Cedar Capital LLC increased its stake in Pfizer Inc. (NYSE:PFE) by 14.4% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 12,238 shares of the biopharmaceutical company’s stock after acquiring an additional 1,545 shares during the quarter. Cedar Capital LLC’s holdings in Pfizer were worth $444,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently modified their holdings of PFE. Ballew Advisors Inc purchased a new stake in shares of Pfizer during the first quarter worth $102,000. W.G. Shaheen & Associates DBA Whitney & Co purchased a new stake in shares of Pfizer during the first quarter worth $132,000. Bray Capital Advisors purchased a new stake in shares of Pfizer during the first quarter worth $139,000. Braun Bostich & Associates Inc. purchased a new stake in shares of Pfizer during the first quarter worth $139,000. Finally, Clearwater Capital Advisors LLC purchased a new stake in shares of Pfizer during the first quarter worth $156,000. 69.01% of the stock is owned by institutional investors.
In other Pfizer news, insider Alexander R. Mackenzie sold 25,642 shares of the company’s stock in a transaction dated Friday, August 3rd. The shares were sold at an average price of $39.51, for a total value of $1,013,115.42. Following the transaction, the insider now owns 127,954 shares of the company’s stock, valued at $5,055,462.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Laurie J. Olson sold 10,214 shares of the company’s stock in a transaction dated Monday, August 13th. The shares were sold at an average price of $41.00, for a total transaction of $418,774.00. Following the completion of the transaction, the insider now directly owns 72,672 shares in the company, valued at approximately $2,979,552. The disclosure for this sale can be found here. Insiders own 0.06% of the company’s stock.
Pfizer (NYSE:PFE) last announced its quarterly earnings results on Tuesday, October 30th. The biopharmaceutical company reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.03. The firm had revenue of $13.30 billion for the quarter, compared to analysts’ expectations of $13.53 billion. Pfizer had a net margin of 42.35% and a return on equity of 25.35%. The company’s revenue was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.67 EPS. As a group, analysts forecast that Pfizer Inc. will post 2.99 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 3rd. Stockholders 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 dividend yield of 3.17%. Pfizer’s payout ratio is 51.32%.
A number of equities research analysts have recently issued reports on the stock. Zacks Investment Research lowered shares of Pfizer from a “buy” rating to a “hold” rating in a report on Sunday, July 15th. Goldman Sachs Group set a $45.00 target price on shares of Pfizer and gave the stock a “neutral” rating in a report on Tuesday. Credit Suisse Group set a $40.00 target price on shares of Pfizer and gave the stock a “neutral” rating in a report on Tuesday. BMO Capital Markets reaffirmed a “buy” rating and set a $42.00 target price on shares of Pfizer in a report on Thursday, July 19th. Finally, Jefferies Financial Group reaffirmed a “neutral” rating and set a $39.00 target price on shares of Pfizer in a report on Monday, July 9th. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and nine have issued a buy rating to the company. Pfizer has an average rating of “Hold” and a consensus target price of $42.80.
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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