Old North State Trust LLC lessened its position in shares of Pfizer Inc. (NYSE:PFE) by 15.4% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 24,218 shares of the biopharmaceutical company’s stock after selling 4,403 shares during the quarter. Old North State Trust LLC’s holdings in Pfizer were worth $870,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in PFE. Evolution Wealth Advisors LLC acquired a new position in shares of Pfizer in the second quarter worth $34,000. IMA Wealth Inc. grew its stake in shares of Pfizer by 144.5% in the second quarter. IMA Wealth Inc. now owns 807 shares of the biopharmaceutical company’s stock worth $35,000 after acquiring an additional 477 shares in the last quarter. Financial Gravity Wealth Inc. grew 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 acquiring an additional 257 shares in the last quarter. Vestor Capital LLC grew its stake in shares of Pfizer by 60.1% in the second quarter. Vestor Capital LLC now owns 1,547 shares of the biopharmaceutical company’s stock worth $67,000 after acquiring an additional 581 shares in the last quarter. Finally, HMS Capital Management LLC acquired a new position in shares of Pfizer during the second quarter worth $71,000. 71.69% of the stock is currently owned by hedge funds and other institutional investors.
PFE traded up $0.26 on Wednesday, reaching $35.69. The company had a trading volume of 12,952,196 shares, compared to its average volume of 24,010,037. Pfizer Inc. has a 1 year low of $33.97 and a 1 year high of $46.47. The stock has a market capitalization of $198.73 billion, a PE ratio of 11.90, a P/E/G ratio of 2.86 and a beta of 0.66. The company has a quick ratio of 1.21, a current ratio of 1.47 and a debt-to-equity ratio of 0.60. The stock has a 50-day moving average price of $35.91 and a 200-day moving average price of $40.03.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be issued a $0.36 dividend. The ex-dividend date is Thursday, November 7th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.03%. Pfizer’s payout ratio is 48.00%.
In other Pfizer news, major shareholder Pfizer Inc bought 50,000 shares of Pfizer stock in a transaction dated Tuesday, September 17th. The stock was acquired at an average cost of $18.00 per share, with a total value of $900,000.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Scott Gottlieb bought 3,000 shares of Pfizer stock in a transaction dated Friday, August 23rd. The stock was acquired at an average cost of $34.72 per share, with a total value of $104,160.00. Following the completion of the acquisition, the director now directly owns 3,000 shares of the company’s stock, valued at approximately $104,160. The disclosure for this purchase can be found here. 0.09% of the stock is currently owned by corporate insiders.
PFE has been the subject of a number of analyst reports. JPMorgan Chase & Co. boosted their target price on shares of Pfizer from $37.00 to $46.00 and gave the stock a “neutral” rating in a research note on Thursday, September 19th. They noted that the move was a valuation call. ValuEngine upgraded shares of Pfizer from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Credit Suisse Group reiterated a “neutral” rating on shares of Pfizer in a research note on Monday, August 12th. Morgan Stanley lowered their target price on shares of Pfizer from $40.00 to $38.00 and set an “equal weight” rating for the company in a research note on Tuesday, August 27th. Finally, Bank of America downgraded shares of Pfizer from a “buy” rating to a “neutral” rating in a research note on Tuesday, July 30th. Thirteen research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $45.25.
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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