Pfizer Inc. (PFE) Shares Bought by Sterling Investment Management Inc.
Sterling Investment Management Inc. lifted its position in Pfizer Inc. (NYSE:PFE) by 2.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 19,155 shares of the biopharmaceutical company’s stock after purchasing an additional 449 shares during the quarter. Pfizer comprises approximately 0.7% of Sterling Investment Management Inc.’s portfolio, making the stock its 29th largest holding. Sterling Investment Management Inc.’s holdings in Pfizer were worth $836,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in PFE. Old Port Advisors acquired a new stake in Pfizer in the second quarter worth $3,161,000. Legacy Capital Partners Inc. increased its position in Pfizer by 2.7% in the third quarter. Legacy Capital Partners Inc. now owns 70,004 shares of the biopharmaceutical company’s stock worth $3,084,000 after buying an additional 1,821 shares during the period. Moon Capital Management LLC acquired a new stake in Pfizer in the third quarter worth $240,000. First American Trust FSB increased its position in Pfizer by 9.0% in the third quarter. First American Trust FSB now owns 183,621 shares of the biopharmaceutical company’s stock worth $8,092,000 after buying an additional 15,196 shares during the period. Finally, Sound Income Strategies LLC increased its position in Pfizer by 30.5% in the third quarter. Sound Income Strategies LLC now owns 37,426 shares of the biopharmaceutical company’s stock worth $1,649,000 after buying an additional 8,746 shares during the period. 69.53% of the stock is currently owned by hedge funds and other institutional investors.
NYSE:PFE opened at $42.84 on Wednesday. The stock has a market cap of $256.81 billion, a P/E ratio of 14.28, a PEG ratio of 2.58 and a beta of 0.75. Pfizer Inc. has a 52-week low of $34.37 and a 52-week high of $46.47. The company has a current ratio of 1.57, a quick ratio of 1.33 and a debt-to-equity ratio of 0.52.
Pfizer declared that its board has initiated a share repurchase program on Friday, December 14th that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the biopharmaceutical company to repurchase up to 3.8% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
In related news, insider Mikael Dolsten sold 100,471 shares of Pfizer stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $43.56, for a total transaction of $4,376,516.76. Following the transaction, the insider now directly owns 390,097 shares of the company’s stock, valued at $16,992,625.32. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Alexander R. Mackenzie sold 15,000 shares of Pfizer stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $42.83, for a total value of $642,450.00. Following the transaction, the insider now directly owns 124,994 shares in the company, valued at $5,353,493.02. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 332,526 shares of company stock worth $14,346,539. 0.09% of the stock is owned by corporate insiders.
Several equities research analysts have weighed in on the company. Credit Suisse Group set a $45.00 target price on Pfizer and gave the stock a “hold” rating in a research report on Thursday, December 13th. JPMorgan Chase & Co. lowered Pfizer from an “overweight” rating to a “neutral” rating and set a $46.00 target price on the stock. in a research report on Tuesday, December 11th. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $53.00 target price on shares of Pfizer in a research report on Tuesday, December 11th. Zacks Investment Research raised Pfizer from a “sell” rating to a “hold” rating in a research report on Wednesday, April 3rd. Finally, Bank of America increased their target price on Pfizer from $45.00 to $48.00 and gave the stock a “buy” rating in a research report on Monday, April 1st. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and seven have assigned a buy rating to the company. Pfizer currently has a consensus rating of “Hold” and an average target price of $45.16.
Pfizer Inc discovers, develops, manufactures, and sells healthcare products worldwide. It offers medicines and vaccines in various therapeutic areas, including internal medicine, vaccines, oncology, inflammation and immunology, and rare diseases under the Lyrica, Chantix/Champix, Eliquis, Ibrance, Sutent, Xalkori, Inlyta, Xtandi, Enbrel, Xeljanz, Eucrisa, BeneFix, Genotropin, and Refacto AF/Xyntha brands.
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