandi, Enbrel, Xeljanz, Eucrisa, BeneFix, Genotropin, and Refacto AF/Xyntha brands.
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