Foundation Resource Management Inc. trimmed its position in shares of Pfizer Inc. (NYSE:PFE) by 2.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 400,567 shares of the biopharmaceutical company’s stock after selling 11,021 shares during the quarter. Pfizer accounts for approximately 4.0% of Foundation Resource Management Inc.’s investment portfolio, making the stock its 9th biggest position. Foundation Resource Management Inc.’s holdings in Pfizer were worth $13,099,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently made changes to their positions in PFE. Orser Capital Management LLC boosted its stake in shares of Pfizer by 2.7% in the 4th quarter. Orser Capital Management LLC now owns 10,990 shares of the biopharmaceutical company’s stock valued at $428,000 after buying an additional 290 shares during the period. Capital Analysts LLC boosted its stake in shares of Pfizer by 5.2% in the 4th quarter. Capital Analysts LLC now owns 46,017 shares of the biopharmaceutical company’s stock valued at $1,803,000 after buying an additional 2,258 shares during the period. Pittenger & Anderson Inc. boosted its stake in shares of Pfizer by 0.6% in the 4th quarter. Pittenger & Anderson Inc. now owns 93,429 shares of the biopharmaceutical company’s stock valued at $3,661,000 after buying an additional 516 shares during the period. Renaissance Technologies LLC raised its position in shares of Pfizer by 205.9% during the 4th quarter. Renaissance Technologies LLC now owns 13,102,541 shares of the biopharmaceutical company’s stock worth $513,358,000 after acquiring an additional 8,819,241 shares in the last quarter. Finally, Financial Advocates Investment Management raised its position in shares of Pfizer by 0.5% during the 4th quarter. Financial Advocates Investment Management now owns 71,461 shares of the biopharmaceutical company’s stock worth $2,799,000 after acquiring an additional 344 shares in the last quarter. Institutional investors and hedge funds own 70.28% of the company’s stock.
In other Pfizer news, EVP Douglas M. Lankler sold 65,000 shares of the company’s stock in a transaction dated Wednesday, April 29th. The stock was sold at an average price of $37.85, for a total transaction of $2,460,250.00. Following the completion of the sale, the executive vice president now directly owns 135,375 shares in the company, valued at $5,123,943.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Jennifer B. Damico sold 2,181 shares of the company’s stock in a transaction dated Wednesday, April 29th. The stock was sold at an average price of $38.35, for a total value of $83,641.35. Following the sale, the senior vice president now owns 9,647 shares of the company’s stock, valued at $369,962.45. The disclosure for this sale can be found here. Insiders sold 69,362 shares of company stock valued at $2,622,691 over the last quarter. Insiders own 0.08% of the company’s stock.
Shares of NYSE PFE traded down $0.36 during trading on Wednesday, reaching $33.67. The company had a trading volume of 685,864 shares, compared to its average volume of 33,425,040. Pfizer Inc. has a twelve month low of $27.88 and a twelve month high of $44.10. The stock has a market capitalization of $189.03 billion, a PE ratio of 12.01, a price-to-earnings-growth ratio of 2.70 and a beta of 0.68. The stock has a 50-day moving average price of $35.11 and a two-hundred day moving average price of $36.13. The company has a current ratio of 1.02, a quick ratio of 0.78 and a debt-to-equity ratio of 0.56.
Pfizer (NYSE:PFE) last released its quarterly earnings results on Tuesday, April 28th. The biopharmaceutical company reported $0.80 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.09. Pfizer had a return on equity of 25.76% and a net margin of 31.17%. The company had revenue of $12.03 billion during the quarter, compared to analysts’ expectations of $11.38 billion. During the same period in the previous year, the firm posted $0.85 earnings per share. The business’s revenue for the quarter was down 8.3% compared to the same quarter last year. On average, sell-side analysts predict that Pfizer Inc. will post 2.88 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, July 31st will be paid a $0.38 dividend. The ex-dividend date is Thursday, July 30th. This represents a $1.52 annualized dividend and a yield of 4.51%. Pfizer’s payout ratio is currently 51.53%.
Several brokerages have recently weighed in on PFE. Barclays cut their target price on Pfizer from $37.00 to $35.00 in a research report on Monday, June 1st. Piper Sandler raised their target price on Pfizer from $18.50 to $24.00 in a research report on Friday, June 26th. SVB Leerink assumed coverage on Pfizer in a research report on Tuesday, June 16th. They set a “market perform” rating and a $40.00 price target on the stock. Cantor Fitzgerald reaffirmed a “buy” rating and set a $53.00 price target on shares of Pfizer in a research report on Thursday, March 19th. Finally, Royal Bank of Canada reaffirmed a “buy” rating and set a $44.00 price target on shares of Pfizer in a research report on Monday, April 27th. Ten analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Pfizer currently has a consensus rating of “Hold” and a consensus price target of $38.72.
Pfizer Inc discovers, develops, manufactures, and sells healthcare products worldwide. It offers medicines and vaccines in various therapeutic areas, including internal medicine, vaccines, oncology, inflammation and immunology, and rare diseases under the Lyrica, Chantix/Champix, Eliquis, Ibrance, Sutent, Xalkori, Inlyta, Xtandi, Enbrel, Xeljanz, Eucrisa, BeneFix, Genotropin, and Refacto AF/Xyntha brands.
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