Victory Capital Management Inc. decreased its stake in shares of Pfizer Inc. (NYSE:PFE) by 3.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 527,013 shares of the biopharmaceutical company’s stock after selling 18,041 shares during the period. Victory Capital Management Inc.’s holdings in Pfizer were worth $18,704,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. grew its position in shares of Pfizer by 2.8% in the fourth quarter. BlackRock Inc. now owns 452,745,609 shares of the biopharmaceutical company’s stock valued at $16,398,445,000 after purchasing an additional 12,183,218 shares during the period. Bank of New York Mellon Corp grew its position in shares of Pfizer by 11.9% in the fourth quarter. Bank of New York Mellon Corp now owns 70,738,885 shares of the biopharmaceutical company’s stock valued at $2,562,162,000 after purchasing an additional 7,534,957 shares during the period. Geode Capital Management LLC grew its position in shares of Pfizer by 3.1% in the fourth quarter. Geode Capital Management LLC now owns 63,123,777 shares of the biopharmaceutical company’s stock valued at $2,281,563,000 after purchasing an additional 1,881,570 shares during the period. Fisher Asset Management LLC grew its position in shares of Pfizer by 3.6% in the fourth quarter. Fisher Asset Management LLC now owns 36,372,349 shares of the biopharmaceutical company’s stock valued at $1,317,407,000 after purchasing an additional 1,251,550 shares during the period. Finally, Schwab Charles Investment Management Inc. grew its position in Pfizer by 2.3% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 34,547,216 shares of the biopharmaceutical company’s stock valued at $1,251,306,000 after acquiring an additional 790,097 shares during the period. 69.44% of the stock is owned by institutional investors.
Shares of Pfizer opened at $36.28 on Monday, according to Marketbeat.com. The stock has a market cap of $215.97 billion, a price-to-earnings ratio of 13.69, a P/E/G ratio of 1.80 and a beta of 0.91. Pfizer Inc. has a 12 month low of $32.32 and a 12 month high of $39.43. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.98 and a current ratio of 1.27.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 4th. Shareholders of record on Friday, August 3rd will be paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.75%. The ex-dividend date is Thursday, August 2nd. Pfizer’s dividend payout ratio is presently 51.32%.
In related news, CEO Ian C. Read sold 132,312 shares of the business’s stock in a transaction dated Tuesday, May 1st. The stock was sold at an average price of $36.01, for a total value of $4,764,555.12. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Laurie J. Olson sold 19,000 shares of the business’s stock in a transaction dated Wednesday, June 6th. The stock was sold at an average price of $36.45, for a total value of $692,550.00. Following the completion of the transaction, the executive vice president now owns 98,644 shares in the company, valued at approximately $3,595,573.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 156,535 shares of company stock worth $5,647,222. 0.06% of the stock is currently owned by insiders.
A number of research firms have issued reports on PFE. Cantor Fitzgerald began coverage on Pfizer in a research report on Thursday, June 7th. They set an “overweight” rating and a $45.00 price target for the company. Jefferies Financial Group set a $38.00 price target on Pfizer and gave the company a “hold” rating in a research report on Friday, April 13th. BMO Capital Markets lowered their price target on Pfizer from $43.00 to $42.00 and set an “outperform” rating for the company in a research report on Wednesday, May 2nd. Citigroup reissued a “sell” rating on shares of Pfizer in a research report on Thursday, April 12th. Finally, Morningstar set a $43.50 price target on Pfizer and gave the company a “buy” rating in a research report on Wednesday, May 2nd. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and ten have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $40.27.
Pfizer Company Profile
Pfizer Inc discovers, develops, manufactures, and sells healthcare products worldwide. It operates in two segments, Pfizer Innovative Health (IH) and Pfizer Essential Health (EH). The IH segment focuses on the development and commercialization of medicines and vaccines, and consumer healthcare products in various therapeutic areas, including internal medicine, vaccines, oncology, inflammation and immunology, and rare diseases, as well as consumer healthcare, such as over-the-counter brands comprising dietary supplements, pain management, gastrointestinal, and respiratory and personal care.
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