Duality Advisers LP Acquires New Position in Pfizer Inc. (NYSE:PFE)
Duality Advisers LP purchased a new stake in shares of Pfizer Inc. (NYSE:PFE) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 68,027 shares of the biopharmaceutical company’s stock, valued at approximately $2,224,000.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Capital World Investors boosted its stake in shares of Pfizer by 19.1% during the first quarter. Capital World Investors now owns 224,808,113 shares of the biopharmaceutical company’s stock valued at $7,337,737,000 after purchasing an additional 36,092,723 shares during the period. Wellington Management Group LLP grew its position in shares of Pfizer by 12.9% in the 1st quarter. Wellington Management Group LLP now owns 218,676,145 shares of the biopharmaceutical company’s stock worth $7,137,589,000 after buying an additional 24,950,461 shares during the period. APG Asset Management N.V. increased its stake in shares of Pfizer by 347.2% in the 1st quarter. APG Asset Management N.V. now owns 13,556,380 shares of the biopharmaceutical company’s stock worth $512,748,000 after acquiring an additional 10,524,792 shares in the last quarter. Nuveen Asset Management LLC lifted its position in Pfizer by 30.9% during the 1st quarter. Nuveen Asset Management LLC now owns 40,753,427 shares of the biopharmaceutical company’s stock valued at $1,330,192,000 after acquiring an additional 9,624,759 shares during the period. Finally, Swiss National Bank boosted its stake in Pfizer by 20.9% during the first quarter. Swiss National Bank now owns 23,038,291 shares of the biopharmaceutical company’s stock worth $751,970,000 after acquiring an additional 3,985,000 shares in the last quarter. 70.20% of the stock is currently owned by institutional investors.
In other news, SVP Jennifer B. Damico sold 2,181 shares of the stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $36.13, for a total value of $78,799.53. Following the transaction, the senior vice president now owns 7,542 shares in the company, valued at approximately $272,492.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.08% of the stock is owned by corporate insiders.
Pfizer (NYSE:PFE) last released its quarterly earnings results on Tuesday, July 28th. The biopharmaceutical company reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.14. The firm had revenue of $11.80 billion for the quarter, compared to analysts’ expectations of $11.55 billion. Pfizer had a return on equity of 25.10% and a net margin of 28.80%. The company’s revenue was down 11.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.80 EPS. As a group, equities analysts predict that Pfizer Inc. will post 2.89 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, July 31st will be paid a dividend of $0.38 per share. The ex-dividend date is Thursday, July 30th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.95%. Pfizer’s dividend payout ratio is currently 51.53%.
Several analysts recently weighed in on PFE shares. Morgan Stanley upped their price target on Pfizer from $36.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Thursday. JPMorgan Chase & Co. cut their target price on Pfizer from $37.00 to $36.00 and set a “neutral” rating on the stock in a research note on Monday, June 1st. Zacks Investment Research cut shares of Pfizer from a “buy” rating to a “hold” rating and set a $40.00 price target on the stock. in a research note on Monday, May 4th. Mizuho restated a “buy” rating and set a $38.00 price objective on shares of Pfizer in a research note on Tuesday. Finally, SVB Leerink upped their target price on shares of Pfizer from $39.00 to $42.00 and gave the stock a “market perform” rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $38.95.
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.
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