AQR Capital Management LLC Sells 2,223,237 Shares of Pfizer Inc. (NYSE:PFE)

AQR Capital Management LLC cut its stake in Pfizer Inc. (NYSE:PFE) by 16.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,065,420 shares of the biopharmaceutical company’s stock after selling 2,223,237 shares during the period. Pfizer comprises about 0.6% of AQR Capital Management LLC’s investment portfolio, making the stock its 26th largest position. AQR Capital Management LLC owned 0.20% of Pfizer worth $361,175,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of PFE. Norges Bank bought a new position in shares of Pfizer in the fourth quarter worth about $2,326,225,000. Capital World Investors grew its holdings in Pfizer by 19.1% during the 1st quarter. Capital World Investors now owns 224,808,113 shares of the biopharmaceutical company’s stock worth $7,337,737,000 after acquiring an additional 36,092,723 shares in the last quarter. Wellington Management Group LLP grew its holdings in Pfizer by 12.9% during the 1st quarter. Wellington Management Group LLP now owns 218,676,145 shares of the biopharmaceutical company’s stock worth $7,137,589,000 after acquiring an additional 24,950,461 shares in the last quarter. APG Asset Management N.V. grew its holdings in Pfizer by 347.2% during the 1st quarter. APG Asset Management N.V. now owns 13,556,380 shares of the biopharmaceutical company’s stock worth $512,748,000 after acquiring an additional 10,524,792 shares in the last quarter. Finally, Nuveen Asset Management LLC grew its holdings in Pfizer by 30.9% during the 1st quarter. Nuveen Asset Management LLC now owns 40,753,427 shares of the biopharmaceutical company’s stock worth $1,330,192,000 after acquiring an additional 9,624,759 shares in the last quarter. Hedge funds and other institutional investors own 70.28% of the company’s stock.

In other Pfizer news, EVP Douglas M. Lankler sold 65,000 shares of Pfizer stock in a transaction on Wednesday, April 29th. The shares were sold at an average price of $37.85, for a total transaction of $2,460,250.00. Following the sale, the executive vice president now owns 135,375 shares of the company’s stock, valued at approximately $5,123,943.75. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Jennifer B. Damico sold 2,181 shares of Pfizer stock in a transaction on Wednesday, April 29th. The stock was sold at an average price of $38.35, for a total value of $83,641.35. Following the transaction, the senior vice president now owns 9,647 shares in the company, valued at approximately $369,962.45. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 69,362 shares of company stock worth $2,622,691. 0.08% of the stock is currently owned by corporate insiders.

PFE traded up $0.18 on Friday, hitting $33.42. 23,589,455 shares of the company’s stock were exchanged, compared to its average volume of 32,148,860. Pfizer Inc. has a fifty-two week low of $27.88 and a fifty-two week high of $44.56. The company has a current ratio of 1.02, a quick ratio of 0.78 and a debt-to-equity ratio of 0.56. The firm has a 50-day moving average price of $36.79 and a 200-day moving average price of $36.62. The stock has a market cap of $184.64 billion, a price-to-earnings ratio of 11.91, a P/E/G ratio of 2.62 and a beta of 0.70.

Pfizer (NYSE:PFE) last announced its earnings results on Tuesday, April 28th. The biopharmaceutical company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.09. Pfizer had a net margin of 31.17% and a return on equity of 25.76%. The company had revenue of $12.03 billion for the quarter, compared to analysts’ expectations of $11.38 billion. During the same quarter in the previous year, the company posted $0.85 EPS. The firm’s quarterly revenue was down 8.3% on a year-over-year basis. On average, equities analysts predict that Pfizer Inc. will post 2.88 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Friday, May 8th were paid a dividend of $0.38 per share. The ex-dividend date was Thursday, May 7th. This represents a $1.52 annualized dividend and a yield of 4.55%. Pfizer’s dividend payout ratio (DPR) is presently 51.53%.

Several research analysts have issued reports on PFE shares. Barclays dropped their target price on shares of Pfizer from $37.00 to $35.00 in a report on Monday, June 1st. SVB Leerink began coverage on shares of Pfizer in a research report on Tuesday. They issued a “market perform” rating and a $40.00 price objective for the company. Cantor Fitzgerald reissued a “buy” rating and set a $53.00 price target on shares of Pfizer in a research report on Thursday, March 19th. Zacks Investment Research lowered shares of Pfizer from a “buy” rating to a “hold” rating and set a $40.00 price target for the company. in a research report on Monday, May 4th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Pfizer from $37.00 to $36.00 and set a “neutral” rating on the stock in a research note on Monday, June 1st. Ten research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $40.28.

Pfizer Company Profile

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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