State Street Corp Has $10.94 Billion Stake in Pfizer, Inc. (PFE)
State Street Corp lowered its stake in Pfizer, Inc. (NYSE:PFE) by 0.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 319,741,558 shares of the biopharmaceutical company’s stock after selling 1,052,641 shares during the period. Pfizer makes up about 1.0% of State Street Corp’s investment portfolio, making the stock its 12th largest position. State Street Corp owned approximately 0.05% of Pfizer worth $10,938,365,000 at the end of the most recent quarter.
A number of other institutional investors have also bought and sold shares of PFE. D Orazio & Associates Inc. increased its position in Pfizer by 0.5% in the fourth quarter. D Orazio & Associates Inc. now owns 5,223 shares of the biopharmaceutical company’s stock valued at $170,000 after buying an additional 28 shares during the last quarter. Stone House Investment Management LLC increased its position in Pfizer by 0.9% in the first quarter. Stone House Investment Management LLC now owns 7,164 shares of the biopharmaceutical company’s stock valued at $245,000 after buying an additional 66 shares during the last quarter. Naples Global Advisors LLC increased its position in Pfizer by 0.3% in the first quarter. Naples Global Advisors LLC now owns 24,552 shares of the biopharmaceutical company’s stock valued at $840,000 after buying an additional 79 shares during the last quarter. Pure Financial Advisors Inc. increased its position in Pfizer by 0.4% in the first quarter. Pure Financial Advisors Inc. now owns 22,091 shares of the biopharmaceutical company’s stock valued at $756,000 after buying an additional 84 shares during the last quarter. Finally, Alpha Windward LLC increased its position in Pfizer by 1.1% in the first quarter. Alpha Windward LLC now owns 8,387 shares of the biopharmaceutical company’s stock valued at $287,000 after buying an additional 89 shares during the last quarter. 70.10% of the stock is currently owned by hedge funds and other institutional investors.
Pfizer, Inc. (PFE) traded down 0.51% on Friday, hitting $33.25. 12,928,473 shares of the stock were exchanged. Pfizer, Inc. has a 1-year low of $29.83 and a 1-year high of $35.38. The company has a market capitalization of $198.43 billion, a PE ratio of 24.32 and a beta of 1.00. The company has a 50-day moving average price of $33.40 and a 200 day moving average price of $33.31.
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. The business had revenue of $12.90 billion for the quarter, compared to analyst estimates of $13.08 billion. Pfizer had a net margin of 15.84% and a return on equity of 24.11%. The firm’s revenue for the quarter was down 1.9% on a year-over-year basis. During the same quarter last year, the business posted $0.64 EPS. Analysts anticipate that Pfizer, Inc. will post $2.56 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 4th will be given a dividend of $0.32 per share. The ex-dividend date of this dividend is Wednesday, August 2nd. This represents a $1.28 annualized dividend and a dividend yield of 3.85%. Pfizer’s dividend payout ratio is 94.12%.
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Several research firms have commented on PFE. Jefferies Group LLC set a $35.00 target price on shares of Pfizer and gave the stock a “neutral” rating in a research report on Wednesday, August 2nd. Morgan Stanley reaffirmed a “neutral” rating and issued a $35.00 price target (down from $38.00) on shares of Pfizer in a research report on Monday, June 12th. Berenberg Bank set a $39.00 price target on Pfizer and gave the company a “neutral” rating in a research report on Tuesday, August 1st. Citigroup Inc. downgraded Pfizer from a “neutral” rating to a “sell” rating and lowered their price target for the company from $38.00 to $31.00 in a research report on Tuesday, May 16th. Finally, BMO Capital Markets reaffirmed a “hold” rating and issued a $33.00 price target 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 given a hold rating and ten have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $37.77.
In related news, insider Alexander R. Mackenzie sold 15,000 shares of the 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 transaction, the insider now owns 151,474 shares of the company’s stock, valued at approximately $5,074,379. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Ian C. Read sold 96,950 shares of the stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $34.00, for a total transaction of $3,296,300.00. The disclosure for this sale can be found here. Company 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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