Cannell Peter B & Co. Inc. lessened its stake in Pfizer Inc. (NYSE:PFE) by 1.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 316,893 shares of the biopharmaceutical company’s stock after selling 4,256 shares during the period. Cannell Peter B & Co. Inc.’s holdings in Pfizer were worth $11,313,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of PFE. Shine Investment Advisory Services Inc. bought a new stake in Pfizer during the second quarter valued at $102,000. Mckinley Capital Management LLC Delaware bought a new stake in Pfizer during the second quarter valued at $103,000. D. Scott Neal Inc. increased its stake in Pfizer by 19.3% during the second quarter. D. Scott Neal Inc. now owns 3,112 shares of the biopharmaceutical company’s stock valued at $105,000 after purchasing an additional 504 shares during the last quarter. Herndon Capital Management LLC bought a new stake in Pfizer during the second quarter valued at $120,000. Finally, Lipe & Dalton increased its stake in Pfizer by 6.9% during the second quarter. Lipe & Dalton now owns 4,626 shares of the biopharmaceutical company’s stock valued at $155,000 after purchasing an additional 300 shares during the last quarter. Institutional investors and hedge funds own 69.87% of the company’s stock.
In related news, EVP Rady A. Johnson sold 8,000 shares of the company’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $37.07, for a total value of $296,560.00. Following the completion of the sale, the executive vice president now owns 46,963 shares of the company’s stock, valued at $1,740,918.41. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Alexander R. Mackenzie sold 6,750 shares of the company’s stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $37.00, for a total transaction of $249,750.00. Following the completion of the sale, the insider now directly owns 103,458 shares of the company’s stock, valued at approximately $3,827,946. The disclosure for this sale can be found here. Corporate insiders own 0.06% of the company’s stock.
Shares of Pfizer Inc. (NYSE PFE) opened at $34.67 on Tuesday. The firm has a market cap of $206,660.00, a PE ratio of 9.85, a P/E/G ratio of 2.20 and a beta of 0.94. Pfizer Inc. has a 1-year low of $31.67 and a 1-year high of $39.43. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.43 and a quick ratio of 1.15.
Pfizer (NYSE:PFE) last posted its quarterly earnings data on Tuesday, January 30th. The biopharmaceutical company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.06. The business had revenue of $13.70 billion during the quarter, compared to the consensus estimate of $13.67 billion. Pfizer had a net margin of 40.55% and a return on equity of 26.86%. The company’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.47 earnings per share. analysts forecast that Pfizer Inc. will post 2.94 EPS for the current fiscal year.
Pfizer announced that its Board of Directors has authorized a share buyback plan on Monday, December 18th that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the biopharmaceutical company to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Friday, February 2nd will be issued a $0.34 dividend. The ex-dividend date is Thursday, February 1st. This represents a $1.36 annualized dividend and a yield of 3.92%. This is an increase from Pfizer’s previous quarterly dividend of $0.32. Pfizer’s dividend payout ratio is presently 38.64%.
Several equities analysts have recently commented on the stock. Morningstar set a $38.00 price target on shares of Pfizer and gave the stock a “neutral” rating in a research report on Tuesday, January 30th. UBS Group set a $42.00 price target on shares of Pfizer and gave the stock a “buy” rating in a research report on Wednesday, January 31st. Nord/LB restated a “neutral” rating on shares of Pfizer in a research report on Wednesday, December 27th. Zacks Investment Research upgraded shares of Pfizer from a “hold” rating to a “buy” rating and set a $41.00 price target for the company in a research report on Wednesday, January 24th. Finally, Deutsche Bank set a $38.00 price target on shares of Pfizer and gave the stock a “buy” rating in a research report on Wednesday, October 11th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and eleven have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $39.25.
ILLEGAL ACTIVITY WARNING: This news story was reported by Stock Observer and is the sole property of of Stock Observer. If you are accessing this news story on another publication, it was copied illegally and reposted in violation of international trademark and copyright laws. The legal version of this news story can be read at https://www.thestockobserver.com/2018/02/06/pfizer-inc-pfe-shares-sold-by-cannell-peter-b-co-inc.html.
Pfizer Inc (Pfizer) is a research-based global biopharmaceutical company. The Company is engaged in the discovery, development and manufacture of healthcare products. Its global portfolio includes medicines and vaccines, as well as consumer healthcare products. The Company manages its commercial operations through two business segments: Pfizer Innovative Health (IH) and Pfizer Essential Health (EH).
Want to see what other hedge funds are holding PFE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pfizer Inc. (NYSE:PFE).
Receive News & Ratings for Pfizer Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pfizer and related companies with MarketBeat.com's FREE daily email newsletter.