Swiss National Bank Has $905.97 Million Stake in Pfizer Inc. (PFE)
Swiss National Bank lessened its position in Pfizer Inc. (NYSE:PFE) by 4.9% in the third quarter, HoldingsChannel.com reports. The fund owned 20,557,489 shares of the biopharmaceutical company’s stock after selling 1,065,900 shares during the period. Pfizer comprises about 1.0% of Swiss National Bank’s portfolio, making the stock its 11th biggest holding. Swiss National Bank’s holdings in Pfizer were worth $905,969,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Prio Wealth Limited Partnership boosted its holdings in shares of Pfizer by 3.2% during the 3rd quarter. Prio Wealth Limited Partnership now owns 1,039,655 shares of the biopharmaceutical company’s stock worth $45,817,000 after buying an additional 32,071 shares during the period. Sterling Capital Management LLC boosted its holdings in shares of Pfizer by 16.6% during the 2nd quarter. Sterling Capital Management LLC now owns 2,478,848 shares of the biopharmaceutical company’s stock worth $89,933,000 after buying an additional 353,212 shares during the period. Round Table Services LLC boosted its holdings in shares of Pfizer by 22.7% during the 3rd quarter. Round Table Services LLC now owns 19,327 shares of the biopharmaceutical company’s stock worth $852,000 after buying an additional 3,580 shares during the period. Patriot Wealth Management Inc. boosted its holdings in shares of Pfizer by 2.1% during the 3rd quarter. Patriot Wealth Management Inc. now owns 243,476 shares of the biopharmaceutical company’s stock worth $10,730,000 after buying an additional 5,070 shares during the period. Finally, Essex Financial Services Inc. boosted its holdings in shares of Pfizer by 1.0% during the 2nd quarter. Essex Financial Services Inc. now owns 331,097 shares of the biopharmaceutical company’s stock worth $12,012,000 after buying an additional 3,249 shares during the period. 70.61% of the stock is owned by institutional investors.
Several analysts recently commented on PFE shares. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Pfizer in a report on Tuesday, October 30th. Cantor Fitzgerald reaffirmed a “buy” rating and set a $53.00 target price on shares of Pfizer in a report on Monday, November 19th. Atlantic Securities reaffirmed a “buy” rating and set a $54.00 target price on shares of Pfizer in a report on Tuesday, November 27th. Argus raised shares of Pfizer from a “hold” rating to a “buy” rating and set a $55.00 target price for the company in a report on Thursday, January 31st. Finally, Credit Suisse Group set a $42.00 target price on shares of Pfizer and gave the stock a “hold” rating in a report on Monday, November 26th. Three investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and seven have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $44.68.
Pfizer (NYSE:PFE) last issued its quarterly earnings data on Tuesday, January 29th. The biopharmaceutical company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.01. Pfizer had a net margin of 20.79% and a return on equity of 25.38%. The business had revenue of $13.98 billion during the quarter, compared to analysts’ expectations of $13.92 billion. During the same quarter in the previous year, the company earned $0.62 EPS. The business’s revenue was up 2.0% on a year-over-year basis. As a group, equities research analysts expect that Pfizer Inc. will post 2.86 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 1st. Shareholders of record on Friday, February 1st will be paid a $0.36 dividend. This is a boost from Pfizer’s previous quarterly dividend of $0.34. The ex-dividend date is Thursday, January 31st. This represents a $1.44 annualized dividend and a yield of 3.40%. Pfizer’s payout ratio is 48.00%.
Pfizer declared that its Board of Directors has approved a stock repurchase plan on Friday, December 14th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the biopharmaceutical company to purchase up to 3.8% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.
In other news, EVP Douglas M. Lankler sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, February 1st. The shares were sold at an average price of $42.75, for a total value of $213,750.00. Following the completion of the transaction, the executive vice president now directly owns 83,592 shares in the company, valued at approximately $3,573,558. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Douglas M. Lankler sold 38,800 shares of the business’s stock in a transaction that occurred on Wednesday, January 30th. The shares were sold at an average price of $41.19, for a total transaction of $1,598,172.00. Following the completion of the transaction, the executive vice president now owns 83,592 shares of the company’s stock, valued at $3,443,154.48. The disclosure for this sale can be found here. 0.06% of the stock is owned by insiders.
Pfizer Inc discovers, develops, manufactures, and sells healthcare products worldwide. It operates in two segments, Pfizer Innovative Health (IH) and Pfizer Essential Health (EH). The IH segment focuses on the development and commercialization of medicines and vaccines, and consumer healthcare products in various therapeutic areas, including internal medicine, vaccines, oncology, inflammation and immunology, and rare diseases, as well as consumer healthcare, such as over-the-counter brands comprising dietary supplements, pain management, gastrointestinal, and respiratory and personal care.
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