Convergence Investment Partners LLC lifted its stake in shares of Pfizer, Inc. (NYSE:PFE) by 2.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 265,176 shares of the biopharmaceutical company’s stock after acquiring an additional 6,761 shares during the quarter. Pfizer accounts for 1.3% of Convergence Investment Partners LLC’s portfolio, making the stock its 3rd largest holding. Convergence Investment Partners LLC’s holdings in Pfizer were worth $8,907,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in PFE. Shine Investment Advisory Services Inc. purchased a new stake in shares of Pfizer in the second quarter valued at $102,000. D. Scott Neal Inc. lifted its holdings in shares of Pfizer by 19.3% in the second quarter. D. Scott Neal Inc. now owns 3,112 shares of the biopharmaceutical company’s stock valued at $105,000 after purchasing an additional 504 shares in the last quarter. Franklin Parlapiano Turner & Welch LLC purchased a new stake in shares of Pfizer in the first quarter valued at $121,000. Cascade Investment Advisors Inc. raised its holdings in shares of Pfizer by 89.1% during the second quarter. Cascade Investment Advisors Inc. now owns 4,669 shares of the biopharmaceutical company’s stock worth $157,000 after acquiring an additional 2,200 shares in the last quarter. Finally, Perennial Advisors LLC raised its holdings in shares of Pfizer by 7.9% during the second quarter. Perennial Advisors LLC now owns 5,132 shares of the biopharmaceutical company’s stock worth $172,000 after acquiring an additional 376 shares in the last quarter. 69.36% of the stock is owned by institutional investors and hedge funds.
PFE has been the subject of several recent research reports. BMO Capital Markets reiterated a “buy” rating and set a $37.00 price objective on shares of Pfizer in a report on Wednesday, September 6th. UBS AG reiterated a “buy” rating and set a $38.00 price objective on shares of Pfizer in a report on Monday, July 31st. Cowen and Company set a $43.00 price objective on Pfizer and gave the stock a “buy” rating in a report on Monday, August 14th. Sanford C. Bernstein set a $39.00 price objective on Pfizer and gave the stock a “buy” rating in a report on Tuesday, September 19th. Finally, Zacks Investment Research upgraded Pfizer from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a report on Tuesday, October 3rd. Two analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $38.48.
Shares of Pfizer, Inc. (NYSE:PFE) opened at $35.38 on Wednesday. The stock has a market capitalization of $210,412.95, a PE ratio of 14.12, a PEG ratio of 2.50 and a beta of 1.01. Pfizer, Inc. has a 1 year low of $30.51 and a 1 year high of $36.78. 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 (NYSE:PFE) last released its earnings results on Tuesday, October 31st. The biopharmaceutical company reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.02. Pfizer had a return on equity of 25.41% and a net margin of 18.69%. The business had revenue of $13.17 billion for the quarter, compared to the consensus estimate of $13.17 billion. During the same period last year, the business earned $0.61 earnings per share. The firm’s revenue for the quarter was up .9% compared to the same quarter last year. sell-side analysts predict that Pfizer, Inc. will post 2.6 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Friday, November 10th will be given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 3.62%. The ex-dividend date is Thursday, November 9th. Pfizer’s dividend payout ratio (DPR) is presently 79.01%.
In related news, EVP Alexander R. Mackenzie sold 7,350 shares of Pfizer stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $35.65, for a total transaction of $262,027.50. Following the sale, the executive vice president now directly owns 117,432 shares of the company’s stock, valued at $4,186,450.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Laurie J. Olson sold 8,064 shares of Pfizer stock in a transaction dated Monday, August 21st. The stock was sold at an average price of $32.70, for a total value of $263,692.80. Following the sale, the insider now directly owns 74,506 shares in the company, valued at $2,436,346.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 374,621 shares of company stock worth $12,796,098. 0.06% of the stock is owned by company insiders.
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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