Ridgewood Investments LLC Increases Stock Position in Pfizer Inc. (NYSE:PFE)
Ridgewood Investments LLC grew its holdings in Pfizer Inc. (NYSE:PFE) by 5.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,927 shares of the biopharmaceutical company’s stock after purchasing an additional 1,084 shares during the period. Ridgewood Investments LLC’s holdings in Pfizer were worth $805,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of PFE. Corbett Road Capital Management LLC bought a new stake in Pfizer in the 2nd quarter worth approximately $25,000. Reitz Capital Advisors LLC bought a new stake in shares of Pfizer during the 2nd quarter valued at about $29,000. Disciplined Investments LLC boosted its holdings in shares of Pfizer by 43.3% in the first quarter. Disciplined Investments LLC now owns 1,148 shares of the biopharmaceutical company’s stock worth $37,000 after buying an additional 347 shares during the last quarter. Rocky Mountain Advisers LLC increased its holdings in Pfizer by 847.5% during the second quarter. Rocky Mountain Advisers LLC now owns 1,118 shares of the biopharmaceutical company’s stock valued at $37,000 after buying an additional 1,000 shares during the last quarter. Finally, JJJ Advisors Inc. purchased a new stake in Pfizer during the second quarter valued at approximately $44,000. 69.08% of the stock is owned by institutional investors and hedge funds.
In other news, Director Ronald E. Blaylock purchased 13,000 shares of the business’s stock in a transaction that occurred on Thursday, August 6th. The shares were bought at an average cost of $38.55 per share, for a total transaction of $501,150.00. Following the acquisition, the director now owns 4,000 shares of the company’s stock, valued at approximately $154,200. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.08% of the company’s stock.
Pfizer (NYSE:PFE) last released its quarterly earnings results on Tuesday, July 28th. The biopharmaceutical company reported $0.78 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.64 by $0.14. Pfizer had a return on equity of 25.11% and a net margin of 28.80%. The company had revenue of $11.80 billion during the quarter, compared to analyst estimates of $11.55 billion. During the same quarter last year, the business posted $0.80 earnings per share. The firm’s revenue was down 11.0% on a year-over-year basis. As a group, sell-side analysts expect that Pfizer Inc. will post 2.89 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Friday, November 6th will be issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.01%. The ex-dividend date is Thursday, November 5th. Pfizer’s dividend payout ratio (DPR) is 51.53%.
Several research firms have recently commented on PFE. UBS Group upped their price objective on Pfizer from $37.00 to $39.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 29th. Atlantic Securities cut shares of Pfizer from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $44.00 to $39.00 in a research note on Monday, October 12th. Morgan Stanley upped their price target on shares of Pfizer from $36.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 30th. Piper Sandler increased their price objective on shares of Pfizer from $18.50 to $24.00 in a research note on Friday, June 26th. Finally, SVB Leerink lifted their target price on shares of Pfizer from $39.00 to $42.00 and gave the company a “market perform” rating in a research note on Wednesday, July 29th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $39.64.
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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