Caisse DE Depot ET Placement DU Quebec Increases Stake in Pfizer Inc. (PFE)
Caisse DE Depot ET Placement DU Quebec grew its stake in shares of Pfizer Inc. (NYSE:PFE) by 1.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,464,938 shares of the biopharmaceutical company’s stock after purchasing an additional 61,300 shares during the period. Caisse DE Depot ET Placement DU Quebec’s holdings in Pfizer were worth $231,769,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in PFE. Shine Investment Advisory Services Inc. purchased a new position in Pfizer during the 2nd quarter valued at about $102,000. Mckinley Capital Management LLC Delaware purchased a new position in Pfizer during the 2nd quarter valued at about $103,000. Herndon Capital Management LLC purchased a new position in Pfizer during the 2nd quarter valued at about $120,000. Private Vista LLC lifted its position in Pfizer by 2,277.3% during the 2nd quarter. Private Vista LLC now owns 199,317 shares of the biopharmaceutical company’s stock valued at $133,000 after acquiring an additional 190,933 shares during the period. Finally, Lipe & Dalton lifted its position in Pfizer by 6.9% during the 2nd quarter. Lipe & Dalton now owns 4,626 shares of the biopharmaceutical company’s stock valued at $155,000 after acquiring an additional 300 shares during the period. 70.12% of the stock is currently owned by hedge funds and other institutional investors.
Pfizer Inc. (PFE) opened at $35.76 on Thursday. The company has a current ratio of 1.43, a quick ratio of 1.15 and a debt-to-equity ratio of 0.56. Pfizer Inc. has a twelve month low of $31.67 and a twelve month high of $39.43. The firm has a market cap of $213,150.00, a P/E ratio of 10.16, a PEG ratio of 2.05 and a beta of 0.94.
Pfizer declared that its board has authorized a stock repurchase plan on Monday, December 18th that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the biopharmaceutical company to repurchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s leadership believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Friday, February 2nd will be issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 3.80%. This is a boost from Pfizer’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Thursday, February 1st. Pfizer’s payout ratio is presently 38.64%.
In other news, EVP Rady A. Johnson sold 8,000 shares of the business’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $37.07, for a total transaction of $296,560.00. Following the completion of the transaction, the executive vice president now directly owns 46,963 shares of the company’s stock, valued at $1,740,918.41. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Alexander R. Mackenzie sold 6,750 shares of the business’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $37.00, for a total transaction of $249,750.00. Following the transaction, the insider now directly owns 103,458 shares of the company’s stock, valued at $3,827,946. The disclosure for this sale can be found here. 0.06% of the stock is owned by insiders.
A number of research analysts recently issued reports on PFE shares. Morningstar set a $38.00 price target on shares of Pfizer and gave the company a “neutral” rating in a research report on Tuesday, January 30th. UBS Group set a $42.00 price target on shares of Pfizer and gave the company a “buy” rating in a research report on Wednesday, January 31st. Nord/LB reissued a “neutral” rating on shares of Pfizer in a research report on Wednesday, December 27th. Zacks Investment Research raised shares of Pfizer from a “hold” rating to a “buy” rating and set a $41.00 target price for the company in a report on Wednesday, January 24th. Finally, Sanford C. Bernstein set a $43.00 target price on shares of Pfizer and gave the stock a “buy” rating in a report on Tuesday, January 30th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and eleven have assigned a buy rating to the stock. Pfizer has an average rating of “Hold” and an average price target of $39.45.
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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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