Beacon Investment Advisory Services Inc. boosted its stake in shares of Pfizer Inc. (NYSE:PFE) by 7.2% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 208,591 shares of the biopharmaceutical company’s stock after buying an additional 14,026 shares during the period. Beacon Investment Advisory Services Inc.’s holdings in Pfizer were worth $7,568,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. W.G. Shaheen & Associates DBA Whitney & Co bought a new stake in shares of Pfizer in the 1st quarter worth $132,000. Braun Bostich & Associates Inc. bought a new stake in shares of Pfizer in the 1st quarter worth $139,000. Clearwater Capital Advisors LLC bought a new stake in shares of Pfizer in the 1st quarter worth $156,000. Goodwin Daniel L bought a new stake in shares of Pfizer in the 2nd quarter worth $171,000. Finally, Bristol John W & Co. Inc. NY bought a new stake in shares of Pfizer in the 1st quarter worth $186,000. 68.96% of the stock is owned by institutional investors.
A number of analysts have commented on the company. Cantor Fitzgerald set a $53.00 target price on Pfizer and gave the stock a “buy” rating in a report on Thursday. Goldman Sachs Group reissued a “neutral” rating and issued a $42.00 target price on shares of Pfizer in a report on Wednesday, August 1st. JPMorgan Chase & Co. reissued a “buy” rating on shares of Pfizer in a report on Tuesday, July 31st. Zacks Investment Research lowered Pfizer from a “buy” rating to a “hold” rating in a report on Monday, August 6th. Finally, Deutsche Bank set a $45.00 target price on Pfizer and gave the stock a “buy” rating in a report on Tuesday, August 21st. Two investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eight have assigned a buy rating to the stock. Pfizer presently has a consensus rating of “Hold” and an average price target of $42.67.
Pfizer (NYSE:PFE) last released its quarterly earnings results on Tuesday, October 30th. The biopharmaceutical company reported $0.78 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.75 by $0.03. The firm had revenue of $13.30 billion for the quarter, compared to the consensus estimate of $13.53 billion. Pfizer had a return on equity of 25.34% and a net margin of 44.63%. The company’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same period last year, the business posted $0.67 EPS. On average, equities research analysts expect that Pfizer Inc. will post 3 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, December 3rd. Investors of record on Friday, November 9th will be given a dividend of $0.34 per share. The ex-dividend date of this dividend is Thursday, November 8th. This represents a $1.36 annualized dividend and a yield of 3.10%. Pfizer’s dividend payout ratio (DPR) is presently 51.32%.
In related news, major shareholder Pfizer Inc bought 55,556 shares of the stock in a transaction that occurred on Monday, October 15th. The shares were bought at an average cost of $18.00 per share, for a total transaction of $1,000,008.00. Following the completion of the transaction, the insider now owns 21,976,484 shares of the company’s stock, valued at $395,576,712. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Laurie J. Olson sold 10,214 shares of Pfizer stock in a transaction on Monday, August 13th. The shares were sold at an average price of $41.00, for a total value of $418,774.00. Following the transaction, the insider now owns 72,672 shares in the company, valued at $2,979,552. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by insiders.
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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