Connor Clark & Lunn Investment Management Ltd. trimmed its holdings in Pfizer Inc. (NYSE:PFE) by 21.9% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 1,028,098 shares of the biopharmaceutical company’s stock after selling 287,565 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Pfizer were worth $37,299,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. Ballew Advisors Inc purchased a new position in Pfizer during the first quarter worth about $102,000. W.G. Shaheen & Associates DBA Whitney & Co purchased a new position in Pfizer during the first quarter worth about $132,000. Bray Capital Advisors purchased a new position in Pfizer during the first quarter worth about $139,000. Braun Bostich & Associates Inc. purchased a new position in Pfizer during the first quarter worth about $139,000. Finally, Clearwater Capital Advisors LLC purchased a new position in Pfizer during the first quarter worth about $156,000. 68.95% of the stock is owned by institutional investors and hedge funds.
Shares of PFE opened at $43.78 on Friday. The company has a current ratio of 1.16, a quick ratio of 0.91 and a debt-to-equity ratio of 0.41. Pfizer Inc. has a twelve month low of $33.20 and a twelve month high of $45.81. The stock has a market cap of $262.34 billion, a price-to-earnings ratio of 16.52, a P/E/G ratio of 2.23 and a beta of 0.96.
Pfizer (NYSE:PFE) last issued its earnings results on Tuesday, July 31st. The biopharmaceutical company reported $0.81 earnings per share for the quarter, topping the 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 period in the prior year, the business posted $0.67 earnings per share. The firm’s revenue for the quarter was up 4.4% compared to the same quarter last year. Equities analysts anticipate that Pfizer Inc. will post 2.99 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, December 3rd. Shareholders of record on Friday, November 9th will be given a dividend of $0.34 per share. The ex-dividend date of this dividend is Thursday, November 8th. This represents a $1.36 annualized dividend and a yield of 3.11%. Pfizer’s payout ratio is currently 51.32%.
In other Pfizer news, CEO Ian C. Read sold 486,753 shares of the company’s stock in a transaction dated Monday, July 16th. The shares were sold at an average price of $37.36, for a total transaction of $18,185,092.08. Following the transaction, the chief executive officer now directly owns 1,145,693 shares in the company, valued at $42,803,090.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Sally Susman sold 40,381 shares of the company’s stock in a transaction dated Friday, July 20th. The stock was sold at an average price of $37.22, for a total transaction of $1,502,980.82. Following the transaction, the insider now owns 155,377 shares in the company, valued at $5,783,131.94. The disclosure for this sale can be found here. Insiders have sold 761,230 shares of company stock worth $29,054,690 over the last 90 days. 0.06% of the stock is currently owned by company insiders.
PFE has been the subject of several analyst reports. Zacks Investment Research raised shares of Pfizer from a “hold” rating to a “buy” rating and set a $41.00 price target for the company in a report on Tuesday, July 3rd. Jefferies Financial Group reissued a “neutral” rating and set a $39.00 price target on shares of Pfizer in a report on Monday, July 9th. JPMorgan Chase & Co. reissued a “buy” rating and set a $42.00 price target on shares of Pfizer in a report on Wednesday, July 11th. Cantor Fitzgerald set a $45.00 price target on shares of Pfizer and gave the stock a “buy” rating in a report on Wednesday, July 11th. Finally, Credit Suisse Group set a $39.00 price target on shares of Pfizer and gave the stock a “neutral” rating in a report on Thursday, July 12th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and nine have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $42.40.
Pfizer Company Profile
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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