DNB Asset Management AS cut its position in shares of Pfizer Inc. (NYSE:PFE) by 12.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,679,532 shares of the biopharmaceutical company’s stock after selling 546,117 shares during the quarter. Pfizer makes up about 1.4% of DNB Asset Management AS’s holdings, making the stock its 14th biggest position. DNB Asset Management AS owned approximately 0.07% of Pfizer worth $135,039,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Corbett Road Capital Management LLC purchased a new stake in Pfizer in the 2nd quarter valued at about $25,000. Reitz Capital Advisors LLC bought a new position in shares of Pfizer in the second quarter valued at approximately $29,000. Disciplined Investments LLC grew its holdings in shares of Pfizer by 43.3% in the first quarter. Disciplined Investments LLC now owns 1,148 shares of the biopharmaceutical company’s stock valued at $37,000 after acquiring an additional 347 shares in the last quarter. Rocky Mountain Advisers LLC increased its position in shares of Pfizer by 847.5% during the second quarter. Rocky Mountain Advisers LLC now owns 1,118 shares of the biopharmaceutical company’s stock valued at $37,000 after acquiring an additional 1,000 shares during the last quarter. Finally, JJJ Advisors Inc. bought a new stake in Pfizer during the second quarter worth $44,000. 69.08% of the stock is owned by institutional investors and hedge funds.
Shares of PFE stock opened at $37.95 on Friday. The firm’s 50 day moving average is $36.59 and its 200 day moving average is $36.32. The stock has a market capitalization of $210.88 billion, a P/E ratio of 15.06, a PEG ratio of 2.91 and a beta of 0.67. Pfizer Inc. has a 12 month low of $27.88 and a 12 month high of $40.97. The company has a current ratio of 1.42, a quick ratio of 1.16 and a debt-to-equity ratio of 0.78.
Pfizer (NYSE:PFE) last issued its earnings results on Tuesday, July 28th. The biopharmaceutical company reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.14. Pfizer had a net margin of 28.80% and a return on equity of 25.11%. The business had revenue of $11.80 billion for the quarter, compared to analysts’ expectations of $11.55 billion. During the same quarter in the previous year, the firm posted $0.80 EPS. The business’s revenue for the quarter was down 11.0% compared to the same quarter last year. On average, equities analysts predict that Pfizer Inc. will post 2.89 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Friday, November 6th will be issued a dividend of $0.38 per share. The ex-dividend date is Thursday, November 5th. This represents a $1.52 dividend on an annualized basis and a yield of 4.01%. Pfizer’s dividend payout ratio (DPR) is 51.53%.
In related news, Director Ronald E. Blaylock bought 13,000 shares of Pfizer stock in a transaction on Thursday, August 6th. The stock was acquired at an average price of $38.55 per share, with a total value of $501,150.00. Following the acquisition, the director now directly owns 4,000 shares of the company’s stock, valued at $154,200. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.08% of the company’s stock.
A number of brokerages have issued reports on PFE. ValuEngine downgraded Pfizer from a “hold” rating to a “sell” rating in a research note on Thursday, July 30th. UBS Group increased their price target on shares of Pfizer from $37.00 to $39.00 and gave the company a “neutral” rating in a research report on Wednesday, July 29th. SVB Leerink lifted their price objective on shares of Pfizer from $39.00 to $42.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 29th. Morgan Stanley increased their target price on shares of Pfizer from $36.00 to $42.00 and gave the company an “equal weight” rating in a research report on Thursday, July 30th. Finally, Atlantic Securities cut shares of Pfizer from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $44.00 to $39.00 in a report on Monday, October 12th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $39.64.
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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