IFM Investors Pty Ltd Acquires 3,062 Shares of Pfizer Inc. (PFE)
IFM Investors Pty Ltd grew its holdings in shares of Pfizer Inc. (NYSE:PFE) by 1.9% in the third quarter, HoldingsChannel.com reports. The fund owned 167,460 shares of the biopharmaceutical company’s stock after purchasing an additional 3,062 shares during the quarter. Pfizer makes up about 1.0% of IFM Investors Pty Ltd’s portfolio, making the stock its 16th largest holding. IFM Investors Pty Ltd’s holdings in Pfizer were worth $5,978,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also modified their holdings of the company. Shine Investment Advisory Services Inc. bought a new stake in shares of Pfizer during the 2nd quarter valued at $102,000. Mckinley Capital Management LLC Delaware bought a new stake in shares of Pfizer during the 2nd quarter valued at $103,000. Herndon Capital Management LLC bought a new stake in shares of Pfizer during the 2nd quarter valued at $120,000. Lipe & Dalton grew its position in shares of Pfizer by 6.9% during the 2nd quarter. Lipe & Dalton now owns 4,626 shares of the biopharmaceutical company’s stock valued at $155,000 after acquiring an additional 300 shares during the period. Finally, Legacy Advisors LLC bought a new stake in shares of Pfizer during the 3rd quarter valued at $164,000. 70.12% of the stock is owned by hedge funds and other institutional investors.
Shares of Pfizer Inc. (NYSE:PFE) opened at $35.95 on Friday. The company has a market cap of $214,290.00, a price-to-earnings ratio of 20.54, a price-to-earnings-growth ratio of 2.05 and a beta of 0.91. Pfizer Inc. has a one year low of $31.67 and a one year high of $39.43. The company has a quick ratio of 1.10, a current ratio of 1.35 and a debt-to-equity ratio of 0.47.
The business also recently declared a quarterly dividend, which was paid on Thursday, March 1st. Shareholders of record on Friday, February 2nd were paid a $0.34 dividend. The ex-dividend date was Thursday, February 1st. This represents a $1.36 annualized dividend and a yield of 3.78%. This is a boost from Pfizer’s previous quarterly dividend of $0.32. Pfizer’s payout ratio is presently 77.71%.
Pfizer announced that its Board of Directors has approved a stock repurchase program on Monday, December 18th that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the biopharmaceutical company to reacquire shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.
A number of research analysts recently weighed in on the stock. BMO Capital Markets restated a “buy” rating and set a $39.00 target price on shares of Pfizer in a research note on Friday, November 10th. UBS Group set a $40.00 target price on shares of Pfizer and gave the company a “buy” rating in a research note on Wednesday, December 6th. Deutsche Bank set a $38.00 target price on shares of Pfizer and gave the company a “buy” rating in a research note on Wednesday, December 6th. Vetr upgraded shares of Pfizer from a “hold” rating to a “buy” rating and set a $38.82 target price on the stock in a research note on Thursday, November 23rd. Finally, Morgan Stanley set a $41.00 target price on shares of Pfizer and gave the company a “buy” rating in a research note on Friday, January 5th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and eleven have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $39.40.
In other Pfizer news, insider Alexander R. Mackenzie sold 6,750 shares of the business’s stock in a transaction on Friday, December 15th. The shares were sold at an average price of $37.00, for a total value of $249,750.00. Following the sale, the insider now owns 103,458 shares in the company, valued at approximately $3,827,946. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director W Don Cornwell sold 1,758 shares of the business’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $36.79, for a total transaction of $64,676.82. Following the completion of the sale, the director now owns 1,000 shares in the company, valued at approximately $36,790. The disclosure for this sale can be found here. In the last quarter, insiders sold 59,386 shares of company stock worth $2,200,281. Corporate insiders own 0.06% of the company’s stock.
Pfizer Company Profile
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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