Vanguard Group Inc boosted its stake in Pfizer Inc. (NYSE:PFE) by 1.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 441,792,969 shares of the biopharmaceutical company’s stock after acquiring an additional 6,620,749 shares during the period. Pfizer accounts for approximately 0.8% of Vanguard Group Inc’s holdings, making the stock its 13th biggest holding. Vanguard Group Inc owned 7.42% of Pfizer worth $19,469,816,000 as of its most recent SEC filing.
A number of other large investors also recently added to or reduced their stakes in the stock. Fort L.P. purchased a new position in shares of Pfizer in the 2nd quarter worth about $121,000. Selective Wealth Management purchased a new position in shares of Pfizer in the 3rd quarter worth about $155,000. Point72 Hong Kong Ltd raised its position in shares of Pfizer by 7,195.5% in the 2nd quarter. Point72 Hong Kong Ltd now owns 4,815 shares of the biopharmaceutical company’s stock worth $175,000 after purchasing an additional 4,749 shares during the last quarter. Almanack Investment Partners LLC. purchased a new position in shares of Pfizer in the 3rd quarter worth about $198,000. Finally, Garrison Financial Corp purchased a new position in Pfizer in the 3rd quarter worth about $200,000. Institutional investors and hedge funds own 69.53% of the company’s stock.
Shares of PFE opened at $42.91 on Wednesday. The company has a market cap of $252.82 billion, a PE ratio of 14.30, a PEG ratio of 2.43 and a beta of 0.75. Pfizer Inc. has a 1 year low of $34.37 and a 1 year high of $46.47. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.33 and a current ratio of 1.57.
Pfizer (NYSE:PFE) last issued its quarterly earnings data on Tuesday, January 29th. The biopharmaceutical company reported $0.64 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.01. The business had revenue of $13.98 billion for the quarter, compared to analysts’ expectations of $13.92 billion. Pfizer had a return on equity of 26.02% and a net margin of 20.79%. The company’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.62 EPS. As a group, equities analysts forecast that Pfizer Inc. will post 2.86 EPS for the current fiscal year.
Pfizer announced that its board has authorized a share repurchase program on Friday, December 14th that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the biopharmaceutical company to buy up to 3.8% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.
In related news, insider Rady A. Johnson sold 8,700 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $41.13, for a total transaction of $357,831.00. Following the sale, the insider now owns 59,797 shares in the company, valued at approximately $2,459,450.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Douglas M. Lankler sold 5,000 shares of the stock in a transaction 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 sale, the executive vice president now owns 83,592 shares in the company, valued at approximately $3,573,558. The disclosure for this sale can be found here. Insiders have sold a total of 332,526 shares of company stock worth $14,346,539 in the last 90 days. 0.09% of the stock is currently owned by insiders.
PFE has been the subject of a number of recent research reports. Cantor Fitzgerald restated a “buy” rating and set a $53.00 price target on shares of Pfizer in a research note on Tuesday, December 11th. Argus upgraded Pfizer from a “hold” rating to a “buy” rating and set a $55.00 price target for the company in a research note on Thursday, January 31st. Bank of America boosted their price target on Pfizer from $45.00 to $48.00 and gave the company a “buy” rating in a research note on Monday. ValuEngine downgraded Pfizer from a “buy” rating to a “hold” rating in a research note on Thursday, January 24th. Finally, Credit Suisse Group set a $45.00 price objective on Pfizer and gave the company a “hold” rating in a research note on Thursday, December 13th. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and seven have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $45.16.
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Pfizer Company Profile
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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