Sound Shore Management Inc CT Increases Holdings in Pfizer Inc. (NYSE:PFE)

Sound Shore Management Inc CT increased its stake in Pfizer Inc. (NYSE:PFEGet Rating) by 46.0% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,761,806 shares of the biopharmaceutical company’s stock after purchasing an additional 555,152 shares during the quarter. Pfizer comprises about 3.1% of Sound Shore Management Inc CT’s holdings, making the stock its 15th largest position. Sound Shore Management Inc CT’s holdings in Pfizer were worth $77,097,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in PFE. Karp Capital Management Corp bought a new position in shares of Pfizer in the third quarter worth approximately $27,000. Steward Financial Group LLC increased its position in shares of Pfizer by 315.3% in the second quarter. Steward Financial Group LLC now owns 544 shares of the biopharmaceutical company’s stock worth $28,000 after purchasing an additional 413 shares during the last quarter. Worth Asset Management LLC bought a new position in shares of Pfizer in the first quarter worth approximately $29,000. Goodman Advisory Group LLC bought a new position in shares of Pfizer in the second quarter worth approximately $32,000. Finally, Johnson Midwest Financial LLC increased its position in shares of Pfizer by 246.1% in the second quarter. Johnson Midwest Financial LLC now owns 886 shares of the biopharmaceutical company’s stock worth $46,000 after purchasing an additional 630 shares during the last quarter. 67.62% of the stock is currently owned by hedge funds and other institutional investors.

Pfizer Stock Up 0.6 %

Shares of Pfizer stock opened at $44.96 on Wednesday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.37 and a current ratio of 1.59. Pfizer Inc. has a 52-week low of $41.44 and a 52-week high of $56.32. The stock has a market capitalization of $252.37 billion, a price-to-earnings ratio of 8.60, a P/E/G ratio of 1.11 and a beta of 0.67. The company’s 50 day moving average price is $49.68 and its 200-day moving average price is $48.06.

Pfizer (NYSE:PFEGet Rating) last issued its earnings results on Tuesday, November 1st. The biopharmaceutical company reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.47 by $0.31. The firm had revenue of $22.64 billion for the quarter, compared to analysts’ expectations of $21.04 billion. Pfizer had a net margin of 29.81% and a return on equity of 43.95%. Equities research analysts forecast that Pfizer Inc. will post 6.47 EPS for the current year.

Pfizer Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 3rd. Shareholders of record on Friday, January 27th will be given a dividend of $0.41 per share. The ex-dividend date of this dividend is Thursday, January 26th. This represents a $1.64 annualized dividend and a yield of 3.65%. This is a positive change from Pfizer’s previous quarterly dividend of $0.40. Pfizer’s dividend payout ratio (DPR) is currently 30.77%.

Analyst Ratings Changes

PFE has been the topic of several research analyst reports. Morgan Stanley upped their price objective on shares of Pfizer from $51.00 to $53.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 14th. Barclays increased their price target on shares of Pfizer from $44.00 to $49.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 2nd. UBS Group set a $55.00 price target on shares of Pfizer in a research report on Wednesday, January 18th. Credit Suisse Group set a $54.00 price target on shares of Pfizer in a research report on Wednesday, January 18th. Finally, StockNews.com began coverage on shares of Pfizer in a research report on Wednesday, October 12th. They set a “strong-buy” rating on the stock. Seven equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $53.00.

About Pfizer

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Pfizer Inc is a research-based global biopharmaceutical company. It engages in the discovery, development, manufacture, marketing, sales and distribution of biopharmaceutical products worldwide. The firm works across developed and emerging markets to advance wellness, prevention, treatments and cures that challenge the most feared diseases.

See Also

Institutional Ownership by Quarter for Pfizer (NYSE:PFE)

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