Wright Investors Service Inc. boosted its holdings in Pfizer Inc. (NYSE:PFE) by 5.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 66,789 shares of the biopharmaceutical company’s stock after buying an additional 3,750 shares during the period. Pfizer makes up about 1.1% of Wright Investors Service Inc.’s investment portfolio, making the stock its 25th biggest position. Wright Investors Service Inc.’s holdings in Pfizer were worth $2,893,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. BKD Wealth Advisors LLC lifted its holdings in shares of Pfizer by 2.5% in the 4th quarter. BKD Wealth Advisors LLC now owns 104,315 shares of the biopharmaceutical company’s stock valued at $4,553,000 after purchasing an additional 2,561 shares during the last quarter. Strs Ohio raised its stake in Pfizer by 1.5% during the 4th quarter. Strs Ohio now owns 2,996,080 shares of the biopharmaceutical company’s stock valued at $130,778,000 after acquiring an additional 45,159 shares during the last quarter. Suncoast Equity Management purchased a new stake in Pfizer during the 4th quarter valued at approximately $256,000. Winslow Evans & Crocker Inc. raised its stake in Pfizer by 44.2% during the 4th quarter. Winslow Evans & Crocker Inc. now owns 62,336 shares of the biopharmaceutical company’s stock valued at $2,722,000 after acquiring an additional 19,122 shares during the last quarter. Finally, First National Bank of Omaha raised its stake in Pfizer by 0.8% during the 4th quarter. First National Bank of Omaha now owns 294,415 shares of the biopharmaceutical company’s stock valued at $12,851,000 after acquiring an additional 2,397 shares during the last quarter. Institutional investors and hedge funds own 71.81% of the company’s stock.
PFE has been the subject of several analyst reports. JPMorgan Chase & Co. set a $46.00 price objective on Pfizer and gave the company a “neutral” rating in a research note on Monday, July 29th. Barclays reaffirmed a “hold” rating and set a $41.00 price objective on shares of Pfizer in a research note on Thursday, May 9th. Credit Suisse Group reaffirmed a “neutral” rating on shares of Pfizer in a research note on Monday, August 12th. Bank of America downgraded Pfizer from a “buy” rating to a “neutral” rating in a research note on Tuesday, July 30th. Finally, Morgan Stanley downgraded Pfizer from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $48.00 to $40.00 in a research note on Tuesday, July 30th. Fourteen equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Pfizer currently has an average rating of “Hold” and a consensus price target of $46.56.
Pfizer (NYSE:PFE) last issued its earnings results on Monday, July 29th. The biopharmaceutical company reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.05. The business had revenue of $13.26 billion during the quarter, compared to the consensus estimate of $13.43 billion. Pfizer had a return on equity of 28.10% and a net margin of 23.58%. The company’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.77 EPS. As a group, analysts predict that Pfizer Inc. will post 2.8 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Friday, August 2nd will be issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.16%. The ex-dividend date is Thursday, August 1st. Pfizer’s dividend payout ratio is currently 48.00%.
In related news, EVP Frank A. Damelio sold 153,184 shares of the company’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $44.09, for a total value of $6,753,882.56. Following the sale, the executive vice president now owns 489,647 shares in the company, valued at approximately $21,588,536.23. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Alexander R. Mackenzie sold 30,000 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $44.00, for a total value of $1,320,000.00. Following the completion of the sale, the insider now owns 80,094 shares in the company, valued at approximately $3,524,136. The disclosure for this sale can be found here. Corporate insiders own 0.09% of the company’s stock.
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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