Fosun International Ltd lessened its stake in Pfizer Inc. (NYSE:PFE) by 7.3% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 484,044 shares of the biopharmaceutical company’s stock after selling 38,308 shares during the quarter. Pfizer makes up about 1.1% of Fosun International Ltd’s portfolio, making the stock its 15th biggest holding. Fosun International Ltd’s holdings in Pfizer were worth $18,955,000 as of its most recent filing with the SEC.
Several other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. increased its stake in Pfizer by 0.3% in the second quarter. BlackRock Inc. now owns 407,048,272 shares of the biopharmaceutical company’s stock valued at $15,940,011,000 after purchasing an additional 1,314,302 shares during the last quarter. Geode Capital Management LLC increased its position in Pfizer by 4.1% during the 1st quarter. Geode Capital Management LLC now owns 94,148,117 shares of the biopharmaceutical company’s stock worth $3,402,339,000 after purchasing an additional 3,699,308 shares in the last quarter. Legal & General Group Plc grew its holdings in Pfizer by 4.0% in the 2nd quarter. Legal & General Group Plc now owns 37,393,513 shares of the biopharmaceutical company’s stock valued at $1,464,331,000 after buying an additional 1,434,331 shares during the period. Sanders Capital LLC grew its holdings in shares of Pfizer by 4.0% during the 2nd quarter. Sanders Capital LLC now owns 33,474,985 shares of the biopharmaceutical company’s stock worth $1,458,587,000 after purchasing an additional 1,272,869 shares during the period. Finally, Franklin Resources Inc. raised its position in shares of Pfizer by 39.6% in the 1st quarter. Franklin Resources Inc. now owns 26,553,208 shares of the biopharmaceutical company’s stock valued at $962,030,000 after purchasing an additional 7,532,823 shares in the last quarter. 64.93% of the stock is owned by institutional investors and hedge funds.
A number of research analysts recently commented on the company. Royal Bank of Canada set a $44.00 price objective on Pfizer in a research note on Thursday, July 29th. Morgan Stanley increased their price objective on Pfizer from $42.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 29th. SVB Leerink increased their price objective on Pfizer from $49.00 to $50.00 and gave the company a “market perform” rating in a report on Monday, September 20th. JPMorgan Chase & Co. increased their target price on Pfizer from $40.00 to $42.00 and gave the company a “neutral” rating in a research note on Monday, September 13th. Finally, Berenberg Bank reiterated a “neutral” rating and issued a $43.00 price objective on shares of Pfizer in a research report on Tuesday, June 15th. Eleven equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $42.85.
Pfizer (NYSE:PFE) last released its earnings results on Wednesday, July 28th. The biopharmaceutical company reported $1.07 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.10. Pfizer had a net margin of 23.06% and a return on equity of 26.49%. The company had revenue of $18.98 billion for the quarter, compared to the consensus estimate of $17.54 billion. During the same quarter in the previous year, the firm earned $0.78 EPS. Analysts expect that Pfizer Inc. will post 4.12 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 6th. Investors of record on Friday, November 5th will be paid a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 3.64%. The ex-dividend date is Thursday, November 4th. Pfizer’s dividend payout ratio is currently 70.27%.
In other Pfizer news, SVP Jennifer B. Damico sold 1,661 shares of the company’s stock in a transaction dated Friday, August 13th. The shares were sold at an average price of $48.30, for a total value of $80,226.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Jennifer B. Damico sold 2,500 shares of the stock in a transaction dated Friday, July 30th. The stock was sold at an average price of $42.86, for a total transaction of $107,150.00. Following the sale, the senior vice president now directly owns 11,430 shares in the company, valued at approximately $489,889.80. The disclosure for this sale can be found here. 0.05% of the stock is currently owned by insiders.
Pfizer Inc is a research-based global biopharmaceutical company. It engages in the discovery, development, manufacture, marketing, sales and distribution of biopharmaceutical products worldwide. The firm work across developed and emerging markets to advance wellness, prevention, treatments and cures that challenge the most feared diseases.
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