Bay Harbor Wealth Management LLC lowered its holdings in Pfizer Inc. (NYSE:PFE) by 44.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,127 shares of the biopharmaceutical company’s stock after selling 2,462 shares during the quarter. Bay Harbor Wealth Management LLC’s holdings in Pfizer were worth $115,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of PFE. Natixis grew its position in Pfizer by 528.1% in the 3rd quarter. Natixis now owns 3,814,480 shares of the biopharmaceutical company’s stock valued at $139,991,000 after purchasing an additional 3,207,172 shares during the period. Morgan Stanley boosted its holdings in Pfizer by 6.4% during the 3rd quarter. Morgan Stanley now owns 46,069,866 shares of the biopharmaceutical company’s stock worth $1,690,763,000 after acquiring an additional 2,777,676 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its holdings in Pfizer by 36.1% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 9,794,442 shares of the biopharmaceutical company’s stock worth $359,457,000 after acquiring an additional 2,599,629 shares during the last quarter. Jupiter Asset Management Ltd. purchased a new position in Pfizer during the 3rd quarter worth $39,411,000. Finally, First Trust Advisors LP boosted its holdings in Pfizer by 12.8% during the 3rd quarter. First Trust Advisors LP now owns 8,578,720 shares of the biopharmaceutical company’s stock worth $314,839,000 after acquiring an additional 972,021 shares during the last quarter. 67.36% of the stock is owned by institutional investors and hedge funds.
PFE has been the topic of a number of analyst reports. Zacks Investment Research raised shares of Pfizer from a “sell” rating to a “hold” rating and set a $37.00 price objective on the stock in a report on Thursday, October 29th. The Goldman Sachs Group set a $40.00 price objective on shares of Pfizer and gave the stock a “neutral” rating in a report on Thursday, January 21st. SVB Leerink cut their price objective on shares of Pfizer from $44.00 to $40.00 and set a “market perform” rating on the stock in a report on Wednesday, February 3rd. Sanford C. Bernstein initiated coverage on shares of Pfizer in a report on Tuesday, November 10th. They issued a “market perform” rating and a $42.00 price target on the stock. Finally, Royal Bank of Canada set a $42.00 price target on shares of Pfizer and gave the stock a “neutral” rating in a report on Monday, January 4th. Eleven research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Pfizer currently has an average rating of “Hold” and an average price target of $39.38.
Pfizer (NYSE:PFE) last announced its quarterly earnings data on Tuesday, February 2nd. The biopharmaceutical company reported $0.42 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.46 by ($0.04). Pfizer had a net margin of 17.85% and a return on equity of 24.88%. The firm had revenue of $11.68 billion during the quarter, compared to the consensus estimate of $11.32 billion. During the same quarter in the prior year, the firm posted $0.55 earnings per share. The company’s revenue was up 11.8% on a year-over-year basis. Equities research analysts expect that Pfizer Inc. will post 2.89 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 5th. Investors of record on Friday, January 29th will be paid a $0.39 dividend. This is a boost from Pfizer’s previous quarterly dividend of $0.38. This represents a $1.56 dividend on an annualized basis and a yield of 4.58%. The ex-dividend date is Thursday, January 28th. Pfizer’s payout ratio is currently 52.88%.
Pfizer Inc develops, manufactures, and sells healthcare products worldwide. It offers medicines and vaccines in various therapeutic areas, including cardiovascular metabolic and pain under the Eliquis, Chantix/Champix, and Premarin family brands; biologics, small molecules, immunotherapies, and biosimilars under the Ibrance, Sutent, Xtandi, Xalkori, Inlyta, Braftovi + Mektovi brands; and sterile injectable and anti-infective medicines under the Sulperazon, Medrol, Vfend, and Zithromax brands.
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