Longview Partners Guernsey LTD grew its stake in shares of Pfizer Inc. (NYSE:PFE) by 32.0% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 24,369,672 shares of the biopharmaceutical company’s stock after buying an additional 5,901,100 shares during the quarter. Pfizer makes up 4.7% of Longview Partners Guernsey LTD’s holdings, making the stock its 15th biggest holding. Longview Partners Guernsey LTD owned approximately 1.47% of Pfizer worth $869,997,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. HL Financial Services LLC lifted its holdings in shares of Pfizer by 1.1% during the second quarter. HL Financial Services LLC now owns 3,222,985 shares of the biopharmaceutical company’s stock worth $108,260,000 after purchasing an additional 35,744 shares during the period. Hartford Financial Management Inc. lifted its holdings in Pfizer by 10.8% in the second quarter. Hartford Financial Management Inc. now owns 8,538 shares of the biopharmaceutical company’s stock valued at $286,000 after buying an additional 835 shares during the period. Cadence Bank NA lifted its holdings in Pfizer by 1.4% in the second quarter. Cadence Bank NA now owns 99,962 shares of the biopharmaceutical company’s stock valued at $3,358,000 after buying an additional 1,428 shares during the period. Majedie Asset Management Ltd lifted its holdings in Pfizer by 7.9% in the second quarter. Majedie Asset Management Ltd now owns 336,991 shares of the biopharmaceutical company’s stock valued at $11,320,000 after buying an additional 24,531 shares during the period. Finally, Stanley Laman Group Ltd. lifted its holdings in Pfizer by 373.7% in the second quarter. Stanley Laman Group Ltd. now owns 114,284 shares of the biopharmaceutical company’s stock valued at $3,839,000 after buying an additional 90,160 shares during the period. 69.75% of the stock is currently owned by hedge funds and other institutional investors.
In related news, EVP Rady A. Johnson sold 8,000 shares of the company’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $37.07, for a total transaction of $296,560.00. Following the sale, the executive vice president now directly owns 46,963 shares in the company, valued at approximately $1,740,918.41. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Alexander R. Mackenzie sold 6,750 shares of the company’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $37.00, for a total transaction of $249,750.00. Following the sale, the insider now owns 103,458 shares in the company, valued at $3,827,946. The disclosure for this sale can be found here. Over the last quarter, insiders sold 29,450 shares of company stock worth $1,065,220. Corporate insiders own 0.06% of the company’s stock.
Pfizer (NYSE:PFE) last released its earnings results on Tuesday, October 31st. The biopharmaceutical company reported $0.67 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.02. The firm had revenue of $13.17 billion for the quarter, compared to analysts’ expectations of $13.17 billion. Pfizer had a net margin of 18.69% and a return on equity of 25.41%. The company’s quarterly revenue was up .9% on a year-over-year basis. During the same period in the previous year, the company earned $0.61 earnings per share. equities research analysts anticipate that Pfizer Inc. will post 2.59 EPS for the current year.
Pfizer announced that its board has initiated a stock buyback program on Monday, December 18th that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the biopharmaceutical company to repurchase shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Friday, February 2nd will be paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 3.72%. This is a boost from Pfizer’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Thursday, February 1st. Pfizer’s payout ratio is presently 78.53%.
Several research firms recently issued reports on PFE. Morgan Stanley set a $41.00 target price on shares of Pfizer and gave the company a “buy” rating in a report on Friday, January 5th. BMO Capital Markets set a $39.00 target price on shares of Pfizer and gave the company a “buy” rating in a report on Monday, January 8th. Vetr lowered shares of Pfizer from a “buy” rating to a “hold” rating and set a $37.98 target price on the stock. in a report on Monday. Deutsche Bank set a $38.00 price objective on shares of Pfizer and gave the company a “buy” rating in a report on Wednesday, October 11th. Finally, Zacks Investment Research lowered shares of Pfizer from a “buy” rating to a “hold” rating in a report on Wednesday, October 11th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $38.83.
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Pfizer Inc (Pfizer) is a research-based global biopharmaceutical company. The Company is engaged in the discovery, development and manufacture of healthcare products. Its global portfolio includes medicines and vaccines, as well as consumer healthcare products. The Company manages its commercial operations through two business segments: Pfizer Innovative Health (IH) and Pfizer Essential Health (EH).
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