E&G Advisors LP boosted its stake in shares of Pfizer Inc. (NYSE:PFE) by 9.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 34,973 shares of the biopharmaceutical company’s stock after acquiring an additional 3,007 shares during the quarter. E&G Advisors LP’s holdings in Pfizer were worth $1,541,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Exeter Financial LLC boosted its position in shares of Pfizer by 3.9% during the second quarter. Exeter Financial LLC now owns 31,817 shares of the biopharmaceutical company’s stock valued at $1,154,000 after buying an additional 1,195 shares during the period. Smart Portfolios LLC boosted its position in shares of Pfizer by 43.9% during the second quarter. Smart Portfolios LLC now owns 3,935 shares of the biopharmaceutical company’s stock valued at $143,000 after buying an additional 1,200 shares during the period. Private Capital Group LLC boosted its position in shares of Pfizer by 4.8% during the second quarter. Private Capital Group LLC now owns 26,685 shares of the biopharmaceutical company’s stock valued at $968,000 after buying an additional 1,215 shares during the period. Andesa Financial Management Inc. boosted its position in shares of Pfizer by 6.0% during the second quarter. Andesa Financial Management Inc. now owns 21,636 shares of the biopharmaceutical company’s stock valued at $785,000 after buying an additional 1,226 shares during the period. Finally, Texas Yale Capital Corp. boosted its holdings in shares of Pfizer by 1.5% in the second quarter. Texas Yale Capital Corp. now owns 83,436 shares of the biopharmaceutical company’s stock valued at $3,027,000 after purchasing an additional 1,255 shares during the period. 69.28% of the stock is currently owned by institutional investors.
A number of analysts recently issued reports on PFE shares. Deutsche Bank set a $45.00 price target on Pfizer and gave the company a “buy” rating in a report on Tuesday, August 21st. Morgan Stanley set a $45.00 price target on Pfizer and gave the company a “buy” rating in a report on Thursday, August 23rd. Barclays boosted their price target on Pfizer from $38.00 to $40.00 and gave the company a “neutral” rating in a report on Thursday, August 23rd. JPMorgan Chase & Co. reiterated a “buy” rating and issued a $42.00 price target on shares of Pfizer in a report on Thursday, August 23rd. Finally, Cantor Fitzgerald set a $45.00 price target on Pfizer and gave the company a “buy” rating in a report on Monday, August 27th. Two analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eight have given a buy rating to the stock. Pfizer currently has an average rating of “Hold” and a consensus price target of $43.41.
Shares of NYSE:PFE opened at $43.11 on Tuesday. The company has a market capitalization of $260.74 billion, a P/E ratio of 16.27, a price-to-earnings-growth ratio of 2.18 and a beta of 0.88. Pfizer Inc. has a 52 week low of $33.20 and a 52 week high of $46.47. The company has a quick ratio of 1.15, a current ratio of 1.43 and a debt-to-equity ratio of 0.47.
Pfizer (NYSE:PFE) last issued its quarterly earnings data on Tuesday, October 30th. The biopharmaceutical company reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.03. The company had revenue of $13.30 billion during the quarter, compared to the consensus estimate of $13.53 billion. Pfizer had a net margin of 44.63% and a return on equity of 25.26%. Pfizer’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.67 earnings per share. On average, sell-side analysts predict that Pfizer Inc. will post 3 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 1st. Investors of record on Friday, February 1st will be paid a $0.36 dividend. This is an increase from Pfizer’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend is Thursday, January 31st. This represents a $1.44 dividend on an annualized basis and a yield of 3.34%. Pfizer’s payout ratio is 51.32%.
Pfizer declared that its Board of Directors has initiated a share repurchase program on Friday, December 14th that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the biopharmaceutical company to repurchase up to 3.8% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its stock is undervalued.
In other Pfizer news, major shareholder Pfizer Inc acquired 55,556 shares of Pfizer stock in a transaction that occurred on Monday, October 15th. The stock was bought at an average price of $18.00 per share, with a total value of $1,000,008.00. Following the completion of the purchase, the insider now directly owns 21,976,484 shares of the company’s stock, valued at approximately $395,576,712. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.06% of the company’s stock.
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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