Grassi Investment Management Grows Stake in Pfizer Inc. (PFE)

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Grassi Investment Management grew its holdings in Pfizer Inc. (NYSE:PFE) by 17.2% during the 4th quarter, Holdings Channel reports. The firm owned 222,888 shares of the biopharmaceutical company’s stock after buying an additional 32,655 shares during the period. Pfizer comprises approximately 1.7% of Grassi Investment Management’s investment portfolio, making the stock its 17th biggest holding. Grassi Investment Management’s holdings in Pfizer were worth $9,729,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also added to or reduced their stakes in PFE. Advocacy Wealth Management Services LLC lifted its stake in shares of Pfizer by 48.2% during the fourth quarter. Advocacy Wealth Management Services LLC now owns 793 shares of the biopharmaceutical company’s stock valued at $35,000 after buying an additional 258 shares during the period. West Oak Capital LLC lifted its stake in shares of Pfizer by 1.3% during the fourth quarter. West Oak Capital LLC now owns 27,761 shares of the biopharmaceutical company’s stock valued at $1,212,000 after buying an additional 360 shares during the period. Waldron Private Wealth LLC lifted its stake in shares of Pfizer by 2.1% during the third quarter. Waldron Private Wealth LLC now owns 20,402 shares of the biopharmaceutical company’s stock valued at $899,000 after buying an additional 422 shares during the period. Bath Savings Trust Co lifted its stake in shares of Pfizer by 2.7% during the fourth quarter. Bath Savings Trust Co now owns 16,953 shares of the biopharmaceutical company’s stock valued at $740,000 after buying an additional 448 shares during the period. Finally, Blue Fin Capital Inc. lifted its stake in shares of Pfizer by 1.0% during the third quarter. Blue Fin Capital Inc. now owns 46,273 shares of the biopharmaceutical company’s stock valued at $2,039,000 after buying an additional 469 shares during the period. Institutional investors and hedge funds own 68.44% of the company’s stock.

In other Pfizer news, insider Rady A. Johnson sold 8,700 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $41.13, for a total transaction of $357,831.00. Following the transaction, the insider now owns 59,797 shares of the company’s stock, valued at $2,459,450.61. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Mikael Dolsten sold 149,553 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $43.55, for a total transaction of $6,513,033.15. Following the transaction, the insider now directly owns 390,097 shares in the company, valued at approximately $16,988,724.35. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 317,526 shares of company stock worth $13,704,089. 0.06% of the stock is currently owned by insiders.

NYSE:PFE opened at $41.85 on Friday. The company has a current ratio of 1.57, a quick ratio of 1.33 and a debt-to-equity ratio of 0.52. The company has a market cap of $252.10 billion, a price-to-earnings ratio of 13.95, a P/E/G ratio of 2.42 and a beta of 0.76. Pfizer Inc. has a fifty-two week low of $34.32 and a fifty-two week high of $46.47.

Pfizer (NYSE:PFE) last posted its quarterly earnings results on Tuesday, January 29th. The biopharmaceutical company reported $0.64 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.01. The company had revenue of $13.98 billion for the quarter, compared to the consensus estimate of $13.92 billion. Pfizer had a net margin of 20.79% and a return on equity of 26.02%. Pfizer’s revenue was up 2.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.62 earnings per share. On average, equities analysts predict that Pfizer Inc. will post 2.86 earnings per share for the current fiscal year.

Pfizer declared that its Board of Directors has approved a share buyback plan on Friday, December 14th that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the biopharmaceutical company to reacquire up to 3.8% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its stock is undervalued.

Several equities analysts recently issued reports on the stock. Credit Suisse Group reissued a “neutral” rating and set a $45.00 price objective on shares of Pfizer in a research note on Monday, January 28th. JPMorgan Chase & Co. downgraded shares of Pfizer from an “overweight” rating to a “neutral” rating and set a $46.00 price objective on the stock. in a research note on Tuesday, December 11th. Atlantic Securities reissued a “buy” rating and set a $54.00 price objective on shares of Pfizer in a research note on Tuesday, November 27th. ValuEngine downgraded shares of Pfizer from a “buy” rating to a “hold” rating in a research note on Thursday, January 24th. Finally, Argus raised shares of Pfizer from a “hold” rating to a “buy” rating and set a $55.00 price objective on the stock in a research note on Thursday, January 31st. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and seven have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $44.89.

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About Pfizer

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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Institutional Ownership by Quarter for Pfizer (NYSE:PFE)

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