Highland Capital Management LLC Boosts Position in Pfizer, Inc. (NYSE:PFE)
Highland Capital Management LLC raised its stake in shares of Pfizer, Inc. (NYSE:PFE) by 0.5% during the second quarter, Holdings Channel reports. The firm owned 343,096 shares of the biopharmaceutical company’s stock after buying an additional 1,815 shares during the period. Pfizer accounts for 0.9% of Highland Capital Management LLC’s portfolio, making the stock its 23rd largest position. Highland Capital Management LLC’s holdings in Pfizer were worth $11,525,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Asset Planning Services Ltd. raised its stake in Pfizer by 4.9% in the first quarter. Asset Planning Services Ltd. now owns 2,961 shares of the biopharmaceutical company’s stock valued at $101,000 after buying an additional 137 shares during the period. D. Scott Neal Inc. raised its stake in Pfizer by 19.3% in the second quarter. D. Scott Neal Inc. now owns 3,112 shares of the biopharmaceutical company’s stock valued at $105,000 after buying an additional 504 shares during the period. Orrstown Financial Services Inc. raised its stake in Pfizer by 23.0% in the first quarter. Orrstown Financial Services Inc. now owns 3,275 shares of the biopharmaceutical company’s stock valued at $112,000 after buying an additional 612 shares during the period. Franklin Parlapiano Turner & Welch LLC purchased a new stake in Pfizer during the first quarter valued at about $121,000. Finally, Cascade Investment Advisors Inc. raised its stake in Pfizer by 89.1% in the second quarter. Cascade Investment Advisors Inc. now owns 4,669 shares of the biopharmaceutical company’s stock valued at $157,000 after buying an additional 2,200 shares during the period. Institutional investors and hedge funds own 69.94% of the company’s stock.
Shares of Pfizer, Inc. (NYSE:PFE) traded up 0.015% on Monday, hitting $33.255. 5,278,721 shares of the stock were exchanged. The stock has a market cap of $198.46 billion, a PE ratio of 24.327 and a beta of 1.00. Pfizer, Inc. has a 52-week low of $29.83 and a 52-week high of $35.38. The company’s 50 day moving average is $33.40 and its 200-day moving average is $33.31.
Pfizer (NYSE:PFE) last released its earnings results on Tuesday, August 1st. The biopharmaceutical company reported $0.67 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.65 by $0.02. Pfizer had a net margin of 15.84% and a return on equity of 24.11%. The firm had revenue of $12.90 billion for the quarter, compared to analyst estimates of $13.08 billion. During the same period in the prior year, the firm earned $0.64 earnings per share. The business’s quarterly revenue was down 1.9% compared to the same quarter last year. Analysts predict that Pfizer, Inc. will post $2.56 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 4th will be paid a dividend of $0.32 per share. The ex-dividend date is Wednesday, August 2nd. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.85%. Pfizer’s payout ratio is 94.12%.
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Several equities research analysts have recently issued reports on the stock. Citigroup Inc. lowered shares of Pfizer from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $38.00 to $31.00 in a report on Tuesday, May 16th. BidaskClub upgraded shares of Pfizer from a “strong sell” rating to a “sell” rating in a report on Saturday, August 5th. Jefferies Group LLC set a $35.00 target price on shares of Pfizer and gave the stock a “neutral” rating in a report on Wednesday, August 2nd. BMO Capital Markets upgraded shares of Pfizer from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $33.00 to $37.00 in a report on Wednesday, August 2nd. Finally, Barclays PLC restated a “buy” rating and issued a $38.00 target price on shares of Pfizer in a report on Wednesday, May 3rd. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and ten have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $37.77.
In other Pfizer news, insider Alexander R. Mackenzie sold 15,000 shares of the stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $33.50, for a total value of $502,500.00. Following the transaction, the insider now directly owns 151,474 shares in the company, valued at $5,074,379. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ian C. Read sold 96,950 shares of the stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $34.00, for a total transaction of $3,296,300.00. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by corporate insiders.
Pfizer Inc (Pfizer) is a research-based global biopharmaceutical company. The Company is engaged in the discovery, development and manufacture of healthcare products. Its global portfolio includes medicines and vaccines, as well as consumer healthcare products. The Company manages its commercial operations through two business segments: Pfizer Innovative Health (IH) and Pfizer Essential Health (EH).
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