Pfizer, Inc. (NYSE:PFE) Position Cut by Westpac Banking Corp

Westpac Banking Corp lowered its stake in Pfizer, Inc. (NYSE:PFE) by 19.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 815,793 shares of the biopharmaceutical company’s stock after selling 198,307 shares during the period. Westpac Banking Corp’s holdings in Pfizer were worth $26,031,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in PFE. Asset Planning Services Ltd. boosted 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. Orrstown Financial Services Inc. boosted its stake in shares of Pfizer by 23.0% in the first quarter. Orrstown Financial Services Inc. now owns 3,275 shares of the biopharmaceutical company’s stock worth $112,000 after buying an additional 612 shares during the period. Cable Hill Partners LLC boosted its stake in shares of Pfizer by 6.0% in the first quarter. Cable Hill Partners LLC now owns 4,664 shares of the biopharmaceutical company’s stock worth $160,000 after buying an additional 265 shares during the period. D Orazio & Associates Inc. boosted its stake in shares of Pfizer by 0.5% in the fourth quarter. D Orazio & Associates Inc. now owns 5,223 shares of the biopharmaceutical company’s stock worth $170,000 after buying an additional 28 shares during the period. Finally, Acropolis Investment Management LLC boosted its stake in shares of Pfizer by 1.9% in the first quarter. Acropolis Investment Management LLC now owns 5,251 shares of the biopharmaceutical company’s stock worth $180,000 after buying an additional 100 shares during the period. 69.94% of the stock is owned by hedge funds and other institutional investors.

Pfizer, Inc. (NYSE:PFE) opened at 32.67 on Friday. The company has a market capitalization of $194.30 billion, a P/E ratio of 23.90 and a beta of 1.00. Pfizer, Inc. has a 12 month low of $29.83 and a 12 month high of $35.38. The stock’s 50 day moving average price is $33.30 and its 200-day moving average price is $33.38.

Pfizer (NYSE:PFE) last posted its quarterly earnings data on Tuesday, August 1st. The biopharmaceutical company reported $0.67 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.02. Pfizer had a return on equity of 24.51% and a net margin of 15.84%. The company had revenue of $12.90 billion during the quarter, compared to analyst estimates of $13.08 billion. During the same quarter last year, the company earned $0.64 EPS. The firm’s revenue for the quarter was down 1.9% on a year-over-year basis. On average, equities research analysts predict that Pfizer, Inc. will post $2.56 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 4th will be given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 3.92%. The ex-dividend date is Wednesday, August 2nd. Pfizer’s dividend payout ratio (DPR) is presently 94.12%.

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PFE has been the subject of a number of recent analyst reports. Citigroup Inc. cut Pfizer from a “neutral” rating to a “sell” rating and lowered their price target for the company from $38.00 to $31.00 in a research note on Tuesday, May 16th. Credit Suisse Group cut Pfizer from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $38.00 to $36.00 in a research note on Thursday, July 20th. Zacks Investment Research raised Pfizer from a “sell” rating to a “hold” rating in a research note on Friday, July 14th. Barclays PLC reaffirmed a “buy” rating and issued a $38.00 price target on shares of Pfizer in a research note on Wednesday, May 3rd. Finally, Sanford C. Bernstein reaffirmed a “buy” rating and issued a $37.00 price target on shares of Pfizer in a research note on Wednesday, May 3rd. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and ten have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $37.61.

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 transaction of $502,500.00. Following the completion of the transaction, the insider now owns 151,474 shares of the company’s stock, valued at approximately $5,074,379. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 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. 0.06% of the stock is owned by company insiders.

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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