Klingenstein Fields & Co. LLC Increases Holdings in Pfizer, Inc. (PFE)
Klingenstein Fields & Co. LLC raised its holdings in shares of Pfizer, Inc. (NYSE:PFE) by 4.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 314,822 shares of the biopharmaceutical company’s stock after purchasing an additional 12,570 shares during the quarter. Klingenstein Fields & Co. LLC’s holdings in Pfizer were worth $10,575,000 at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. Fisher Asset Management LLC increased its position in Pfizer by 3.9% during the 2nd quarter. Fisher Asset Management LLC now owns 34,035,362 shares of the biopharmaceutical company’s stock worth $1,143,248,000 after buying an additional 1,275,832 shares during the period. Schwab Charles Investment Management Inc. increased its position in Pfizer by 1.2% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 31,260,823 shares of the biopharmaceutical company’s stock worth $1,069,433,000 after buying an additional 377,404 shares during the period. Macquarie Group Ltd. increased its position in Pfizer by 0.9% during the 1st quarter. Macquarie Group Ltd. now owns 24,683,746 shares of the biopharmaceutical company’s stock worth $844,431,000 after buying an additional 228,405 shares during the period. Boston Partners increased its position in Pfizer by 7.3% during the 1st quarter. Boston Partners now owns 24,263,989 shares of the biopharmaceutical company’s stock worth $830,071,000 after buying an additional 1,649,801 shares during the period. Finally, Bank of Montreal Can increased its position in Pfizer by 1.2% during the 2nd quarter. Bank of Montreal Can now owns 18,534,159 shares of the biopharmaceutical company’s stock worth $622,562,000 after buying an additional 227,682 shares during the period. 68.98% of the stock is owned by institutional investors and hedge funds.
In other news, insider Alexander R. Mackenzie sold 15,000 shares of the stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $33.50, for a total transaction of $502,500.00. Following the transaction, the insider now directly owns 151,474 shares in the company, valued at approximately $5,074,379. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ian C. Read sold 96,950 shares of the stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $34.00, for a total value of $3,296,300.00. The disclosure for this sale can be found here. Insiders have sold a total of 464,521 shares of company stock worth $15,813,961 over the last quarter. Corporate insiders own 0.06% of the company’s stock.
Shares of Pfizer, Inc. (NYSE:PFE) opened at 36.24 on Friday. The firm has a market capitalization of $215.53 billion, a price-to-earnings ratio of 26.51 and a beta of 1.00. Pfizer, Inc. has a 1-year low of $29.83 and a 1-year high of $36.60. The company has a 50-day moving average price of $35.49 and a 200 day moving average price of $33.82.
Pfizer (NYSE:PFE) last announced its earnings results on Tuesday, August 1st. The biopharmaceutical company reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.02. The business had revenue of $12.90 billion for the quarter, compared to analyst estimates of $13.08 billion. Pfizer had a return on equity of 24.51% and a net margin of 15.84%. The company’s quarterly revenue was down 1.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.64 EPS. On average, equities research analysts predict that Pfizer, Inc. will post $2.56 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Friday, November 10th will be given a dividend of $0.32 per share. The ex-dividend date of this dividend is Thursday, November 9th. This represents a $1.28 annualized dividend and a dividend yield of 3.53%. Pfizer’s dividend payout ratio (DPR) is presently 94.12%.
Several research analysts have weighed in on PFE shares. Cowen and Company set a $43.00 price objective on Pfizer and gave the stock a “buy” rating in a research report on Monday, August 14th. UBS AG reiterated a “buy” rating and set a $38.00 price objective on shares of Pfizer in a research report on Monday, July 31st. Sanford C. Bernstein set a $39.00 price objective on Pfizer and gave the stock a “buy” rating in a research report on Monday, July 17th. BMO Capital Markets reiterated a “buy” rating and set a $37.00 price objective on shares of Pfizer in a research report on Wednesday, September 6th. Finally, Zacks Investment Research upgraded Pfizer from a “hold” rating to a “buy” rating and set a $40.00 price objective on the stock in a research report on Tuesday, October 3rd. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $38.26.
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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