Pfizer, Inc. (PFE) Stake Decreased by Rehmann Capital Advisory Group
Rehmann Capital Advisory Group cut its stake in Pfizer, Inc. (NYSE:PFE) by 7.3% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 111,609 shares of the biopharmaceutical company’s stock after selling 8,765 shares during the period. Pfizer makes up about 0.7% of Rehmann Capital Advisory Group’s investment portfolio, making the stock its 27th largest position. Rehmann Capital Advisory Group’s holdings in Pfizer were worth $3,749,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Norges Bank acquired a new position in Pfizer during the fourth quarter valued at about $1,896,890,000. Fisher Asset Management LLC boosted its position in Pfizer by 3.9% in the second quarter. Fisher Asset Management LLC now owns 34,035,362 shares of the biopharmaceutical company’s stock valued at $1,143,248,000 after buying an additional 1,275,832 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its position in Pfizer by 1.2% in the first quarter. Schwab Charles Investment Management Inc. now owns 31,260,823 shares of the biopharmaceutical company’s stock valued at $1,069,433,000 after buying an additional 377,404 shares during the last quarter. Macquarie Group Ltd. boosted its position in Pfizer by 0.9% in the first quarter. Macquarie Group Ltd. now owns 24,683,746 shares of the biopharmaceutical company’s stock valued at $844,431,000 after buying an additional 228,405 shares during the last quarter. Finally, Boston Partners boosted its position in Pfizer by 7.3% in the first quarter. Boston Partners now owns 24,263,989 shares of the biopharmaceutical company’s stock valued at $830,071,000 after buying an additional 1,649,801 shares during the last quarter. 70.10% of the stock is owned by institutional investors.
Pfizer, Inc. (PFE) traded down 0.045% on Thursday, reaching $33.435. The company had a trading volume of 6,058,145 shares. The firm has a 50 day moving average price of $33.44 and a 200-day moving average price of $33.30. The stock has a market capitalization of $199.53 billion, a price-to-earnings ratio of 24.459 and a beta of 1.00. Pfizer, Inc. has a 12 month low of $29.83 and a 12 month high of $35.38.
Pfizer (NYSE:PFE) last posted its quarterly earnings results on Tuesday, August 1st. The biopharmaceutical company reported $0.67 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.02. Pfizer had a return on equity of 24.11% and a net margin of 15.84%. The business had revenue of $12.90 billion for the quarter, compared to analyst estimates of $13.08 billion. During the same period last year, the company earned $0.64 EPS. The firm’s revenue was down 1.9% on a year-over-year basis. Analysts forecast that Pfizer, Inc. will post $2.56 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Friday, August 4th will be given a $0.32 dividend. The ex-dividend date of this dividend is Wednesday, August 2nd. This represents a $1.28 annualized dividend and a dividend yield of 3.83%. Pfizer’s dividend payout ratio is currently 94.12%.
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Several research analysts have recently issued reports on PFE shares. Sanford C. Bernstein reissued a “buy” rating and issued a $35.00 price target on shares of Pfizer in a research note on Monday, April 24th. Jefferies Group LLC restated a “hold” rating and issued a $35.00 price objective (up previously from $34.00) on shares of Pfizer in a report on Friday, July 14th. BidaskClub lowered Pfizer from a “sell” rating to a “strong sell” rating in a report on Thursday, July 13th. Zacks Investment Research upgraded Pfizer from a “sell” rating to a “hold” rating in a report on Friday, July 14th. Finally, Morgan Stanley restated a “neutral” rating and issued a $35.00 price objective (down previously from $38.00) on shares of Pfizer in a report on Monday, June 12th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and ten have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $37.77.
In other Pfizer news, CEO Ian C. Read sold 96,950 shares of Pfizer stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $34.00, for a total transaction of $3,296,300.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Alexander R. Mackenzie sold 15,000 shares of Pfizer stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $33.50, for a total value of $502,500.00. Following the transaction, the insider now owns 151,474 shares in the company, valued at $5,074,379. The disclosure for this sale can be found here. 0.06% of the stock is owned by company insiders.
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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