Indiana Trust & Investment Management CO raised its holdings in shares of Pfizer Inc. (NYSE:PFE) by 7.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 23,529 shares of the biopharmaceutical company’s stock after acquiring an additional 1,664 shares during the quarter. Indiana Trust & Investment Management CO’s holdings in Pfizer were worth $769,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also recently made changes to their positions in the company. New England Investment & Retirement Group Inc. purchased a new stake in Pfizer in the 1st quarter valued at about $26,000. Lion Street Advisors LLC acquired a new position in Pfizer in the first quarter worth $27,000. Benjamin Edwards Inc. grew its stake in Pfizer by 49.8% in the first quarter. Benjamin Edwards Inc. now owns 1,008 shares of the biopharmaceutical company’s stock valued at $33,000 after acquiring an additional 335 shares during the period. Disciplined Investments LLC grew its stake in Pfizer by 43.3% in the first quarter. Disciplined Investments LLC now owns 1,148 shares of the biopharmaceutical company’s stock valued at $37,000 after acquiring an additional 347 shares during the period. Finally, HighMark Wealth Management LLC acquired a new position in Pfizer in the fourth quarter valued at about $58,000. Hedge funds and other institutional investors own 70.20% of the company’s stock.
In other Pfizer news, EVP Douglas M. Lankler sold 65,000 shares of Pfizer stock in a transaction on Wednesday, April 29th. The shares were sold at an average price of $37.85, for a total value of $2,460,250.00. Following the sale, the executive vice president now directly owns 135,375 shares in the company, valued at approximately $5,123,943.75. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Jennifer B. Damico sold 2,181 shares of the business’s stock in a transaction dated Wednesday, April 29th. The stock was sold at an average price of $38.35, for a total transaction of $83,641.35. Following the completion of the sale, the senior vice president now owns 9,647 shares in the company, valued at $369,962.45. The disclosure for this sale can be found here. Insiders have sold a total of 69,362 shares of company stock worth $2,622,691 in the last quarter. Corporate insiders own 0.08% of the company’s stock.
Pfizer (NYSE:PFE) last released its quarterly earnings results on Tuesday, April 28th. The biopharmaceutical company reported $0.80 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.09. Pfizer had a net margin of 31.17% and a return on equity of 25.76%. The company had revenue of $12.03 billion during the quarter, compared to the consensus estimate of $11.38 billion. During the same period in the prior year, the firm earned $0.85 earnings per share. Pfizer’s revenue was down 8.3% on a year-over-year basis. On average, equities analysts predict that Pfizer Inc. will post 2.88 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, July 31st will be given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 4.30%. The ex-dividend date of this dividend is Thursday, July 30th. Pfizer’s dividend payout ratio (DPR) is currently 51.53%.
A number of research analysts have issued reports on the company. Mizuho began coverage on Pfizer in a research note on Monday, June 29th. They issued a “buy” rating and a $38.00 target price for the company. Piper Sandler increased their price target on Pfizer from $18.50 to $24.00 in a research report on Friday, June 26th. TheStreet upgraded Pfizer from a “c+” rating to a “b” rating in a research note on Monday, June 1st. Barclays dropped their price objective on Pfizer from $37.00 to $35.00 in a research note on Monday, June 1st. Finally, SVB Leerink assumed coverage on Pfizer in a research note on Tuesday, June 16th. They issued a “market perform” rating and a $40.00 price objective on the stock. Ten research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $38.72.
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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