Pfizer Inc. (PFE) Stake Increased by Alpha Cubed Investments LLC
Alpha Cubed Investments LLC grew its stake in shares of Pfizer Inc. (NYSE:PFE) by 75.2% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 34,216 shares of the biopharmaceutical company’s stock after acquiring an additional 14,689 shares during the quarter. Alpha Cubed Investments LLC’s holdings in Pfizer were worth $1,523,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in the company. Brightworth lifted its position in shares of Pfizer by 31.8% during the 3rd quarter. Brightworth now owns 10,990 shares of the biopharmaceutical company’s stock worth $484,000 after buying an additional 2,652 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its position in shares of Pfizer by 2.8% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 7,315,131 shares of the biopharmaceutical company’s stock worth $322,381,000 after buying an additional 201,070 shares during the last quarter. Palo Capital Inc. lifted its position in shares of Pfizer by 18.8% during the 3rd quarter. Palo Capital Inc. now owns 59,029 shares of the biopharmaceutical company’s stock worth $2,601,000 after buying an additional 9,327 shares during the last quarter. Watch Point Trust Co bought a new stake in shares of Pfizer during the 3rd quarter worth $202,000. Finally, Cribstone Capital Management LLC lifted its position in shares of Pfizer by 4.1% during the 3rd quarter. Cribstone Capital Management LLC now owns 31,757 shares of the biopharmaceutical company’s stock worth $1,400,000 after buying an additional 1,247 shares during the last quarter. Hedge funds and other institutional investors own 69.26% of the company’s stock.
Several analysts recently weighed in on PFE shares. Cantor Fitzgerald restated a “buy” rating and set a $53.00 price objective on shares of Pfizer in a research report on Tuesday, December 11th. Atlantic Securities reaffirmed a “buy” rating and issued a $54.00 target price on shares of Pfizer in a report on Tuesday, November 27th. Credit Suisse Group reaffirmed a “neutral” rating and issued a $45.00 target price on shares of Pfizer in a report on Thursday, December 20th. Barclays set a $40.00 target price on Pfizer and gave the stock a “neutral” rating in a report on Friday, October 19th. Finally, Citigroup upped their target price on Pfizer from $34.00 to $37.00 and gave the stock a “sell” rating in a report on Tuesday, November 6th. Two analysts have rated the stock with a sell rating, fifteen have given a hold rating and eight have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $43.41.
Pfizer (NYSE:PFE) last issued its quarterly earnings results on Tuesday, October 30th. The biopharmaceutical company reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.03. The company had revenue of $13.30 billion during the quarter, compared to analysts’ expectations of $13.53 billion. Pfizer had a return on equity of 25.26% and a net margin of 44.63%. The business’s quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.67 earnings per share. As a group, research analysts predict that Pfizer Inc. will post 3 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 1st. Stockholders of record on Friday, February 1st will be paid a $0.36 dividend. This is a boost from Pfizer’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend is Thursday, January 31st. This represents a $1.44 annualized dividend and a dividend yield of 3.36%. Pfizer’s dividend payout ratio is presently 51.32%.
Pfizer announced that its Board of Directors has authorized a stock repurchase plan on Friday, December 14th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the biopharmaceutical company to buy up to 3.8% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.
In related news, major shareholder Pfizer Inc purchased 55,556 shares of the firm’s stock in a transaction dated Monday, October 15th. The stock was bought at an average price of $18.00 per share, with a total value of $1,000,008.00. Following the completion of the purchase, the insider now owns 21,976,484 shares in the company, valued at approximately $395,576,712. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.06% of the company’s stock.
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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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