Princeton Capital Management Inc. Buys 34,173 Shares of Pfizer Inc. (PFE)
Princeton Capital Management Inc. boosted its holdings in shares of Pfizer Inc. (NYSE:PFE) by 32.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 138,816 shares of the biopharmaceutical company’s stock after acquiring an additional 34,173 shares during the period. Pfizer makes up approximately 2.5% of Princeton Capital Management Inc.’s investment portfolio, making the stock its 15th largest holding. Princeton Capital Management Inc.’s holdings in Pfizer were worth $4,956,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of PFE. Shine Investment Advisory Services Inc. bought a new position in Pfizer during the second quarter worth about $102,000. Mckinley Capital Management LLC Delaware bought a new stake in shares of Pfizer in the second quarter valued at about $103,000. D. Scott Neal Inc. lifted its holdings in shares of Pfizer by 19.3% in the second quarter. D. Scott Neal Inc. now owns 3,112 shares of the biopharmaceutical company’s stock valued at $105,000 after purchasing an additional 504 shares in the last quarter. Herndon Capital Management LLC bought a new stake in shares of Pfizer in the second quarter valued at about $120,000. Finally, Private Vista LLC lifted its holdings in shares of Pfizer by 2,277.3% in the second quarter. Private Vista LLC now owns 199,317 shares of the biopharmaceutical company’s stock valued at $133,000 after purchasing an additional 190,933 shares in the last quarter. Hedge funds and other institutional investors own 69.75% of the company’s stock.
A number of analysts have recently commented on the company. Zacks Investment Research upgraded Pfizer from a “hold” rating to a “buy” rating and set a $41.00 price target on the stock in a report on Wednesday. BMO Capital Markets set a $39.00 price target on Pfizer and gave the company a “buy” rating in a report on Monday, January 8th. Jefferies Group set a $40.00 price target on Pfizer and gave the company a “neutral” rating in a report on Tuesday, January 16th. Vetr lowered Pfizer from a “buy” rating to a “hold” rating and set a $37.98 price target on the stock. in a report on Monday, January 15th. Finally, Morgan Stanley set a $41.00 price target on Pfizer and gave the company a “buy” rating in a report on Friday, January 5th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $38.94.
Pfizer (NYSE:PFE) last released its earnings results on Tuesday, October 31st. The biopharmaceutical company reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.02. The business had revenue of $13.17 billion for the quarter, compared to the consensus estimate of $13.17 billion. Pfizer had a return on equity of 25.41% and a net margin of 18.69%. Pfizer’s quarterly revenue was up .9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.61 earnings per share. research analysts expect that Pfizer Inc. will post 2.6 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Friday, February 2nd will be given a $0.34 dividend. The ex-dividend date is Thursday, February 1st. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.68%. This is an increase from Pfizer’s previous quarterly dividend of $0.32. Pfizer’s payout ratio is currently 79.01%.
Pfizer announced that its board has initiated a share repurchase plan on Monday, December 18th that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the biopharmaceutical company to buy shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.
In related news, EVP Rady A. Johnson sold 8,000 shares of Pfizer stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $37.07, for a total value of $296,560.00. Following the sale, the executive vice president now owns 46,963 shares of the company’s stock, valued at $1,740,918.41. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Alexander R. Mackenzie sold 6,750 shares of Pfizer stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $37.00, for a total value of $249,750.00. Following the completion of the sale, the insider now directly owns 103,458 shares in the company, valued at approximately $3,827,946. The disclosure for this sale can be found here. In the last ninety days, insiders sold 29,450 shares of company stock worth $1,065,220. 0.06% of the stock is owned by company insiders.
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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