LPL Financial LLC Buys 210,405 Shares of Pfizer Inc. (PFE)
LPL Financial LLC increased its stake in shares of Pfizer Inc. (NYSE:PFE) by 13.3% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 1,792,577 shares of the biopharmaceutical company’s stock after acquiring an additional 210,405 shares during the quarter. LPL Financial LLC’s holdings in Pfizer were worth $63,619,000 as of its most recent SEC filing.
A number of other institutional investors also recently made changes to their positions in PFE. Ballew Advisors Inc purchased a new position in Pfizer in the first quarter worth $102,000. Earnest Partners LLC purchased a new position in Pfizer in the fourth quarter worth $105,000. First Dallas Securities Inc. purchased a new position in Pfizer in the fourth quarter worth $118,000. Woodard & Co. Asset Management Group Inc. ADV purchased a new position in Pfizer in the fourth quarter worth $118,000. Finally, Delpha Capital Management LLC purchased a new position in Pfizer in the fourth quarter worth $126,000. Institutional investors and hedge funds own 69.28% of the company’s stock.
In other news, insider Laurie J. Olson sold 10,214 shares of the company’s stock in a transaction on Monday, August 13th. The stock was sold at an average price of $41.00, for a total transaction of $418,774.00. Following the transaction, the insider now owns 72,672 shares of the company’s stock, valued at approximately $2,979,552. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director W Don Cornwell sold 5,223 shares of the company’s stock in a transaction on Monday, June 4th. The shares were sold at an average price of $36.40, for a total value of $190,117.20. The disclosure for this sale can be found here. Insiders have sold a total of 785,453 shares of company stock worth $29,937,357 in the last ninety days. Insiders own 0.06% of the company’s stock.
Pfizer (NYSE:PFE) last issued its quarterly earnings results on Tuesday, July 31st. The biopharmaceutical company reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.07. Pfizer had a return on equity of 25.35% and a net margin of 42.35%. The firm had revenue of $13.47 billion for the quarter, compared to analysts’ expectations of $13.30 billion. During the same quarter in the prior year, the firm earned $0.67 EPS. The business’s revenue for the quarter was up 4.4% compared to the same quarter last year. research analysts expect that Pfizer Inc. will post 2.99 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 4th. Stockholders of record on Friday, August 3rd will be given a dividend of $0.34 per share. The ex-dividend date of this dividend is Thursday, August 2nd. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.23%. Pfizer’s dividend payout ratio is presently 51.32%.
PFE has been the topic of several research analyst reports. Societe Generale reissued a “neutral” rating and issued a $39.00 price objective on shares of Pfizer in a research report on Wednesday, May 30th. Goldman Sachs Group reissued a “neutral” rating and issued a $42.00 price objective on shares of Pfizer in a research report on Wednesday, August 1st. Cantor Fitzgerald initiated coverage on Pfizer in a research report on Thursday, June 7th. They issued an “overweight” rating and a $45.00 price objective on the stock. Morgan Stanley reissued a “buy” rating and issued a $43.00 price objective on shares of Pfizer in a research report on Monday, June 11th. Finally, Credit Suisse Group set a $39.00 price objective on Pfizer and gave the stock a “hold” rating in a research report on Tuesday, July 31st. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and nine have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $40.95.
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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