Prestige Wealth Management Group LLC bought a new position in shares of Pfizer Inc. (NYSE:PFE) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 17,437 shares of the biopharmaceutical company’s stock, valued at approximately $756,000.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Evolution Wealth Advisors LLC purchased a new stake in shares of Pfizer in the 2nd quarter worth $34,000. IMA Wealth Inc. increased its position in Pfizer by 144.5% during the 2nd quarter. IMA Wealth Inc. now owns 807 shares of the biopharmaceutical company’s stock valued at $35,000 after buying an additional 477 shares in the last quarter. Winch Advisory Services LLC increased its holdings in shares of Pfizer by 69.6% in the fourth quarter. Winch Advisory Services LLC now owns 819 shares of the biopharmaceutical company’s stock valued at $36,000 after purchasing an additional 336 shares during the period. Financial Gravity Wealth Inc. boosted its stake in shares of Pfizer by 33.2% in the second quarter. Financial Gravity Wealth Inc. now owns 1,031 shares of the biopharmaceutical company’s stock worth $45,000 after buying an additional 257 shares during the last quarter. Finally, Karp Capital Management Corp purchased a new position in Pfizer during the fourth quarter worth approximately $53,000. Institutional investors and hedge funds own 71.68% of the company’s stock.
In related news, Director Scott Gottlieb bought 3,000 shares of Pfizer stock in a transaction dated Friday, August 23rd. The shares were bought at an average cost of $34.72 per share, for a total transaction of $104,160.00. Following the completion of the transaction, the director now owns 3,000 shares of the company’s stock, valued at $104,160. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Frank A. Damelio sold 153,184 shares of the company’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was 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 in the company, valued at $21,588,536.23. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by insiders.
Pfizer (NYSE:PFE) last released its quarterly earnings results on Monday, July 29th. The biopharmaceutical company reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.05. The business had revenue of $13.26 billion for the quarter, compared to the consensus estimate of $13.43 billion. Pfizer had a net margin of 23.58% and a return on equity of 28.10%. Pfizer’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.77 EPS. Equities analysts expect that Pfizer Inc. will post 2.81 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be issued a dividend of $0.36 per share. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $1.44 annualized dividend and a dividend yield of 4.01%. Pfizer’s payout ratio is 48.00%.
PFE has been the topic of several research reports. Goldman Sachs Group restated a “buy” rating and issued a $49.00 target price on shares of Pfizer in a research report on Monday, June 17th. Morgan Stanley cut their target price on Pfizer from $40.00 to $38.00 and set an “equal weight” rating for the company in a research note on Tuesday, August 27th. Credit Suisse Group reaffirmed a “neutral” rating on shares of Pfizer in a research note on Monday, August 12th. ValuEngine lowered Pfizer from a “hold” rating to a “sell” rating in a report on Saturday, September 14th. Finally, JPMorgan Chase & Co. lifted their target price on Pfizer from $37.00 to $46.00 and gave the company a “neutral” rating in a report on Thursday, September 19th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $45.88.
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.
See Also: What is a dead cat bounce?
Want to see what other hedge funds are holding PFE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pfizer Inc. (NYSE:PFE).
Receive News & Ratings for Pfizer Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pfizer and related companies with MarketBeat.com's FREE daily email newsletter.