Rafferty Asset Management LLC Buys 59,845 Shares of Pfizer Inc. (NYSE:PFE)

Rafferty Asset Management LLC increased its stake in shares of Pfizer Inc. (NYSE:PFE) by 44.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 195,569 shares of the biopharmaceutical company’s stock after purchasing an additional 59,845 shares during the quarter. Rafferty Asset Management LLC’s holdings in Pfizer were worth $8,411,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Core Alternative Capital bought a new stake in shares of Pfizer during the third quarter valued at approximately $30,000. GoalVest Advisory LLC bought a new stake in shares of Pfizer during the second quarter valued at approximately $39,000. Tower View Investment Management & Research LLC bought a new stake in shares of Pfizer during the third quarter valued at approximately $43,000. USA Financial Portformulas Corp boosted its stake in Pfizer by 2,697.5% in the third quarter. USA Financial Portformulas Corp now owns 1,119 shares of the biopharmaceutical company’s stock valued at $48,000 after acquiring an additional 1,079 shares during the last quarter. Finally, Capital Directions Investment Advisors LLC boosted its stake in Pfizer by 307.5% in the third quarter. Capital Directions Investment Advisors LLC now owns 1,202 shares of the biopharmaceutical company’s stock valued at $52,000 after acquiring an additional 907 shares during the last quarter. 64.88% of the stock is currently owned by institutional investors and hedge funds.

A number of brokerages have issued reports on PFE. Erste Group raised shares of Pfizer from a “hold” rating to a “buy” rating in a research note on Thursday, December 9th. Zacks Investment Research raised shares of Pfizer from a “hold” rating to a “strong-buy” rating and set a $65.00 price objective on the stock in a research note on Tuesday, January 4th. Cowen raised their price objective on shares of Pfizer from $56.00 to $70.00 and gave the company an “outperform” rating in a research note on Monday, December 20th. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $60.00 price objective on shares of Pfizer in a research note on Friday, November 5th. Finally, Bank of America raised shares of Pfizer from a “neutral” rating to a “buy” rating and raised their price objective for the company from $59.00 to $70.00 in a research note on Wednesday, January 5th. Nine investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Pfizer has a consensus rating of “Buy” and a consensus price target of $57.81.

In other Pfizer news, EVP Alexander R. Mackenzie sold 41,360 shares of Pfizer stock in a transaction on Thursday, December 2nd. The shares were sold at an average price of $54.26, for a total value of $2,244,193.60. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider John D. Young sold 150,000 shares of the business’s stock in a transaction dated Thursday, November 11th. The stock was sold at an average price of $50.06, for a total transaction of $7,509,000.00. The disclosure for this sale can be found here. Insiders sold a total of 231,360 shares of company stock worth $11,927,994 over the last quarter. Company insiders own 0.05% of the company’s stock.

Shares of NYSE:PFE opened at $54.95 on Friday. Pfizer Inc. has a 12 month low of $33.36 and a 12 month high of $61.71. The company has a quick ratio of 1.18, a current ratio of 1.39 and a debt-to-equity ratio of 0.48. The company’s fifty day simple moving average is $54.39 and its 200 day simple moving average is $47.49. The firm has a market cap of $308.43 billion, a price-to-earnings ratio of 16.35, a PEG ratio of 0.74 and a beta of 0.69.

Pfizer (NYSE:PFE) last issued its quarterly earnings results on Tuesday, November 2nd. The biopharmaceutical company reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.26. Pfizer had a net margin of 27.66% and a return on equity of 30.70%. The firm had revenue of $24.09 billion for the quarter, compared to analyst estimates of $22.82 billion. During the same period in the previous year, the business earned $0.72 EPS. The company’s revenue was up 134.4% compared to the same quarter last year. Research analysts expect that Pfizer Inc. will post 4.18 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 4th. Shareholders of record on Friday, January 28th will be paid a $0.40 dividend. This is a positive change from Pfizer’s previous quarterly dividend of $0.39. This represents a $1.60 annualized dividend and a yield of 2.91%. The ex-dividend date is Thursday, January 27th. Pfizer’s payout ratio is presently 46.43%.

Pfizer Company Profile

Pfizer Inc is a research-based global biopharmaceutical company. It engages in the discovery, development, manufacture, marketing, sales and distribution of biopharmaceutical products worldwide. The firm work across developed and emerging markets to advance wellness, prevention, treatments and cures that challenge the most feared diseases.

Featured Story: What is the accumulation/distribution indicator?

Want to see what other hedge funds are holding PFE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pfizer Inc. (NYSE:PFE).

Institutional Ownership by Quarter for Pfizer (NYSE:PFE)

Receive News & Ratings for Pfizer Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pfizer and related companies with MarketBeat.com's FREE daily email newsletter.