Welch & Forbes LLC Trims Position in Pfizer Inc. (NYSE:PFE)

Welch & Forbes LLC cut its position in Pfizer Inc. (NYSE:PFE) by 1.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 885,980 shares of the biopharmaceutical company’s stock after selling 13,581 shares during the period. Welch & Forbes LLC’s holdings in Pfizer were worth $31,833,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in PFE. Signet Financial Management LLC increased its stake in shares of Pfizer by 0.4% in the fourth quarter. Signet Financial Management LLC now owns 71,686 shares of the biopharmaceutical company’s stock worth $3,129,000 after purchasing an additional 292 shares in the last quarter. Semmax Financial Advisors Inc. purchased a new position in Pfizer during the fourth quarter valued at $585,000. Nomura Holdings Inc. grew its stake in Pfizer by 1,854.2% during the fourth quarter. Nomura Holdings Inc. now owns 529,323 shares of the biopharmaceutical company’s stock valued at $22,956,000 after acquiring an additional 502,237 shares in the last quarter. LMR Partners LLP purchased a new position in Pfizer during the fourth quarter valued at $2,920,000. Finally, IHT Wealth Management LLC grew its stake in Pfizer by 42.3% during the fourth quarter. IHT Wealth Management LLC now owns 48,934 shares of the biopharmaceutical company’s stock valued at $2,136,000 after acquiring an additional 14,554 shares in the last quarter. 71.69% of the stock is owned by hedge funds and other institutional investors.

Several research firms recently weighed in on PFE. ValuEngine raised shares of Pfizer from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Bank of America cut shares of Pfizer from a “buy” rating to a “neutral” rating in a research note on Tuesday, July 30th. Credit Suisse Group reaffirmed a “neutral” rating on shares of Pfizer in a research note on Monday, August 12th. Goldman Sachs Group reaffirmed a “buy” rating and set a $49.00 target price on shares of Pfizer in a research note on Monday, June 17th. Finally, DZ Bank raised shares of Pfizer from a “sell” rating to a “hold” rating and set a $36.00 target price for the company in a research note on Wednesday, August 28th. Twelve equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $45.20.

PFE stock traded up $0.48 during trading on Friday, hitting $36.27. 11,309,712 shares of the company’s stock traded hands, compared to its average volume of 19,407,336. Pfizer Inc. has a 52 week low of $33.97 and a 52 week high of $46.47. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.21 and a current ratio of 1.47. The business has a fifty day simple moving average of $35.94 and a 200 day simple moving average of $39.97. The stock has a market capitalization of $195.97 billion, a price-to-earnings ratio of 12.09, a P/E/G ratio of 2.82 and a beta of 0.66.

Pfizer (NYSE:PFE) last released its quarterly earnings data on Monday, July 29th. The biopharmaceutical company reported $0.80 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.75 by $0.05. Pfizer had a net margin of 23.58% and a return on equity of 28.10%. The business had revenue of $13.26 billion during the quarter, compared to analyst estimates of $13.43 billion. During the same quarter last year, the business earned $0.77 earnings per share. Pfizer’s quarterly revenue was down 1.5% compared to the same quarter last year. Research analysts forecast that Pfizer Inc. will post 2.81 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be given a dividend of $0.36 per share. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $1.44 annualized dividend and a yield of 3.97%. Pfizer’s dividend payout ratio (DPR) is currently 48.00%.

In other news, Director Scott Gottlieb bought 3,000 shares of the stock in a transaction dated Friday, August 23rd. The stock was purchased at an average price of $34.72 per share, for a total transaction of $104,160.00. Following the acquisition, the director now owns 3,000 shares of the company’s stock, valued at $104,160. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, major shareholder Pfizer Inc bought 50,000 shares of the stock in a transaction dated Tuesday, September 17th. The stock was purchased at an average price of $18.00 per share, with a total value of $900,000.00. The disclosure for this purchase can be found here. 0.09% of the stock is owned by company insiders.

About Pfizer

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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Institutional Ownership by Quarter for Pfizer (NYSE:PFE)

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