Modera Wealth Management LLC increased its position in Pfizer Inc. (NYSE:PFE) by 8.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 30,684 shares of the biopharmaceutical company’s stock after purchasing an additional 2,306 shares during the quarter. Modera Wealth Management LLC’s holdings in Pfizer were worth $1,329,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of the stock. Patriot Financial Group Insurance Agency LLC raised its stake in Pfizer by 3.5% during the second quarter. Patriot Financial Group Insurance Agency LLC now owns 14,807 shares of the biopharmaceutical company’s stock worth $655,000 after acquiring an additional 496 shares in the last quarter. Honkamp Krueger Financial Services Inc. raised its stake in Pfizer by 6.1% during the second quarter. Honkamp Krueger Financial Services Inc. now owns 94,479 shares of the biopharmaceutical company’s stock worth $4,091,000 after acquiring an additional 5,396 shares in the last quarter. Van ECK Associates Corp raised its stake in Pfizer by 0.8% during the second quarter. Van ECK Associates Corp now owns 892,520 shares of the biopharmaceutical company’s stock worth $38,664,000 after acquiring an additional 7,515 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its stake in Pfizer by 5.2% during the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 5,375,752 shares of the biopharmaceutical company’s stock worth $233,469,000 after acquiring an additional 264,216 shares in the last quarter. Finally, RB Capital Management LLC acquired a new position in Pfizer during the second quarter worth $203,000. 71.58% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE:PFE traded down $0.74 during midday trading on Friday, reaching $34.34. The company’s stock had a trading volume of 20,323,181 shares, compared to its average volume of 35,302,192. Pfizer Inc. has a fifty-two week low of $33.97 and a fifty-two week high of $46.47. The company has a market capitalization of $194.03 billion, a P/E ratio of 11.45, a P/E/G ratio of 2.80 and a beta of 0.63. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.47 and a quick ratio of 1.21. The business’s fifty day simple moving average is $39.60 and its 200-day simple moving average is $41.43.
Pfizer (NYSE:PFE) last announced its earnings results on Monday, July 29th. The biopharmaceutical company reported $0.80 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.75 by $0.05. Pfizer had a return on equity of 28.10% and a net margin of 23.58%. The company had revenue of $13.26 billion during the quarter, compared to analyst estimates of $13.43 billion. During the same period last year, the company posted $0.77 earnings per share. The firm’s quarterly revenue was down 1.5% compared to the same quarter last year. On average, analysts forecast that Pfizer Inc. will post 2.8 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Friday, August 2nd will be paid a $0.36 dividend. The ex-dividend date is Thursday, August 1st. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.19%. Pfizer’s dividend payout ratio (DPR) is presently 48.00%.
Several research firms have issued reports on PFE. UBS Group reiterated a “neutral” rating and set a $43.00 price objective on shares of Pfizer in a research note on Monday, August 5th. Barclays reiterated a “hold” rating and set a $41.00 price objective on shares of Pfizer in a research note on Thursday, May 9th. Morgan Stanley lowered Pfizer from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $48.00 to $40.00 in a research note on Tuesday, July 30th. JPMorgan Chase & Co. set a $46.00 price objective on Pfizer and gave the stock a “neutral” rating in a research note on Monday, July 29th. Finally, Credit Suisse Group reiterated a “neutral” rating on shares of Pfizer in a research note on Monday, August 12th. Fourteen analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $46.67.
In related news, EVP Frank A. Damelio sold 153,184 shares of Pfizer stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $44.09, for a total value of $6,753,882.56. Following the completion of the sale, the executive vice president now directly owns 489,647 shares in the company, valued at $21,588,536.23. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Alexander R. Mackenzie sold 30,000 shares of Pfizer stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $44.00, for a total value of $1,320,000.00. Following the completion of the sale, the insider now owns 80,094 shares of the company’s stock, valued at $3,524,136. The disclosure for this sale can be found here. Company insiders own 0.09% of the company’s stock.
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.
See Also: Death Cross
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.