Pfizer Inc. (PFE) Stake Lessened by Covington Capital Management
Covington Capital Management trimmed its holdings in Pfizer Inc. (NYSE:PFE) by 1.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 158,220 shares of the biopharmaceutical company’s stock after selling 2,100 shares during the quarter. Covington Capital Management’s holdings in Pfizer were worth $5,315,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also made changes to their positions in the company. Shine Investment Advisory Services Inc. acquired a new position in Pfizer during the 2nd quarter worth approximately $102,000. Mckinley Capital Management LLC Delaware acquired a new position in Pfizer during the 2nd quarter worth approximately $103,000. D. Scott Neal Inc. raised its stake in Pfizer by 19.3% during the 2nd quarter. D. Scott Neal Inc. now owns 3,112 shares of the biopharmaceutical company’s stock worth $105,000 after buying an additional 504 shares during the period. Franklin Parlapiano Turner & Welch LLC acquired a new position in Pfizer during the 1st quarter worth approximately $121,000. Finally, Herndon Capital Management LLC acquired a new position in Pfizer during the 2nd quarter worth approximately $120,000. 69.89% of the stock is currently owned by institutional investors.
A number of research firms recently weighed in on PFE. Deutsche Bank set a $38.00 price target on Pfizer and gave the stock a “buy” rating in a research note on Wednesday, October 11th. Barclays set a $38.00 price target on Pfizer and gave the stock a “buy” rating in a research note on Wednesday, October 11th. BMO Capital Markets set a $37.00 price target on Pfizer and gave the stock a “buy” rating in a research note on Tuesday, October 10th. Zacks Investment Research lowered Pfizer from a “buy” rating to a “hold” rating in a report on Wednesday, October 11th. Finally, Jefferies Group set a $38.00 price objective on Pfizer and gave the stock a “neutral” rating in a report on Monday, October 16th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $38.77.
Shares of Pfizer Inc. (NYSE:PFE) traded up $0.37 on Wednesday, reaching $36.58. The company’s stock had a trading volume of 22,485,900 shares, compared to its average volume of 19,926,613. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.43 and a quick ratio of 1.15. The company has a market cap of $215,837.20, a price-to-earnings ratio of 14.48, a P/E/G ratio of 2.56 and a beta of 1.01. Pfizer Inc. has a 1 year low of $30.90 and a 1 year high of $36.82.
Pfizer (NYSE:PFE) last released its earnings results on Tuesday, October 31st. The biopharmaceutical company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.02. The company had revenue of $13.17 billion during the quarter, compared to analyst estimates of $13.17 billion. Pfizer had a return on equity of 25.41% and a net margin of 18.69%. Pfizer’s quarterly revenue was up .9% on a year-over-year basis. During the same period in the prior year, the company posted $0.61 earnings per share. analysts expect that Pfizer Inc. will post 2.59 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Friday, November 10th were issued a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 3.50%. The ex-dividend date of this dividend was Thursday, November 9th. Pfizer’s dividend payout ratio is presently 79.01%.
In other news, insider Alexander R. Mackenzie sold 14,700 shares of the company’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $35.30, for a total value of $518,910.00. Following the completion of the transaction, the insider now directly owns 117,432 shares of the company’s stock, valued at $4,145,349.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Alexander R. Mackenzie sold 7,350 shares of the company’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $35.65, for a total value of $262,027.50. Following the completion of the transaction, the executive vice president now directly owns 117,432 shares of the company’s stock, valued at $4,186,450.80. The disclosure for this sale can be found here. Corporate insiders own 0.06% of the company’s stock.
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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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