Edmp Inc. Cuts Stake in Pfizer Inc. (PFE)
Edmp Inc. lessened its holdings in shares of Pfizer Inc. (NYSE:PFE) by 2.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 96,323 shares of the biopharmaceutical company’s stock after selling 1,940 shares during the period. Pfizer accounts for about 3.6% of Edmp Inc.’s investment portfolio, making the stock its 9th biggest holding. Edmp Inc.’s holdings in Pfizer were worth $3,495,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also added to or reduced their stakes in PFE. Ballew Advisors Inc acquired a new position in shares of Pfizer during the first quarter valued at approximately $102,000. Earnest Partners LLC acquired a new position in shares of Pfizer during the fourth quarter valued at approximately $105,000. Woodard & Co. Asset Management Group Inc. ADV acquired a new position in shares of Pfizer during the fourth quarter valued at approximately $118,000. Delpha Capital Management LLC acquired a new position in shares of Pfizer during the fourth quarter valued at approximately $126,000. Finally, W.G. Shaheen & Associates DBA Whitney & Co acquired a new position in shares of Pfizer during the first quarter valued at approximately $132,000. 68.91% of the stock is currently owned by institutional investors.
Pfizer stock opened at $43.93 on Tuesday. The company has a current ratio of 1.16, a quick ratio of 0.91 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $262.28 billion, a price-to-earnings ratio of 16.58, a price-to-earnings-growth ratio of 2.23 and a beta of 0.96. Pfizer Inc. has a 1 year low of $33.20 and a 1 year high of $44.46.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 4th. Shareholders of record on Friday, August 3rd were given a $0.34 dividend. The ex-dividend date was Thursday, August 2nd. This represents a $1.36 annualized dividend and a yield of 3.10%. Pfizer’s dividend payout ratio (DPR) is 51.32%.
A number of research analysts recently commented on PFE shares. Credit Suisse Group raised their price objective on shares of Pfizer from $39.00 to $40.00 and gave the company a “neutral” rating in a research note on Wednesday, August 1st. Morgan Stanley set a $45.00 price objective on shares of Pfizer and gave the company a “buy” rating in a research note on Wednesday, August 29th. Bank of America raised their price objective on shares of Pfizer from $42.00 to $43.00 and gave the company a “buy” rating in a research note on Wednesday, August 1st. JPMorgan Chase & Co. reiterated a “$37.66” rating on shares of Pfizer in a research note on Wednesday, July 18th. Finally, Zacks Investment Research lowered shares of Pfizer from a “buy” rating to a “hold” rating in a research note on Sunday, July 15th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and nine have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $41.89.
In other Pfizer news, insider Laurie J. Olson sold 10,214 shares of Pfizer stock in a transaction that occurred on Monday, August 13th. The shares were sold at an average price of $41.00, for a total value of $418,774.00. Following the transaction, the insider now owns 72,672 shares in the company, valued at $2,979,552. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Ian C. Read sold 486,753 shares of Pfizer stock in a transaction that occurred on Monday, July 16th. The stock was sold at an average price of $37.36, for a total transaction of $18,185,092.08. Following the completion of the transaction, the chief executive officer now owns 1,145,693 shares in the company, valued at approximately $42,803,090.48. The disclosure for this sale can be found here. In the last 90 days, insiders sold 761,230 shares of company stock worth $29,054,690. 0.06% of the stock is currently owned by company insiders.
Pfizer Inc discovers, develops, manufactures, and sells healthcare products worldwide. It operates in two segments, Pfizer Innovative Health (IH) and Pfizer Essential Health (EH). The IH segment focuses on the development and commercialization of medicines and vaccines, and consumer healthcare products in various therapeutic areas, including internal medicine, vaccines, oncology, inflammation and immunology, and rare diseases, as well as consumer healthcare, such as over-the-counter brands comprising dietary supplements, pain management, gastrointestinal, and respiratory and personal care.
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