Fortem Financial Group LLC trimmed its position in Pfizer Inc. (NYSE:PFE) by 10.8% during the first quarter, HoldingsChannel.com reports. The fund owned 48,835 shares of the biopharmaceutical company’s stock after selling 5,904 shares during the quarter. Pfizer makes up 1.0% of Fortem Financial Group LLC’s portfolio, making the stock its 25th biggest position. Fortem Financial Group LLC’s holdings in Pfizer were worth $1,769,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors also recently modified their holdings of the company. Bank of New York Mellon Corp lifted its holdings in shares of Pfizer by 12.1% during the fourth quarter. Bank of New York Mellon Corp now owns 64,756,839 shares of the biopharmaceutical company’s stock worth $2,383,700,000 after purchasing an additional 6,965,496 shares during the period. Norges Bank acquired a new position in shares of Pfizer during the fourth quarter worth $2,219,532,000. Morgan Stanley lifted its holdings in Pfizer by 16.4% in the fourth quarter. Morgan Stanley now owns 53,610,111 shares of the biopharmaceutical company’s stock valued at $1,973,389,000 after buying an additional 7,540,245 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Pfizer by 5.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 42,009,283 shares of the biopharmaceutical company’s stock valued at $1,546,362,000 after purchasing an additional 2,012,367 shares in the last quarter. Finally, Sanders Capital LLC increased its stake in Pfizer by 10.6% in the fourth quarter. Sanders Capital LLC now owns 31,947,816 shares of the biopharmaceutical company’s stock valued at $1,280,997,000 after purchasing an additional 3,051,838 shares in the last quarter. Hedge funds and other institutional investors own 67.36% of the company’s stock.
Several equities research analysts have recently commented on the stock. SVB Leerink decreased their target price on shares of Pfizer from $40.00 to $39.00 and set a “market perform” rating for the company in a research report on Thursday, April 1st. DZ Bank reaffirmed a “buy” rating and issued a $41.00 price objective on shares of Pfizer in a research report on Wednesday, February 3rd. Berenberg Bank reaffirmed a “neutral” rating and issued a $38.00 price objective on shares of Pfizer in a research report on Tuesday, March 23rd. JPMorgan Chase & Co. set a $36.00 target price on shares of Pfizer and gave the company a “neutral” rating in a research note on Wednesday, February 3rd. Finally, Royal Bank of Canada initiated coverage on shares of Pfizer in a research note on Wednesday, April 7th. They issued a “sector perform” rating and a $42.00 target price on the stock. Eleven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Pfizer has an average rating of “Hold” and an average target price of $38.47.
Pfizer (NYSE:PFE) last announced its quarterly earnings results on Tuesday, February 2nd. The biopharmaceutical company reported $0.42 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.46 by ($0.04). Pfizer had a net margin of 17.85% and a return on equity of 24.88%. The firm had revenue of $11.68 billion for the quarter, compared to analysts’ expectations of $11.32 billion. During the same period in the previous year, the company earned $0.55 EPS. The company’s quarterly revenue was up 11.8% on a year-over-year basis. Sell-side analysts expect that Pfizer Inc. will post 2.89 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 4th. Investors of record on Friday, May 7th will be given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 3.95%. Pfizer’s dividend payout ratio (DPR) is currently 52.88%.
Pfizer Inc discovers, develops, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It offers medicines and vaccines in various therapeutic areas, including cardiovascular metabolic and pain under the Eliquis, Chantix/Champix, and Premarin family brands; biologics, small molecules, immunotherapies, and biosimilars under the Ibrance, Xtandi, Sutent, Inlyta, Retacrit, Lorbrena, and Braftovi brands; and sterile injectable and anti-infective medicines under the Sulperazon, Medrol, Zithromax, Vfend, and Panzyga brands.
Read More: Hold Rating
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