Macguire Cheswick & Tuttle Investment Counsel LLC purchased a new stake in shares of Pfizer Inc. (NYSE:PFE) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 4,810 shares of the biopharmaceutical company’s stock, valued at approximately $212,000.
Other hedge funds have also made changes to their positions in the company. Fort L.P. acquired a new position in shares of Pfizer during the second quarter worth $121,000. Selective Wealth Management acquired a new position in shares of Pfizer during the third quarter worth $155,000. Smart Portfolios LLC raised its holdings in Pfizer by 43.9% in the second quarter. Smart Portfolios LLC now owns 3,935 shares of the biopharmaceutical company’s stock valued at $143,000 after acquiring an additional 1,200 shares in the last quarter. Moody Aldrich Partners LLC acquired a new stake in Pfizer in the second quarter valued at $154,045,000. Finally, Sterling Global Strategies LLC acquired a new stake in Pfizer in the third quarter valued at $201,000. 70.61% of the stock is currently owned by hedge funds and other institutional investors.
In related news, EVP Douglas M. Lankler sold 5,000 shares of the company’s stock in a transaction dated Friday, February 1st. The shares were sold at an average price of $42.75, for a total value of $213,750.00. Following the completion of the sale, the executive vice president now owns 83,592 shares of the company’s stock, valued at $3,573,558. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Douglas M. Lankler sold 38,800 shares of the company’s stock in a transaction dated Wednesday, January 30th. The stock was sold at an average price of $41.19, for a total transaction of $1,598,172.00. Following the completion of the sale, the executive vice president now directly owns 83,592 shares of the company’s stock, valued at approximately $3,443,154.48. The disclosure for this sale can be found here. Corporate insiders own 0.06% of the company’s stock.
Pfizer (NYSE:PFE) last posted its quarterly earnings data on Tuesday, January 29th. The biopharmaceutical company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.01. The business had revenue of $13.98 billion during the quarter, compared to the consensus estimate of $13.92 billion. Pfizer had a net margin of 20.79% and a return on equity of 25.38%. The company’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.62 earnings per share. On average, analysts anticipate that Pfizer Inc. will post 2.86 EPS for the current fiscal year.
Pfizer announced that its Board of Directors has authorized a share buyback plan on Friday, December 14th that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the biopharmaceutical company to repurchase up to 3.8% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 1st. Investors of record on Friday, February 1st will be issued a $0.36 dividend. The ex-dividend date is Thursday, January 31st. This represents a $1.44 annualized dividend and a yield of 3.41%. This is an increase from Pfizer’s previous quarterly dividend of $0.34. Pfizer’s dividend payout ratio is presently 48.00%.
Several analysts recently issued reports on PFE shares. Credit Suisse Group set a $40.00 price target on shares of Pfizer and gave the company a “hold” rating in a report on Sunday, October 14th. Zacks Investment Research cut shares of Pfizer from a “buy” rating to a “hold” rating in a report on Tuesday, October 16th. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $53.00 price target on shares of Pfizer in a report on Wednesday, October 17th. Barclays set a $40.00 price target on shares of Pfizer and gave the company a “neutral” rating in a report on Friday, October 19th. Finally, Wolfe Research began coverage on shares of Pfizer in a research note on Tuesday, October 23rd. They set a “market perform” rating for the company. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating and seven have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $44.68.
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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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