Bay Harbor Wealth Management LLC cut its holdings in shares of Pfizer Inc. (NYSE:PFE) by 43.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,767 shares of the biopharmaceutical company’s stock after selling 1,360 shares during the quarter. Bay Harbor Wealth Management LLC’s holdings in Pfizer were worth $64,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of PFE. Bank of New York Mellon Corp raised its holdings in shares of Pfizer by 12.1% in the 4th quarter. Bank of New York Mellon Corp now owns 64,756,839 shares of the biopharmaceutical company’s stock valued at $2,383,700,000 after purchasing an additional 6,965,496 shares during the period. Norges Bank bought a new stake in shares of Pfizer in the 4th quarter valued at about $2,219,532,000. Morgan Stanley raised its holdings in shares of Pfizer by 16.4% in the 4th quarter. Morgan Stanley now owns 53,610,111 shares of the biopharmaceutical company’s stock valued at $1,973,389,000 after purchasing an additional 7,540,245 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Pfizer by 5.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 42,009,283 shares of the biopharmaceutical company’s stock valued at $1,546,362,000 after purchasing an additional 2,012,367 shares during the period. Finally, Sanders Capital LLC raised its holdings in shares of Pfizer by 10.6% in the 4th quarter. Sanders Capital LLC now owns 31,947,816 shares of the biopharmaceutical company’s stock valued at $1,280,997,000 after purchasing an additional 3,051,838 shares during the period. 67.36% of the stock is currently owned by hedge funds and other institutional investors.
In related news, SVP Jennifer B. Damico sold 2,500 shares of the stock in a transaction that occurred on Wednesday, May 5th. The shares were sold at an average price of $40.82, for a total transaction of $102,050.00. Following the sale, the senior vice president now owns 13,748 shares in the company, valued at approximately $561,193.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.08% of the company’s stock.
Pfizer (NYSE:PFE) last posted its quarterly earnings results on Tuesday, May 4th. The biopharmaceutical company reported $0.93 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.78 by $0.15. The business had revenue of $14.58 billion for the quarter, compared to analyst estimates of $13.41 billion. Pfizer had a net margin of 17.85% and a return on equity of 24.88%. The firm’s revenue for the quarter was up 44.6% on a year-over-year basis. During the same quarter last year, the business posted $0.80 EPS. On average, research analysts expect that Pfizer Inc. will post 2.89 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 4th. Investors of record on Friday, May 7th will be given a dividend of $0.39 per share. The ex-dividend date is Thursday, May 6th. This represents a $1.56 annualized dividend and a dividend yield of 3.90%. Pfizer’s dividend payout ratio is 52.88%.
A number of brokerages have recently issued reports on PFE. Mizuho reaffirmed a “neutral” rating and issued a $42.00 target price on shares of Pfizer in a report on Wednesday, May 12th. SVB Leerink increased their price target on shares of Pfizer from $39.00 to $43.00 and gave the company a “market perform” rating in a report on Tuesday, May 11th. Royal Bank of Canada assumed coverage on shares of Pfizer in a report on Wednesday, April 7th. They issued a “sector perform” rating and a $42.00 price target on the stock. Barclays increased their price target on shares of Pfizer from $37.00 to $40.00 and gave the company an “equal weight” rating in a report on Wednesday, May 5th. Finally, Berenberg Bank reissued a “neutral” rating and issued a $38.00 price target on shares of Pfizer in a report on Tuesday, March 23rd. Twelve analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $39.74.
Pfizer Inc discovers, develops, manufactures, markets, distributes, and sells biopharmaceutical 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, Xtandi, Sutent, Inlyta, Retacrit, Lorbrena, and Braftovi brands; and sterile injectable and anti-infective medicines under the Sulperazon, Medrol, Zithromax, Vfend, and Panzyga brands.
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