Hallmark Capital Management Inc. Cuts Holdings in Pfizer, Inc. (NYSE:PFE)

Hallmark Capital Management Inc. cut its holdings in shares of Pfizer, Inc. (NYSE:PFE) by 7.2% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 54,574 shares of the biopharmaceutical company’s stock after selling 4,226 shares during the quarter. Hallmark Capital Management Inc.’s holdings in Pfizer were worth $1,833,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Asset Planning Services Ltd. increased its stake in shares of Pfizer by 4.9% in the first quarter. Asset Planning Services Ltd. now owns 2,961 shares of the biopharmaceutical company’s stock worth $101,000 after buying an additional 137 shares during the period. Franklin Parlapiano Turner & Welch LLC purchased a new position in shares of Pfizer in the first quarter worth $121,000. Patten Group Inc. increased its stake in shares of Pfizer by 5.1% in the first quarter. Patten Group Inc. now owns 5,181 shares of the biopharmaceutical company’s stock worth $177,000 after buying an additional 252 shares during the period. Acropolis Investment Management LLC increased its stake in shares of Pfizer by 6.7% in the second quarter. Acropolis Investment Management LLC now owns 5,603 shares of the biopharmaceutical company’s stock worth $188,000 after buying an additional 352 shares during the period. Finally, Kimelman & Baird LLC purchased a new position in shares of Pfizer in the first quarter worth $203,000. 68.98% of the stock is currently owned by hedge funds and other institutional investors.

In related news, insider Alexander R. Mackenzie sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $33.50, for a total value of $502,500.00. Following the completion of the transaction, the insider now directly owns 151,474 shares of the company’s stock, valued at approximately $5,074,379. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ian C. Read sold 96,950 shares of the firm’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $34.00, for a total value of $3,296,300.00. The disclosure for this sale can be found here. Insiders sold a total of 464,521 shares of company stock valued at $15,813,961 over the last ninety days. 0.06% of the stock is currently owned by company insiders.

Shares of Pfizer, Inc. (NYSE PFE) traded down 0.649% on Wednesday, hitting $35.965. The company had a trading volume of 7,116,760 shares. The company has a market capitalization of $213.90 billion, a price-to-earnings ratio of 26.309 and a beta of 1.00. The stock’s 50-day moving average is $35.25 and its 200 day moving average is $33.76. Pfizer, Inc. has a 52 week low of $29.83 and a 52 week high of $36.60.

Pfizer (NYSE:PFE) last issued its earnings results on Tuesday, August 1st. The biopharmaceutical company reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.02. The business had revenue of $12.90 billion during the quarter, compared to the consensus estimate of $13.08 billion. Pfizer had a return on equity of 24.51% and a net margin of 15.84%. The company’s revenue for the quarter was down 1.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.64 EPS. Equities analysts expect that Pfizer, Inc. will post $2.56 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Friday, November 10th will be paid a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 3.54%. The ex-dividend date of this dividend is Thursday, November 9th. Pfizer’s payout ratio is currently 94.12%.

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PFE has been the topic of several recent analyst reports. Cowen and Company set a $43.00 price target on shares of Pfizer and gave the company a “buy” rating in a report on Monday, August 14th. Jefferies Group LLC set a $35.00 price target on shares of Pfizer and gave the company a “neutral” rating in a report on Thursday, August 24th. Berenberg Bank reiterated a “hold” rating and issued a $36.00 price target (down previously from $39.00) on shares of Pfizer in a report on Tuesday, August 15th. Deutsche Bank AG set a $38.00 price target on shares of Pfizer and gave the company a “buy” rating in a report on Wednesday, October 11th. Finally, BidaskClub cut shares of Pfizer from a “sell” rating to a “strong sell” rating in a report on Thursday, July 13th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $38.15.

About Pfizer

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).

Institutional Ownership by Quarter for Pfizer (NYSE:PFE)

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