Banco de Sabadell S.A raised its stake in Pfizer Inc. (NYSE:PFE) by 24.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 342,954 shares of the biopharmaceutical company’s stock after purchasing an additional 67,149 shares during the quarter. Pfizer accounts for about 1.7% of Banco de Sabadell S.A’s portfolio, making the stock its 7th biggest position. Banco de Sabadell S.A’s holdings in Pfizer were worth $15,086,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors also recently modified their holdings of PFE. Fort L.P. purchased a new stake in shares of Pfizer during the second quarter valued at approximately $121,000. Selective Wealth Management purchased a new stake in shares of Pfizer during the third quarter valued at approximately $155,000. Point72 Hong Kong Ltd increased its position in shares of Pfizer by 7,195.5% during the second quarter. Point72 Hong Kong Ltd now owns 4,815 shares of the biopharmaceutical company’s stock valued at $175,000 after acquiring an additional 4,749 shares during the last quarter. Almanack Investment Partners LLC. purchased a new stake in shares of Pfizer during the third quarter valued at approximately $198,000. Finally, Garrison Financial Corp purchased a new stake in shares of Pfizer during the third quarter valued at approximately $200,000. 68.61% of the stock is owned by hedge funds and other institutional investors.
In other news, EVP Douglas M. Lankler sold 38,800 shares of the firm’s stock in a transaction on Wednesday, January 30th. The stock was sold at an average price of $41.19, for a total value of $1,598,172.00. Following the completion of the transaction, the executive vice president now directly owns 83,592 shares of the company’s stock, valued at $3,443,154.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Douglas M. Lankler sold 5,000 shares of the firm’s stock in a transaction on Friday, February 1st. The stock was sold at an average price of $42.75, for a total value of $213,750.00. Following the completion of the transaction, the executive vice president now directly owns 83,592 shares of the company’s stock, valued at $3,573,558. The disclosure for this sale can be found here. Over the last three months, insiders have sold 308,826 shares of company stock valued at $13,346,258. 0.06% of the stock is owned by corporate insiders.
Pfizer (NYSE:PFE) last announced its quarterly earnings data on Tuesday, January 29th. The biopharmaceutical company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.01. Pfizer had a return on equity of 26.02% and a net margin of 20.79%. The business had revenue of $13.98 billion during the quarter, compared to analyst estimates of $13.92 billion. During the same period in the prior year, the company earned $0.62 earnings per share. Pfizer’s revenue was up 2.0% compared to the same quarter last year. Analysts anticipate that Pfizer Inc. will post 2.86 earnings per share for the current year.
Pfizer declared that its board has approved a share buyback program on Friday, December 14th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the biopharmaceutical company to repurchase up to 3.8% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.
A number of analysts recently commented on the company. Cantor Fitzgerald reaffirmed a “buy” rating and set a $53.00 price target on shares of Pfizer in a research report on Monday, November 19th. Argus raised Pfizer from a “hold” rating to a “buy” rating and set a $55.00 price target for the company in a research report on Thursday, January 31st. JPMorgan Chase & Co. downgraded Pfizer from an “overweight” rating to a “neutral” rating and set a $46.00 price target for the company. in a research report on Tuesday, December 11th. Zacks Investment Research downgraded Pfizer from a “hold” rating to a “sell” rating in a research report on Friday, January 25th. Finally, Credit Suisse Group reaffirmed a “neutral” rating and set a $45.00 price target on shares of Pfizer in a research report on Monday, January 28th. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and seven have assigned a buy rating to the stock. Pfizer presently has an average rating of “Hold” and an average target price of $44.89.
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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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