Wedbush Securities Inc. Cuts Stake in Pfizer, Inc. (PFE)

Wedbush Securities Inc. decreased its holdings in Pfizer, Inc. (NYSE:PFE) by 3.2% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 146,471 shares of the biopharmaceutical company’s stock after selling 4,850 shares during the period. Pfizer makes up about 0.6% of Wedbush Securities Inc.’s holdings, making the stock its 23rd biggest holding. Wedbush Securities Inc.’s holdings in Pfizer were worth $4,920,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. IFC Holdings Incorporated FL boosted its stake in shares of Pfizer by 1.4% in the 2nd quarter. IFC Holdings Incorporated FL now owns 72,447 shares of the biopharmaceutical company’s stock valued at $2,432,000 after purchasing an additional 1,023 shares in the last quarter. Keystone Financial Planning Inc. boosted its stake in shares of Pfizer by 3.2% in the 2nd quarter. Keystone Financial Planning Inc. now owns 187,549 shares of the biopharmaceutical company’s stock valued at $6,300,000 after purchasing an additional 5,741 shares in the last quarter. Teacher Retirement System of Texas boosted its stake in shares of Pfizer by 6.5% in the 2nd quarter. Teacher Retirement System of Texas now owns 3,994,833 shares of the biopharmaceutical company’s stock valued at $134,186,000 after purchasing an additional 244,575 shares in the last quarter. Patton Albertson Miller Group LLC boosted its stake in shares of Pfizer by 2.6% in the 2nd quarter. Patton Albertson Miller Group LLC now owns 6,705 shares of the biopharmaceutical company’s stock valued at $222,000 after purchasing an additional 168 shares in the last quarter. Finally, Granite Investment Advisors LLC boosted its stake in shares of Pfizer by 3.3% in the 2nd quarter. Granite Investment Advisors LLC now owns 8,635 shares of the biopharmaceutical company’s stock valued at $286,000 after purchasing an additional 277 shares in the last quarter. 69.36% of the stock is owned by institutional investors.

A number of equities research analysts recently commented on PFE shares. Sanford C. Bernstein set a $39.00 price target on shares of Pfizer and gave the company a “buy” rating in a report on Monday, July 17th. Credit Suisse Group lowered shares of Pfizer from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $38.00 to $36.00 in a report on Thursday, July 20th. UBS AG reiterated a “buy” rating and set a $38.00 price target on shares of Pfizer in a report on Monday, July 31st. Berenberg Bank set a $39.00 price target on shares of Pfizer and gave the company a “neutral” rating in a report on Tuesday, August 1st. Finally, BMO Capital Markets upgraded shares of Pfizer from a “market perform” rating to an “outperform” rating and upped their price target for the company from $33.00 to $37.00 in a report on Wednesday, August 2nd. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $38.48.

Pfizer, Inc. (NYSE PFE) opened at $35.18 on Monday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.43 and a quick ratio of 1.15. The stock has a market cap of $209,697.67, a PE ratio of 14.07, a P/E/G ratio of 2.49 and a beta of 1.01. Pfizer, Inc. has a 12 month low of $30.51 and a 12 month high of $36.78.

Pfizer (NYSE:PFE) last issued its quarterly earnings results on Tuesday, October 31st. The biopharmaceutical company reported $0.67 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.02. The company had revenue of $13.17 billion during the quarter, compared to analyst estimates of $13.17 billion. Pfizer had a net margin of 18.69% and a return on equity of 25.41%. Pfizer’s quarterly revenue was up .9% compared to the same quarter last year. During the same period last year, the business earned $0.61 EPS. analysts anticipate that Pfizer, Inc. will post 2.59 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Friday, November 10th will be paid a $0.32 dividend. The ex-dividend date of this dividend is Thursday, November 9th. This represents a $1.28 annualized dividend and a dividend yield of 3.64%. Pfizer’s payout ratio is 79.01%.

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In related news, insider Alexander R. Mackenzie sold 7,350 shares of the stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $34.00, for a total value of $249,900.00. Following the completion of the transaction, the insider now directly owns 132,124 shares in the company, valued at approximately $4,492,216. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Laurie J. Olson sold 8,064 shares of the stock in a transaction dated Monday, August 21st. The stock was sold at an average price of $32.70, for a total transaction of $263,692.80. Following the completion of the transaction, the insider now owns 74,506 shares of the company’s stock, valued at $2,436,346.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 374,621 shares of company stock valued at $12,796,098. 0.06% of the stock is owned by company insiders.

Pfizer Company Profile

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).

Institutional Ownership by Quarter for Pfizer (NYSE:PFE)

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