Westchester Capital Management Inc. Raises Stock Position in Pfizer Inc. (NYSE:PFE)

Share on StockTwits

Westchester Capital Management Inc. grew its holdings in Pfizer Inc. (NYSE:PFE) by 5.4% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 206,954 shares of the biopharmaceutical company’s stock after buying an additional 10,666 shares during the period. Pfizer makes up 2.9% of Westchester Capital Management Inc.’s portfolio, making the stock its 23rd largest holding. Westchester Capital Management Inc.’s holdings in Pfizer were worth $7,436,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Weybosset Research & Management LLC boosted its position in Pfizer by 2.0% in the 2nd quarter. Weybosset Research & Management LLC now owns 12,847 shares of the biopharmaceutical company’s stock valued at $557,000 after buying an additional 250 shares during the period. Financial Gravity Wealth Inc. boosted its position in Pfizer by 33.2% in the 2nd quarter. Financial Gravity Wealth Inc. now owns 1,031 shares of the biopharmaceutical company’s stock valued at $45,000 after buying an additional 257 shares during the period. Intl Fcstone Inc. boosted its position in Pfizer by 2.4% in the 2nd quarter. Intl Fcstone Inc. now owns 11,140 shares of the biopharmaceutical company’s stock valued at $483,000 after buying an additional 261 shares during the period. Lee Financial Co boosted its position in Pfizer by 6.2% in the 2nd quarter. Lee Financial Co now owns 4,569 shares of the biopharmaceutical company’s stock valued at $198,000 after buying an additional 265 shares during the period. Finally, Sheets Smith Wealth Management boosted its position in Pfizer by 0.6% in the 3rd quarter. Sheets Smith Wealth Management now owns 47,993 shares of the biopharmaceutical company’s stock valued at $1,724,000 after buying an additional 272 shares during the period. 71.52% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE:PFE traded up $0.14 during trading hours on Friday, hitting $37.05. The company’s stock had a trading volume of 24,924,227 shares, compared to its average volume of 23,366,957. Pfizer Inc. has a 52 week low of $33.97 and a 52 week high of $46.47. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.47 and a quick ratio of 1.21. The company has a market capitalization of $207.30 billion, a price-to-earnings ratio of 12.35, a P/E/G ratio of 2.11 and a beta of 0.67. The firm’s fifty day moving average price is $36.62 and its 200 day moving average price is $39.26.

Pfizer (NYSE:PFE) last posted its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.62 by $0.13. Pfizer had a net margin of 30.57% and a return on equity of 28.61%. The business had revenue of $12.68 billion during the quarter, compared to analyst estimates of $12.37 billion. During the same quarter in the previous year, the business posted $0.78 EPS. The company’s quarterly revenue was down 4.6% compared to the same quarter last year. On average, equities research analysts predict that Pfizer Inc. will post 2.96 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be issued a $0.36 dividend. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $1.44 annualized dividend and a dividend yield of 3.89%. Pfizer’s dividend payout ratio is currently 48.00%.

PFE has been the subject of several research reports. DZ Bank raised shares of Pfizer from a “sell” rating to a “hold” rating and set a $36.00 price objective for the company in a research report on Wednesday, August 28th. Bank of America initiated coverage on shares of Pfizer in a research report on Wednesday, October 16th. They issued a “neutral” rating and a $37.00 price objective for the company. Credit Suisse Group reissued a “hold” rating and issued a $41.30 price objective on shares of Pfizer in a research report on Wednesday. ValuEngine raised shares of Pfizer from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, Zacks Investment Research raised shares of Pfizer from a “sell” rating to a “strong-buy” rating and set a $38.00 price objective for the company in a research report on Tuesday, October 1st. Nine investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $44.02.

In other news, major shareholder Pfizer Inc acquired 50,000 shares of Pfizer stock in a transaction that occurred on Tuesday, September 17th. The stock was purchased at an average price of $18.00 per share, for a total transaction of $900,000.00. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Scott Gottlieb acquired 3,000 shares of Pfizer stock in a transaction that occurred on Friday, August 23rd. The shares were purchased at an average price of $34.72 per share, with a total value of $104,160.00. Following the purchase, the director now owns 3,000 shares in the company, valued at $104,160. The disclosure for this purchase can be found here. Insiders own 0.09% of the company’s stock.

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.

Featured Article: How to identify percentage decliners

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.

 


Latest News

Yu Darvish Receives Cortisone Shot for Elbow Impingement
Yu Darvish Receives Cortisone Shot for Elbow Impingement
Red Sox and Brandon Phillips Agree to Minor League Deal
Red Sox and Brandon Phillips Agree to Minor League Deal
Chris Sale Proves He is 2018 AL Cy Young Candidate
Chris Sale Proves He is 2018 AL Cy Young Candidate
Strong Results by Clint Frazier Could Keep Him with Yankees
Strong Results by Clint Frazier Could Keep Him with Yankees
Giants Closer Breaks Hand Punching Door Following Poor Outing
Giants Closer Breaks Hand Punching Door Following Poor Outing
Evan Longoria Out Six to Eight Weeks With Broken Hand
Evan Longoria Out Six to Eight Weeks With Broken Hand


 
© 2006-2019 BBNS.