Mid Atlantic Financial Management Inc. ADV reduced its stake in shares of Pfizer Inc. (NYSE:PFE) by 1.5% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 120,080 shares of the biopharmaceutical company’s stock after selling 1,772 shares during the period. Pfizer accounts for approximately 0.5% of Mid Atlantic Financial Management Inc. ADV’s investment portfolio, making the stock its 28th biggest position. Mid Atlantic Financial Management Inc. ADV’s holdings in Pfizer were worth $5,202,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. IFG Advisory LLC lifted its position in shares of Pfizer by 12.5% during the 2nd quarter. IFG Advisory LLC now owns 40,786 shares of the biopharmaceutical company’s stock worth $1,766,000 after buying an additional 4,519 shares in the last quarter. Enterprise Trust & Investment Co bought a new stake in shares of Pfizer in the 2nd quarter worth approximately $4,218,000. Peddock Capital Advisors LLC raised its holdings in shares of Pfizer by 2.1% in the 2nd quarter. Peddock Capital Advisors LLC now owns 54,432 shares of the biopharmaceutical company’s stock worth $2,358,000 after purchasing an additional 1,111 shares during the period. Beaumont Financial Partners LLC raised its holdings in shares of Pfizer by 3.6% in the 2nd quarter. Beaumont Financial Partners LLC now owns 21,831 shares of the biopharmaceutical company’s stock worth $946,000 after purchasing an additional 764 shares during the period. Finally, Pinnacle Wealth Planning Services Inc. raised its holdings in shares of Pfizer by 5.7% in the 2nd quarter. Pinnacle Wealth Planning Services Inc. now owns 16,557 shares of the biopharmaceutical company’s stock worth $718,000 after purchasing an additional 886 shares during the period. 71.58% of the stock is owned by hedge funds and other institutional investors.
A number of research firms recently commented on PFE. UBS Group reaffirmed a “neutral” rating and issued a $43.00 price target on shares of Pfizer in a report on Monday, August 5th. Bank of America cut shares of Pfizer from a “buy” rating to a “neutral” rating in a report on Tuesday, July 30th. Goldman Sachs Group reaffirmed a “buy” rating and issued a $49.00 price target on shares of Pfizer in a report on Monday, June 17th. JPMorgan Chase & Co. set a $46.00 price target on shares of Pfizer and gave the stock a “neutral” rating in a report on Monday, July 29th. Finally, Barclays reaffirmed a “hold” rating and issued a $41.00 price target on shares of Pfizer in a report on Thursday, May 9th. Fourteen research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $46.67.
Pfizer (NYSE:PFE) last issued its earnings results on Monday, July 29th. The biopharmaceutical company reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.05. Pfizer had a net margin of 23.58% and a return on equity of 28.10%. The business had revenue of $13.26 billion for the quarter, compared to analysts’ expectations of $13.43 billion. During the same quarter in the previous year, the firm posted $0.77 EPS. The business’s revenue for the quarter was down 1.5% compared to the same quarter last year. As a group, analysts predict that Pfizer Inc. will post 2.8 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Friday, August 2nd will be issued a dividend of $0.36 per share. The ex-dividend date is Thursday, August 1st. This represents a $1.44 dividend on an annualized basis and a yield of 4.19%. Pfizer’s payout ratio is 48.00%.
In other news, insider Alexander R. Mackenzie sold 30,000 shares of the business’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $44.00, for a total transaction of $1,320,000.00. Following the completion of the transaction, the insider now directly owns 80,094 shares in the company, valued at approximately $3,524,136. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Frank A. Damelio sold 153,184 shares of the business’s stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $44.09, for a total transaction of $6,753,882.56. Following the transaction, the executive vice president now owns 489,647 shares of the company’s stock, valued at $21,588,536.23. The disclosure for this sale can be found here. Insiders own 0.09% of the company’s stock.
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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