Pfizer Inc. (PFE) Holdings Lifted by Martingale Asset Management L P
Martingale Asset Management L P boosted its holdings in shares of Pfizer Inc. (NYSE:PFE) by 2.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,749,402 shares of the biopharmaceutical company’s stock after purchasing an additional 39,464 shares during the period. Pfizer comprises 0.9% of Martingale Asset Management L P’s portfolio, making the stock its 7th biggest holding. Martingale Asset Management L P’s holdings in Pfizer were worth $77,097,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in PFE. J. L. Bainbridge & Co. Inc. bought a new position in shares of Pfizer in the third quarter valued at approximately $397,000. Blue Fin Capital Inc. raised its stake in shares of Pfizer by 1.0% in the third quarter. Blue Fin Capital Inc. now owns 46,273 shares of the biopharmaceutical company’s stock valued at $2,039,000 after acquiring an additional 469 shares during the last quarter. Vanguard Group Inc raised its stake in shares of Pfizer by 1.5% in the third quarter. Vanguard Group Inc now owns 441,792,969 shares of the biopharmaceutical company’s stock valued at $19,469,816,000 after acquiring an additional 6,620,749 shares during the last quarter. IMS Capital Management raised its stake in shares of Pfizer by 54.0% in the third quarter. IMS Capital Management now owns 8,783 shares of the biopharmaceutical company’s stock valued at $387,000 after acquiring an additional 3,080 shares during the last quarter. Finally, Rehmann Capital Advisory Group raised its stake in shares of Pfizer by 1.4% in the third quarter. Rehmann Capital Advisory Group now owns 125,426 shares of the biopharmaceutical company’s stock valued at $5,528,000 after acquiring an additional 1,759 shares during the last quarter. Hedge funds and other institutional investors own 68.61% of the company’s stock.
Shares of Pfizer stock opened at $41.78 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.57 and a quick ratio of 1.33. The company has a market capitalization of $248.71 billion, a P/E ratio of 13.93, a P/E/G ratio of 2.39 and a beta of 0.76. Pfizer Inc. has a fifty-two week low of $34.32 and a fifty-two week high of $46.47.
Pfizer announced that its board has approved a share repurchase program on Friday, December 14th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the biopharmaceutical company to reacquire up to 3.8% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.
In other Pfizer news, EVP Dawn Rogers sold 15,002 shares of Pfizer stock in a transaction on Monday, March 4th. The shares were sold at an average price of $42.98, for a total transaction of $644,785.96. Following the completion of the sale, the executive vice president now owns 28,722 shares of the company’s stock, valued at approximately $1,234,471.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Mikael Dolsten sold 100,471 shares of Pfizer stock in a transaction on Friday, March 1st. The stock was sold at an average price of $43.56, for a total transaction of $4,376,516.76. Following the sale, the insider now directly owns 390,097 shares of the company’s stock, valued at approximately $16,992,625.32. The disclosure for this sale can be found here. Insiders have sold a total of 308,826 shares of company stock valued at $13,346,258 in the last ninety days. Company insiders own 0.06% of the company’s stock.
A number of research analysts have recently issued reports on the stock. Zacks Investment Research cut shares of Pfizer from a “hold” rating to a “sell” rating in a research note on Friday, January 25th. Credit Suisse Group set a $42.00 target price on shares of Pfizer and gave the company a “hold” rating in a research note on Monday, November 26th. Cantor Fitzgerald reiterated a “buy” rating and issued a $53.00 target price on shares of Pfizer in a research note on Monday, November 19th. Atlantic Securities reissued a “buy” rating and issued a $54.00 price target on shares of Pfizer in a report on Tuesday, November 27th. Finally, ValuEngine lowered shares of Pfizer from a “buy” rating to a “hold” rating in a report on Thursday, January 24th. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and seven have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $44.89.
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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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