Zions Bancorporation Sells 20,512 Shares of Pfizer, Inc. (PFE)
Zions Bancorporation reduced its position in Pfizer, Inc. (NYSE:PFE) by 26.2% during the first quarter, Holdings Channel reports. The institutional investor owned 57,897 shares of the biopharmaceutical company’s stock after selling 20,512 shares during the period. Zions Bancorporation’s holdings in Pfizer were worth $1,983,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Denver Investment Advisors LLC increased its stake in Pfizer by 4.9% in the fourth quarter. Denver Investment Advisors LLC now owns 500,063 shares of the biopharmaceutical company’s stock worth $16,242,000 after buying an additional 23,268 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. boosted its position in shares of Pfizer by 1.1% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 651,910 shares of the biopharmaceutical company’s stock worth $21,231,000 after buying an additional 6,830 shares during the last quarter. HCR Wealth Advisors purchased a new position in shares of Pfizer during the fourth quarter worth about $567,000. AQR Capital Management LLC boosted its position in shares of Pfizer by 5.9% in the fourth quarter. AQR Capital Management LLC now owns 10,312,918 shares of the biopharmaceutical company’s stock worth $334,964,000 after buying an additional 573,111 shares during the last quarter. Finally, Guggenheim Capital LLC boosted its position in shares of Pfizer by 16.9% in the fourth quarter. Guggenheim Capital LLC now owns 2,995,589 shares of the biopharmaceutical company’s stock worth $97,298,000 after buying an additional 433,782 shares during the last quarter. 69.94% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Pfizer, Inc. (NYSE:PFE) traded up 0.045% during trading on Monday, hitting $33.265. 2,606,566 shares of the stock traded hands. The stock has a 50 day moving average of $33.40 and a 200 day moving average of $33.31. The firm has a market cap of $198.52 billion, a price-to-earnings ratio of 24.334 and a beta of 1.00. Pfizer, Inc. has a 52-week low of $29.83 and a 52-week high of $35.38.
Pfizer (NYSE:PFE) last released its earnings results on Tuesday, August 1st. The biopharmaceutical company reported $0.67 EPS for the quarter, topping the Zacks’ 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 firm had revenue of $12.90 billion during the quarter, compared to the consensus estimate of $13.08 billion. During the same quarter in the previous year, the company posted $0.64 earnings per share. The company’s revenue was down 1.9% compared to the same quarter last year. Analysts expect that Pfizer, Inc. will post $2.56 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 4th will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.85%. The ex-dividend date is Wednesday, August 2nd. Pfizer’s dividend payout ratio (DPR) is 94.12%.
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A number of equities analysts recently issued reports on PFE shares. Citigroup Inc. cut shares of Pfizer from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $38.00 to $31.00 in a research note on Tuesday, May 16th. Zacks Investment Research upgraded shares of Pfizer from a “sell” rating to a “hold” rating in a research note on Friday, July 14th. Barclays PLC reiterated a “buy” rating and issued a $38.00 price target on shares of Pfizer in a research note on Wednesday, May 3rd. Sanford C. Bernstein reiterated a “buy” rating and issued a $37.00 price target on shares of Pfizer in a research note on Wednesday, May 3rd. Finally, BMO Capital Markets reiterated a “hold” rating and issued a $33.00 price target on shares of Pfizer in a research note on Thursday, April 27th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and ten have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $37.77.
In related news, 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 transaction of $502,500.00. Following the completion of the sale, the insider now owns 151,474 shares of the company’s stock, valued at $5,074,379. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 value of $3,296,300.00. The disclosure for this sale can be found here. Insiders own 0.06% of the company’s stock.
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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