Pfizer Inc. (PFE) Holdings Lifted by TCW Group Inc.
TCW Group Inc. raised its holdings in Pfizer Inc. (NYSE:PFE) by 8.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 169,072 shares of the biopharmaceutical company’s stock after acquiring an additional 12,815 shares during the period. TCW Group Inc.’s holdings in Pfizer were worth $6,133,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in PFE. Ballew Advisors Inc bought a new stake in shares of Pfizer during the first quarter worth about $102,000. W.G. Shaheen & Associates DBA Whitney & Co bought a new stake in shares of Pfizer during the first quarter worth about $132,000. Bray Capital Advisors bought a new stake in shares of Pfizer during the first quarter worth about $139,000. Braun Bostich & Associates Inc. bought a new stake in shares of Pfizer during the first quarter worth about $139,000. Finally, Clearwater Capital Advisors LLC bought a new stake in shares of Pfizer during the first quarter worth about $156,000. Hedge funds and other institutional investors own 68.95% of the company’s stock.
In related news, CEO Ian C. Read sold 486,753 shares of the company’s stock in a transaction that occurred on Monday, July 16th. The stock was sold at an average price of $37.36, for a total value of $18,185,092.08. Following the sale, the chief executive officer now directly owns 1,145,693 shares in the company, valued at $42,803,090.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Sally Susman sold 40,381 shares of the company’s stock in a transaction that occurred on Friday, July 20th. The shares were sold at an average price of $37.22, for a total value of $1,502,980.82. Following the completion of the sale, the insider now owns 155,377 shares in the company, valued at $5,783,131.94. The disclosure for this sale can be found here. Insiders sold 761,230 shares of company stock worth $29,054,690 over the last quarter. 0.06% of the stock is currently owned by company insiders.
Pfizer (NYSE:PFE) last announced its earnings results on Tuesday, July 31st. The biopharmaceutical company reported $0.81 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.74 by $0.07. Pfizer had a return on equity of 25.35% and a net margin of 42.35%. The business had revenue of $13.47 billion for the quarter, compared to analysts’ expectations of $13.30 billion. During the same period in the prior year, the business posted $0.67 earnings per share. The firm’s revenue was up 4.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Pfizer Inc. will post 2.99 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, December 3rd. Investors of record on Friday, November 9th will be issued a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 3.11%. The ex-dividend date is Thursday, November 8th. Pfizer’s payout ratio is presently 51.32%.
PFE has been the topic of several research reports. 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 Tuesday, July 3rd. Jefferies Financial Group restated a “neutral” rating and set a $39.00 price target on shares of Pfizer in a report on Monday, July 9th. JPMorgan Chase & Co. restated a “buy” rating and set a $42.00 price target on shares of Pfizer in a report on Wednesday, July 11th. Cantor Fitzgerald set a $45.00 price target on Pfizer and gave the stock a “buy” rating in a report on Wednesday, July 11th. Finally, Credit Suisse Group set a $39.00 price target on Pfizer and gave the stock a “neutral” rating in a report on Thursday, July 12th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and nine have given a buy rating to the company’s stock. Pfizer currently has a consensus rating of “Hold” and an average target price of $42.40.
Pfizer Inc discovers, develops, manufactures, and sells healthcare products worldwide. It operates in two segments, Pfizer Innovative Health (IH) and Pfizer Essential Health (EH). The IH segment focuses on the development and commercialization of medicines and vaccines, and consumer healthcare products in various therapeutic areas, including internal medicine, vaccines, oncology, inflammation and immunology, and rare diseases, as well as consumer healthcare, such as over-the-counter brands comprising dietary supplements, pain management, gastrointestinal, and respiratory and personal care.
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