Mcrae Capital Management Inc. Reduces Position in Pfizer, Inc. (PFE)
Mcrae Capital Management Inc. lowered its stake in shares of Pfizer, Inc. (NYSE:PFE) by 3.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,426 shares of the biopharmaceutical company’s stock after selling 369 shares during the quarter. Mcrae Capital Management Inc.’s holdings in Pfizer were worth $350,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in the stock. D. Scott Neal Inc. increased its holdings in Pfizer by 19.3% in the 2nd quarter. D. Scott Neal Inc. now owns 3,112 shares of the biopharmaceutical company’s stock valued at $105,000 after buying an additional 504 shares during the period. Franklin Parlapiano Turner & Welch LLC bought a new stake in Pfizer in the 1st quarter valued at $121,000. Cascade Investment Advisors Inc. increased its holdings in Pfizer by 89.1% in the 2nd quarter. Cascade Investment Advisors Inc. now owns 4,669 shares of the biopharmaceutical company’s stock valued at $157,000 after buying an additional 2,200 shares during the period. Patten Group Inc. increased its holdings in Pfizer by 5.1% in the 1st quarter. Patten Group Inc. now owns 5,181 shares of the biopharmaceutical company’s stock valued at $177,000 after buying an additional 252 shares during the period. Finally, Acropolis Investment Management LLC increased its holdings in Pfizer by 6.7% in the 2nd quarter. Acropolis Investment Management LLC now owns 5,603 shares of the biopharmaceutical company’s stock valued at $188,000 after buying an additional 352 shares during the period. 68.98% of the stock is currently owned by institutional investors and hedge funds.
Shares of Pfizer, Inc. (NYSE:PFE) opened at 36.24 on Friday. The firm’s 50-day moving average price is $35.49 and its 200 day moving average price is $33.82. Pfizer, Inc. has a one year low of $29.83 and a one year high of $36.60. The company has a market capitalization of $215.53 billion, a PE ratio of 26.51 and a beta of 1.00.
Pfizer (NYSE:PFE) last released its quarterly earnings data on Tuesday, August 1st. The biopharmaceutical company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.02. The business had revenue of $12.90 billion for the quarter, compared to analyst estimates of $13.08 billion. Pfizer had a return on equity of 24.51% and a net margin of 15.84%. Pfizer’s revenue was down 1.9% compared to the same quarter last year. During the same period last year, the firm posted $0.64 earnings per share. Analysts anticipate that Pfizer, Inc. will post $2.56 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Friday, November 10th will be paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.53%. The ex-dividend date is Thursday, November 9th. Pfizer’s payout ratio is 94.12%.
PFE has been the topic of several analyst reports. Cowen and Company set a $43.00 price target on shares of Pfizer and gave the company a “buy” rating in a report on Monday, August 14th. UBS AG reissued a “buy” rating and issued a $38.00 price target on shares of Pfizer in a report on Monday, July 31st. Sanford C. Bernstein set a $39.00 price target on shares of Pfizer and gave the company a “buy” rating in a report on Monday, July 17th. BMO Capital Markets reissued a “buy” rating and issued a $37.00 price target on shares of Pfizer in a report on Wednesday, September 6th. Finally, Zacks Investment Research raised shares of Pfizer from a “hold” rating to a “buy” rating and set a $40.00 price target on the stock in a report on Tuesday, October 3rd. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the company. Pfizer presently has a consensus rating of “Hold” and an average target price of $38.26.
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In other news, insider Alexander R. Mackenzie sold 15,000 shares of Pfizer stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $33.50, for a total transaction of $502,500.00. Following the sale, the insider now directly owns 151,474 shares of the company’s stock, valued at $5,074,379. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Sally Susman sold 38,230 shares of Pfizer stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $35.00, for a total value of $1,338,050.00. Following the sale, the insider now directly owns 145,649 shares in the company, valued at $5,097,715. The disclosure for this sale can be found here. Insiders have sold 464,521 shares of company stock worth $15,813,961 over the last three months. Insiders own 0.06% of the company’s stock.
Pfizer Inc (Pfizer) is a research-based global biopharmaceutical company. The Company is engaged in the discovery, development and manufacture of healthcare products. Its global portfolio includes medicines and vaccines, as well as consumer healthcare products. The Company manages its commercial operations through two business segments: Pfizer Innovative Health (IH) and Pfizer Essential Health (EH).
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