Essex Savings Bank Cuts Stake in Pfizer Inc. (NYSE:PFE)

Essex Savings Bank lessened its stake in Pfizer Inc. (NYSE:PFE) by 1.2% in the 2nd quarter, Holdings Channel.com reports. The firm owned 65,279 shares of the biopharmaceutical company’s stock after selling 821 shares during the quarter. Pfizer makes up 1.3% of Essex Savings Bank’s holdings, making the stock its 15th largest holding. Essex Savings Bank’s holdings in Pfizer were worth $2,135,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Argus Investors Counsel Inc. boosted its position in shares of Pfizer by 5.3% during the second quarter. Argus Investors Counsel Inc. now owns 108,480 shares of the biopharmaceutical company’s stock valued at $3,547,000 after buying an additional 5,500 shares during the last quarter. Monte Financial Group LLC grew its stake in shares of Pfizer by 540.9% in the first quarter. Monte Financial Group LLC now owns 93,388 shares of the biopharmaceutical company’s stock worth $3,048,000 after acquiring an additional 78,816 shares during the period. Sanders Morris Harris LLC raised its holdings in shares of Pfizer by 27.0% during the first quarter. Sanders Morris Harris LLC now owns 31,823 shares of the biopharmaceutical company’s stock valued at $580,000 after purchasing an additional 6,775 shares during the last quarter. First Citizens Bank & Trust Co. lifted its position in Pfizer by 28.3% during the first quarter. First Citizens Bank & Trust Co. now owns 206,716 shares of the biopharmaceutical company’s stock valued at $6,747,000 after purchasing an additional 45,638 shares during the period. Finally, Patriot Financial Group Insurance Agency LLC boosted its holdings in Pfizer by 21.2% in the second quarter. Patriot Financial Group Insurance Agency LLC now owns 15,704 shares of the biopharmaceutical company’s stock worth $514,000 after purchasing an additional 2,744 shares during the last quarter. Institutional investors own 70.20% of the company’s stock.

PFE stock traded down $0.26 during trading on Friday, hitting $38.48. 27,042,691 shares of the company’s stock traded hands, compared to its average volume of 32,108,124. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.78 and a current ratio of 1.02. Pfizer Inc. has a 52 week low of $27.88 and a 52 week high of $40.97. The business has a fifty day simple moving average of $34.75 and a 200 day simple moving average of $35.79. The stock has a market capitalization of $213.75 billion, a price-to-earnings ratio of 15.27, a P/E/G ratio of 3.12 and a beta of 0.68.

Pfizer (NYSE:PFE) last released its earnings results on Tuesday, July 28th. The biopharmaceutical company reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.14. The firm had revenue of $11.80 billion for the quarter, compared to analysts’ expectations of $11.55 billion. Pfizer had a return on equity of 25.10% and a net margin of 28.80%. The company’s quarterly revenue was down 11.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.80 earnings per share. Research analysts forecast that Pfizer Inc. will post 2.89 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, July 31st will be issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.95%. The ex-dividend date is Thursday, July 30th. Pfizer’s dividend payout ratio is currently 51.53%.

A number of equities research analysts have weighed in on PFE shares. UBS Group boosted their target price on shares of Pfizer from $37.00 to $39.00 and gave the company a “neutral” rating in a research note on Wednesday. JPMorgan Chase & Co. reduced their price objective on Pfizer from $37.00 to $36.00 and set a “neutral” rating for the company in a research report on Monday, June 1st. Mizuho reissued a “buy” rating and issued a $38.00 target price on shares of Pfizer in a research report on Tuesday. ValuEngine downgraded Pfizer from a “hold” rating to a “sell” rating in a research note on Thursday. Finally, Zacks Investment Research cut shares of Pfizer from a “buy” rating to a “hold” rating and set a $40.00 price objective on the stock. in a research note on Monday, May 4th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $38.95.

In related news, SVP Jennifer B. Damico sold 2,181 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $36.13, for a total transaction of $78,799.53. Following the completion of the transaction, the senior vice president now owns 7,542 shares in the company, valued at approximately $272,492.46. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.08% of the stock is owned by 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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