Wedge Capital Management L L P NC Sells 133,132 Shares of Pfizer Inc. (PFE)

Wedge Capital Management L L P NC decreased its stake in shares of Pfizer Inc. (NYSE:PFE) by 13.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 845,525 shares of the biopharmaceutical company’s stock after selling 133,132 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Pfizer were worth $30,676,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of PFE. American Asset Management Inc. increased its holdings in shares of Pfizer by 4.7% in the 2nd quarter. American Asset Management Inc. now owns 28,631 shares of the biopharmaceutical company’s stock valued at $1,039,000 after acquiring an additional 1,279 shares during the last quarter. Burleson & Company LLC increased its holdings in shares of Pfizer by 5.8% in the 2nd quarter. Burleson & Company LLC now owns 24,360 shares of the biopharmaceutical company’s stock valued at $884,000 after acquiring an additional 1,327 shares during the last quarter. Integrated Wealth Concepts LLC increased its holdings in shares of Pfizer by 2.6% in the 2nd quarter. Integrated Wealth Concepts LLC now owns 52,750 shares of the biopharmaceutical company’s stock valued at $1,916,000 after acquiring an additional 1,336 shares during the last quarter. Wendell David Associates Inc. increased its holdings in shares of Pfizer by 2.4% in the 2nd quarter. Wendell David Associates Inc. now owns 57,613 shares of the biopharmaceutical company’s stock valued at $2,090,000 after acquiring an additional 1,363 shares during the last quarter. Finally, Mechanics Bank Trust Department increased its holdings in shares of Pfizer by 0.6% in the 2nd quarter. Mechanics Bank Trust Department now owns 232,404 shares of the biopharmaceutical company’s stock valued at $8,431,000 after acquiring an additional 1,423 shares during the last quarter. Institutional investors own 68.95% of the company’s stock.

Pfizer stock opened at $44.91 on Monday. Pfizer Inc. has a twelve month low of $33.20 and a twelve month high of $45.00. The company has a quick ratio of 0.91, a current ratio of 1.16 and a debt-to-equity ratio of 0.41. The company has a market cap of $262.34 billion, a price-to-earnings ratio of 16.95, a P/E/G ratio of 2.23 and a beta of 0.96.

Pfizer (NYSE:PFE) last posted its quarterly earnings data on Tuesday, July 31st. The biopharmaceutical company reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.07. Pfizer had a return on equity of 25.35% and a net margin of 42.35%. The company had revenue of $13.47 billion during the quarter, compared to analysts’ expectations of $13.30 billion. During the same period last year, the firm earned $0.67 EPS. The firm’s revenue for the quarter was up 4.4% on a year-over-year basis. As a group, research analysts forecast that Pfizer Inc. will post 2.99 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 3rd. Shareholders of record on Friday, November 9th will be given a dividend of $0.34 per share. The ex-dividend date of this dividend is Thursday, November 8th. This represents a $1.36 dividend on an annualized basis and a yield of 3.03%. Pfizer’s payout ratio is 51.32%.

A number of research analysts recently issued reports on the company. Cantor Fitzgerald set a $45.00 price target on Pfizer and gave the stock a “buy” rating in a research note on Thursday. Independent Research set a $48.00 price target on Pfizer and gave the stock a “neutral” rating in a research note on Thursday. JPMorgan Chase & Co. set a $46.00 price target on Pfizer and gave the stock a “buy” rating in a research note on Monday, October 1st. Morningstar set a $46.00 price target on Pfizer and gave the stock a “buy” rating in a research note on Thursday, September 27th. Finally, Barclays restated a “neutral” rating and set a $40.00 price target on shares of Pfizer in a research note on Wednesday, September 26th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nine have given a buy rating to the company. Pfizer currently has an average rating of “Hold” and an average price target of $42.40.

In other Pfizer news, VP Loretta V. Cangialosi sold 26,814 shares of the stock in a transaction that occurred on Wednesday, August 1st. The stock was sold at an average price of $40.16, for a total transaction of $1,076,850.24. Following the completion of the sale, the vice president now directly owns 102,360 shares of the company’s stock, valued at approximately $4,110,777.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Ian C. Read sold 486,753 shares of the stock in a transaction that occurred on Monday, July 16th. The stock was sold at an average price of $37.36, for a total value of $18,185,092.08. Following the sale, the chief executive officer now directly owns 1,145,693 shares of the company’s stock, valued at $42,803,090.48. The disclosure for this sale can be found here. Insiders have sold a total of 761,230 shares of company stock valued at $29,054,690 over the last ninety days. 0.06% of the stock is owned by insiders.

Pfizer Profile

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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Institutional Ownership by Quarter for Pfizer (NYSE:PFE)

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