Granite Investment Advisors LLC Cuts Stake in Pfizer Inc. (PFE)

Granite Investment Advisors LLC cut its position in Pfizer Inc. (NYSE:PFE) by 10.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 13,672 shares of the biopharmaceutical company’s stock after selling 1,651 shares during the period. Granite Investment Advisors LLC’s holdings in Pfizer were worth $496,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the company. ACG Wealth increased its holdings in shares of Pfizer by 9.1% in the second quarter. ACG Wealth now owns 31,322 shares of the biopharmaceutical company’s stock valued at $1,136,000 after purchasing an additional 2,614 shares during the period. Klingenstein Fields & Co. LLC increased its holdings in shares of Pfizer by 1.5% in the second quarter. Klingenstein Fields & Co. LLC now owns 330,485 shares of the biopharmaceutical company’s stock valued at $11,990,000 after purchasing an additional 4,973 shares during the period. Ironvine Capital Partners LLC increased its holdings in shares of Pfizer by 59.0% in the second quarter. Ironvine Capital Partners LLC now owns 56,632 shares of the biopharmaceutical company’s stock valued at $2,055,000 after purchasing an additional 21,010 shares during the period. First Merchants Corp increased its holdings in shares of Pfizer by 6.4% in the second quarter. First Merchants Corp now owns 101,909 shares of the biopharmaceutical company’s stock valued at $3,697,000 after purchasing an additional 6,124 shares during the period. Finally, First Mercantile Trust Co. increased its holdings in shares of Pfizer by 19.4% in the second quarter. First Mercantile Trust Co. now owns 47,700 shares of the biopharmaceutical company’s stock valued at $1,731,000 after purchasing an additional 7,740 shares during the period. 68.91% of the stock is currently owned by institutional investors and hedge funds.

A number of brokerages have recently weighed in on PFE. Cantor Fitzgerald set a $45.00 price objective on Pfizer and gave the company a “buy” rating in a report on Wednesday. Barclays reissued a “neutral” rating and issued a $40.00 price objective on shares of Pfizer in a report on Wednesday. Morningstar set a $46.00 target price on Pfizer and gave the stock a “buy” rating in a report on Thursday. Morgan Stanley set a $45.00 target price on Pfizer and gave the stock a “buy” rating in a report on Thursday, September 13th. Finally, JPMorgan Chase & Co. set a $42.00 target price on Pfizer and gave the stock a “buy” rating in a report on Monday, September 10th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and nine have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $41.89.

Pfizer stock opened at $43.90 on Friday. The stock has a market cap of $260.68 billion, a P/E ratio of 16.57, a P/E/G ratio of 2.21 and a beta of 0.96. Pfizer Inc. has a 52 week low of $33.20 and a 52 week high of $44.46. The company has a current ratio of 1.16, a quick ratio of 0.91 and a debt-to-equity ratio of 0.41.

Pfizer (NYSE:PFE) last issued its quarterly earnings results on Tuesday, July 31st. The biopharmaceutical company reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.07. The company had revenue of $13.47 billion for the quarter, compared to the consensus estimate of $13.30 billion. Pfizer had a return on equity of 25.35% and a net margin of 42.35%. Pfizer’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.67 earnings per share. research analysts anticipate that Pfizer Inc. will post 2.99 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 3rd. Shareholders of record on Friday, November 9th will be given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 3.10%. Pfizer’s dividend payout ratio is currently 51.32%.

In other Pfizer news, insider Laurie J. Olson sold 10,214 shares of the stock in a transaction that occurred on Monday, August 13th. The stock was sold at an average price of $41.00, for a total transaction of $418,774.00. Following the transaction, the insider now owns 72,672 shares in the company, valued at $2,979,552. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ian C. Read sold 486,753 shares of the stock in a transaction that occurred on Monday, July 16th. The stock was sold at an average price of $37.36, for a total value of $18,185,092.08. Following the transaction, the chief executive officer now owns 1,145,693 shares in the company, valued at approximately $42,803,090.48. The disclosure for this sale can be found here. Insiders have sold 761,230 shares of company stock worth $29,054,690 in the last quarter. 0.06% of the stock is currently owned by company insiders.

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.

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Institutional Ownership by Quarter for Pfizer (NYSE:PFE)

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