Associated Banc Corp Sells 44,324 Shares of Pfizer Inc. (PFE)

Associated Banc Corp decreased its position in shares of Pfizer Inc. (NYSE:PFE) by 5.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 839,817 shares of the biopharmaceutical company’s stock after selling 44,324 shares during the period. Pfizer comprises 1.8% of Associated Banc Corp’s holdings, making the stock its 8th largest holding. Associated Banc Corp’s holdings in Pfizer were worth $30,468,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. HC Financial Advisors Inc. purchased a new position in shares of Pfizer during the 4th quarter valued at approximately $2,685,000. Mitchell Capital Management Co. lifted its position in shares of Pfizer by 68.7% during the 1st quarter. Mitchell Capital Management Co. now owns 11,160 shares of the biopharmaceutical company’s stock valued at $396,000 after buying an additional 4,544 shares in the last quarter. D.A. Davidson & CO. lifted its position in shares of Pfizer by 1.4% during the 1st quarter. D.A. Davidson & CO. now owns 408,467 shares of the biopharmaceutical company’s stock valued at $14,497,000 after buying an additional 5,808 shares in the last quarter. First Long Island Investors LLC lifted its position in shares of Pfizer by 0.9% during the 1st quarter. First Long Island Investors LLC now owns 449,158 shares of the biopharmaceutical company’s stock valued at $15,941,000 after buying an additional 3,931 shares in the last quarter. Finally, ARS Investment Partners LLC lifted its position in shares of Pfizer by 23.1% during the 1st quarter. ARS Investment Partners LLC now owns 531,010 shares of the biopharmaceutical company’s stock valued at $18,846,000 after buying an additional 99,817 shares in the last quarter. Institutional investors and hedge funds own 69.01% of the company’s stock.

In other Pfizer news, insider Alexander R. Mackenzie sold 25,642 shares of the firm’s stock in a transaction on Friday, August 3rd. The stock was sold at an average price of $39.51, for a total value of $1,013,115.42. Following the completion of the sale, the insider now directly owns 127,954 shares of the company’s stock, valued at approximately $5,055,462.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Pfizer Inc bought 55,556 shares of the business’s stock in a transaction on Monday, October 15th. The stock was bought at an average cost of $18.00 per share, with a total value of $1,000,008.00. Following the completion of the purchase, the insider now directly owns 21,976,484 shares in the company, valued at $395,576,712. The disclosure for this purchase can be found here. 0.06% of the stock is owned by company insiders.

A number of research analysts have recently issued reports on PFE shares. Jefferies Financial Group reiterated a “neutral” rating and set a $39.00 target price on shares of Pfizer in a research report on Monday, July 9th. JPMorgan Chase & Co. reiterated a “buy” rating and set a $42.00 target price on shares of Pfizer in a research report on Wednesday, July 11th. Cantor Fitzgerald set a $45.00 target price on Pfizer and gave the company a “buy” rating in a research report on Wednesday, July 11th. Credit Suisse Group set a $39.00 target price on Pfizer and gave the company a “neutral” rating in a research report on Thursday, July 12th. Finally, Zacks Investment Research lowered Pfizer from a “buy” rating to a “hold” rating in a research report on Sunday, July 15th. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating and nine have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $42.80.

NYSE PFE opened at $43.06 on Thursday. Pfizer Inc. has a one year low of $33.20 and a one year high of $45.81. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.16 and a quick ratio of 0.91. The firm has a market capitalization of $253.59 billion, a P/E ratio of 16.25, a PEG ratio of 2.21 and a beta of 0.96.

Pfizer (NYSE:PFE) last posted its quarterly earnings data on Tuesday, October 30th. The biopharmaceutical company reported $0.78 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.75 by $0.03. Pfizer had a return on equity of 25.35% and a net margin of 42.35%. The firm had revenue of $13.30 billion during the quarter, compared to the consensus estimate of $13.53 billion. During the same period in the prior year, the company earned $0.67 EPS. The firm’s revenue was up 1.0% compared to the same quarter last year. On average, sell-side analysts forecast that Pfizer Inc. will post 2.99 earnings per share 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 paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.16%. The ex-dividend date is Thursday, November 8th. Pfizer’s dividend payout ratio (DPR) is presently 51.32%.

About Pfizer

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.

Further Reading: Why do company’s buyback their stock?

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Institutional Ownership by Quarter for Pfizer (NYSE:PFE)

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