Westchester Capital Management Inc. Grows Position in Pfizer, Inc. (NYSE:PFE)

Westchester Capital Management Inc. lifted its stake in Pfizer, Inc. (NYSE:PFE) by 1.1% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 179,507 shares of the biopharmaceutical company’s stock after purchasing an additional 1,920 shares during the quarter. Pfizer comprises 2.9% of Westchester Capital Management Inc.’s portfolio, making the stock its 23rd biggest holding. Westchester Capital Management Inc.’s holdings in Pfizer were worth $6,141,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the company. Naples Global Advisors LLC boosted its holdings in shares of Pfizer by 0.3% in the 1st quarter. Naples Global Advisors LLC now owns 24,552 shares of the biopharmaceutical company’s stock worth $840,000 after purchasing an additional 79 shares during the period. Pure Financial Advisors Inc. boosted its holdings in shares of Pfizer by 0.4% in the 1st quarter. Pure Financial Advisors Inc. now owns 22,091 shares of the biopharmaceutical company’s stock worth $756,000 after purchasing an additional 84 shares during the period. Alpha Windward LLC boosted its holdings in shares of Pfizer by 1.1% in the 1st quarter. Alpha Windward LLC now owns 8,387 shares of the biopharmaceutical company’s stock worth $287,000 after purchasing an additional 89 shares during the period. Peachtree Investment Advisors Inc. boosted its holdings in shares of Pfizer by 1.3% in the 1st quarter. Peachtree Investment Advisors Inc. now owns 7,516 shares of the biopharmaceutical company’s stock worth $257,000 after purchasing an additional 100 shares during the period. Finally, Acropolis Investment Management LLC lifted its stake in shares of Pfizer by 1.9% during the 1st quarter. Acropolis Investment Management LLC now owns 5,251 shares of the biopharmaceutical company’s stock worth $180,000 after acquiring an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 69.09% of the company’s stock.

A number of equities research analysts recently issued reports on the company. BMO Capital Markets reissued a “buy” rating and set a $37.00 price target on shares of Pfizer in a research note on Thursday. BidaskClub raised Pfizer from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 5th. Jefferies Group LLC set a $35.00 price target on Pfizer and gave the stock a “neutral” rating in a research note on Wednesday, August 2nd. Credit Suisse Group lowered Pfizer from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $38.00 to $36.00 in a research note on Thursday, July 20th. Finally, Cowen and Company set a $43.00 price target on Pfizer and gave the stock a “buy” rating in a research note on Monday, July 10th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and ten have assigned a buy rating to the stock. Pfizer has an average rating of “Hold” and a consensus price target of $37.72.

In other Pfizer news, insider Alexander R. Mackenzie sold 15,000 shares of the firm’s stock in a transaction 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 sale, the insider now directly owns 151,474 shares in the company, valued at $5,074,379. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Sally Susman sold 38,230 shares of the firm’s stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $35.00, for a total value of $1,338,050.00. Following the completion of the sale, the insider now owns 145,649 shares in the company, valued at $5,097,715. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 464,521 shares of company stock worth $15,813,961. 0.06% of the stock is owned by insiders.

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Shares of Pfizer, Inc. (PFE) traded down 1.04% on Friday, reaching $35.36. The company had a trading volume of 28,871,059 shares. The firm’s 50 day moving average is $33.64 and its 200 day moving average is $33.53. Pfizer, Inc. has a 12 month low of $29.83 and a 12 month high of $35.84. The firm has a market capitalization of $210.30 billion, a PE ratio of 25.87 and a beta of 1.00.

Pfizer (NYSE:PFE) last announced its quarterly earnings data on Tuesday, August 1st. The biopharmaceutical company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.02. The business had revenue of $12.90 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period last year, the firm earned $0.64 earnings per share. On average, equities research analysts expect that Pfizer, Inc. will post $2.56 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Friday, August 4th were paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 3.62%. The ex-dividend date of this dividend was Wednesday, August 2nd. Pfizer’s dividend payout ratio is presently 94.12%.

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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