Pfizer, Inc. (NYSE:PFE) Position Cut by Atalanta Sosnoff Capital LLC
Atalanta Sosnoff Capital LLC lowered its stake in shares of Pfizer, Inc. (NYSE:PFE) by 9.0% during the second quarter, Holdings Channel reports. The fund owned 692,882 shares of the biopharmaceutical company’s stock after selling 68,788 shares during the period. Atalanta Sosnoff Capital LLC’s holdings in Pfizer were worth $23,274,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank acquired a new position in Pfizer during the fourth quarter valued at $1,896,890,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new position in Pfizer during the fourth quarter valued at $289,666,000. Appaloosa LP acquired a new position in Pfizer during the fourth quarter valued at $156,229,000. I.G. Investment Management LTD. raised its position in Pfizer by 24.7% in the fourth quarter. I.G. Investment Management LTD. now owns 11,087,884 shares of the biopharmaceutical company’s stock valued at $360,134,000 after buying an additional 2,194,738 shares during the last quarter. Finally, Macquarie Group Ltd. raised its position in Pfizer by 8.2% in the fourth quarter. Macquarie Group Ltd. now owns 24,455,341 shares of the biopharmaceutical company’s stock valued at $794,310,000 after buying an additional 1,845,343 shares during the last quarter. 69.94% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Pfizer, Inc. (PFE) traded up 0.015% during mid-day trading on Monday, reaching $33.255. The company had a trading volume of 5,278,667 shares. The company has a market capitalization of $198.46 billion, a price-to-earnings ratio of 24.327 and a beta of 1.00. The firm’s 50-day moving average is $33.40 and its 200 day moving average is $33.31. Pfizer, Inc. has a 12 month low of $29.83 and a 12 month high of $35.38.
Pfizer (NYSE:PFE) last issued its quarterly earnings data on Tuesday, August 1st. The biopharmaceutical company reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.02. Pfizer had a return on equity of 24.11% and a net margin of 15.84%. The company had revenue of $12.90 billion during the quarter, compared to analysts’ expectations of $13.08 billion. During the same quarter in the previous year, the company posted $0.64 earnings per share. The business’s revenue was down 1.9% on a year-over-year basis. On average, equities research analysts predict that Pfizer, Inc. will post $2.56 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Friday, August 4th will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.85%. The ex-dividend date of this dividend is Wednesday, August 2nd. Pfizer’s dividend payout ratio is presently 94.12%.
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Several research analysts recently weighed in on PFE shares. Citigroup Inc. lowered Pfizer from a “neutral” rating to a “sell” rating and dropped their price target for the company from $38.00 to $31.00 in a research report on Tuesday, May 16th. Zacks Investment Research raised Pfizer from a “sell” rating to a “hold” rating in a research report on Friday, July 14th. Barclays PLC reissued a “buy” rating and set a $38.00 price target on shares of Pfizer in a research report on Wednesday, May 3rd. Sanford C. Bernstein reaffirmed a “buy” rating and issued a $37.00 target price on shares of Pfizer in a research report on Wednesday, May 3rd. Finally, BMO Capital Markets reaffirmed a “hold” rating and issued a $33.00 target price on shares of Pfizer in a research report on Thursday, April 27th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and ten have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $37.77.
In related news, CEO Ian C. Read sold 96,950 shares of the business’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $34.00, for a total value of $3,296,300.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Alexander R. Mackenzie sold 15,000 shares of the business’s 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 completion of the sale, the insider now owns 151,474 shares of the company’s stock, valued at $5,074,379. The disclosure for this sale can be found here. 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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