Destination Wealth Management boosted its stake in shares of Pfizer Inc. (NYSE:PFE) by 1.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 514,592 shares of the biopharmaceutical company’s stock after purchasing an additional 7,810 shares during the quarter. Destination Wealth Management’s holdings in Pfizer were worth $16,796,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the business. State Street Corp increased its holdings in Pfizer by 0.3% during the 1st quarter. State Street Corp now owns 292,621,398 shares of the biopharmaceutical company’s stock worth $9,551,162,000 after purchasing an additional 830,299 shares during the period. Capital World Investors boosted its position in shares of Pfizer by 13.4% during the 4th quarter. Capital World Investors now owns 188,715,390 shares of the biopharmaceutical company’s stock worth $7,393,867,000 after acquiring an additional 22,232,056 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Pfizer by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 89,043,762 shares of the biopharmaceutical company’s stock worth $3,482,382,000 after acquiring an additional 1,630,039 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Pfizer by 4.9% during the 4th quarter. Bank of New York Mellon Corp now owns 59,763,050 shares of the biopharmaceutical company’s stock worth $2,341,517,000 after acquiring an additional 2,783,991 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Pfizer during the 4th quarter worth about $2,326,225,000. Institutional investors own 70.28% of the company’s stock.

Several research firms have recently issued reports on PFE. Mizuho reaffirmed a “buy” rating and set a $42.00 price objective on shares of Pfizer in a research report on Monday, May 18th. JPMorgan Chase & Co. lowered their price objective on Pfizer from $37.00 to $36.00 and set a “neutral” rating for the company in a research report on Monday. Cantor Fitzgerald reaffirmed a “buy” rating and set a $53.00 price objective on shares of Pfizer in a research report on Thursday, March 19th. Zacks Investment Research cut Pfizer from a “buy” rating to a “hold” rating and set a $40.00 price objective for the company. in a research report on Monday, May 4th. Finally, Standpoint Research raised Pfizer from a “hold” rating to a “buy” rating in a research report on Thursday, February 27th. Nine equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $41.19.

In other news, SVP Jennifer B. Damico sold 2,181 shares of the stock in a transaction that occurred on Wednesday, April 29th. The stock was sold at an average price of $38.35, for a total transaction of $83,641.35. Following the completion of the transaction, the senior vice president now directly owns 9,647 shares of the company’s stock, valued at approximately $369,962.45. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Pfizer Inc bought 312,500 shares of the business’s stock in a transaction dated Monday, March 16th. The shares were acquired at an average cost of $16.00 per share, with a total value of $5,000,000.00. The disclosure for this purchase can be found here. 0.08% of the stock is currently owned by company insiders.

Shares of NYSE PFE traded down $2.64 during trading hours on Monday, reaching $35.55. The stock had a trading volume of 61,398,902 shares, compared to its average volume of 21,453,034. Pfizer Inc. has a fifty-two week low of $27.88 and a fifty-two week high of $44.56. The firm has a 50-day moving average of $37.10 and a 200-day moving average of $36.82. The company has a current ratio of 1.02, a quick ratio of 0.78 and a debt-to-equity ratio of 0.56. The firm has a market cap of $212.14 billion, a price-to-earnings ratio of 12.51, a PEG ratio of 2.79 and a beta of 0.70.

Pfizer (NYSE:PFE) last posted its quarterly earnings data on Tuesday, April 28th. The biopharmaceutical company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.09. Pfizer had a return on equity of 25.76% and a net margin of 31.17%. The company had revenue of $12.03 billion during the quarter, compared to analysts’ expectations of $11.38 billion. During the same period last year, the firm earned $0.85 EPS. The firm’s revenue for the quarter was down 8.3% on a year-over-year basis. On average, equities analysts predict that Pfizer Inc. will post 2.8 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 5th. Shareholders of record on Friday, May 8th will be given a dividend of $0.38 per share. The ex-dividend date is Thursday, May 7th. This represents a $1.52 dividend on an annualized basis and a yield of 4.28%. Pfizer’s payout ratio is 51.53%.

About Pfizer

Pfizer Inc discovers, develops, manufactures, and sells healthcare products worldwide. It offers medicines and vaccines in various therapeutic areas, including internal medicine, vaccines, oncology, inflammation and immunology, and rare diseases under the Lyrica, Chantix/Champix, Eliquis, Ibrance, Sutent, Xalkori, Inlyta, Xtandi, Enbrel, Xeljanz, Eucrisa, BeneFix, Genotropin, and Refacto AF/Xyntha brands.

Further Reading: Pattern Day Trader – What is the PDT Rule?

Want to see what other hedge funds are holding PFE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pfizer Inc. (NYSE:PFE).

Institutional Ownership by Quarter for Pfizer (NYSE:PFE)

Receive News & Ratings for Pfizer Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pfizer and related companies with MarketBeat.com's FREE daily email newsletter.