Cornerstone Wealth Management LLC increased its stake in shares of Pfizer Inc. (NYSE:PFE) by 3,260.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,280,991 shares of the biopharmaceutical company’s stock after purchasing an additional 1,242,876 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in Pfizer were worth $35,259,000 as of its most recent filing with the SEC.
Other hedge funds also recently bought and sold shares of the company. Ballew Advisors Inc acquired a new stake in shares of Pfizer during the first quarter worth approximately $102,000. Earnest Partners LLC acquired a new stake in Pfizer in the fourth quarter valued at approximately $105,000. Woodard & Co. Asset Management Group Inc. ADV acquired a new stake in Pfizer in the fourth quarter valued at approximately $118,000. Delpha Capital Management LLC acquired a new stake in Pfizer in the fourth quarter valued at approximately $126,000. Finally, W.G. Shaheen & Associates DBA Whitney & Co acquired a new stake in Pfizer in the first quarter valued at approximately $132,000. Institutional investors and hedge funds own 69.14% of the company’s stock.
In related news, insider Laurie J. Olson sold 10,214 shares of the business’s stock in a transaction on Monday, August 13th. The shares were sold at an average price of $41.00, for a total transaction of $418,774.00. Following the transaction, the insider now owns 72,672 shares of the company’s stock, valued at $2,979,552. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Alexander R. Mackenzie sold 25,642 shares of the business’s stock in a transaction on Friday, August 3rd. The stock was sold at an average price of $39.51, for a total transaction of $1,013,115.42. Following the transaction, the insider now directly owns 127,954 shares in the company, valued at approximately $5,055,462.54. The disclosure for this sale can be found here. In the last three months, insiders sold 761,230 shares of company stock worth $29,054,690. Insiders own 0.06% of the company’s stock.
A number of analysts have issued reports on PFE shares. JPMorgan Chase & Co. reiterated a “$37.66” rating on shares of Pfizer in a research note on Wednesday, July 18th. Cantor Fitzgerald set a $45.00 target price on shares of Pfizer and gave the company a “buy” rating in a research note on Wednesday, July 11th. Morgan Stanley reiterated a “buy” rating and issued a $43.00 target price on shares of Pfizer in a research note on Monday, June 11th. Zacks Investment Research upgraded shares of Pfizer from a “hold” rating to a “buy” rating and set a $41.00 target price for the company in a research note on Tuesday, July 3rd. Finally, BMO Capital Markets reiterated a “buy” rating and issued a $42.00 target price on shares of Pfizer in a research note on Thursday, July 19th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and nine have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $41.89.
NYSE:PFE opened at $42.96 on Friday. Pfizer Inc. has a 12 month low of $33.20 and a 12 month high of $43.00. The company has a market capitalization of $252.46 billion, a PE ratio of 16.21, a PEG ratio of 2.04 and a beta of 0.96. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.91 and a current ratio of 1.16.
Pfizer (NYSE:PFE) last released its quarterly earnings results on Tuesday, July 31st. The biopharmaceutical company reported $0.81 EPS for the quarter, beating the Zacks’ consensus estimate of $0.74 by $0.07. Pfizer had a net margin of 42.35% and a return on equity of 25.35%. The company had revenue of $13.47 billion for the quarter, compared to analyst estimates of $13.30 billion. During the same quarter last year, the firm posted $0.67 earnings per share. The company’s quarterly revenue was up 4.4% compared to the same quarter last year. analysts predict that Pfizer Inc. will post 2.99 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, September 4th. Stockholders of record on Friday, August 3rd were given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.17%. The ex-dividend date of this dividend was Thursday, August 2nd. Pfizer’s dividend payout ratio is 51.32%.
Pfizer Inc discovers, develops, manufactures, and sells healthcare products worldwide. It operates in two segments, Pfizer Innovative Health (IH) and Pfizer Essential Health (EH). The IH segment focuses on the development and commercialization of medicines and vaccines, and consumer healthcare products in various therapeutic areas, including internal medicine, vaccines, oncology, inflammation and immunology, and rare diseases, as well as consumer healthcare, such as over-the-counter brands comprising dietary supplements, pain management, gastrointestinal, and respiratory and personal care.
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