EFG Asset Management Americas Corp. Trims Stake in Pfizer Inc. (PFE)

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EFG Asset Management Americas Corp. cut its stake in shares of Pfizer Inc. (NYSE:PFE) by 23.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,700 shares of the biopharmaceutical company’s stock after selling 2,627 shares during the quarter. EFG Asset Management Americas Corp.’s holdings in Pfizer were worth $316,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PFE. BlackRock Inc. boosted its position in shares of Pfizer by 1.5% in the first quarter. BlackRock Inc. now owns 459,530,944 shares of the biopharmaceutical company’s stock worth $16,308,754,000 after buying an additional 6,785,335 shares during the period. Massachusetts Financial Services Co. MA boosted its position in shares of Pfizer by 0.3% in the second quarter. Massachusetts Financial Services Co. MA now owns 61,881,280 shares of the biopharmaceutical company’s stock worth $2,245,053,000 after buying an additional 160,730 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Pfizer by 11.9% in the first quarter. Dimensional Fund Advisors LP now owns 47,174,487 shares of the biopharmaceutical company’s stock worth $1,674,223,000 after buying an additional 4,998,981 shares during the period. Fisher Asset Management LLC boosted its position in shares of Pfizer by 4.4% in the second quarter. Fisher Asset Management LLC now owns 39,445,117 shares of the biopharmaceutical company’s stock worth $1,431,069,000 after buying an additional 1,671,311 shares during the period. Finally, LSV Asset Management boosted its position in shares of Pfizer by 4.2% in the first quarter. LSV Asset Management now owns 35,801,094 shares of the biopharmaceutical company’s stock worth $1,270,580,000 after buying an additional 1,440,402 shares during the period. 69.01% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE:PFE opened at $43.06 on Thursday. The company has a quick ratio of 0.91, a current ratio of 1.16 and a debt-to-equity ratio of 0.41. Pfizer Inc. has a 1 year low of $33.20 and a 1 year high of $45.81. The firm has a market cap of $253.59 billion, a P/E ratio of 16.25, a PEG ratio of 2.21 and a beta of 0.96.

Pfizer (NYSE:PFE) last announced its quarterly earnings data on Tuesday, October 30th. The biopharmaceutical company reported $0.78 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.75 by $0.03. Pfizer had a return on equity of 25.35% and a net margin of 42.35%. The business had revenue of $13.30 billion during the quarter, compared to analyst estimates of $13.53 billion. During the same period last year, the company earned $0.67 earnings per share. Pfizer’s quarterly revenue was up 1.0% compared to the same quarter last year. Analysts anticipate that Pfizer Inc. will post 2.99 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 3rd. Investors of record on Friday, November 9th will be issued a dividend of $0.34 per share. The ex-dividend date is Thursday, November 8th. This represents a $1.36 annualized dividend and a dividend yield of 3.16%. Pfizer’s dividend payout ratio is 51.32%.

In related news, insider Laurie J. Olson sold 10,214 shares of the stock in a transaction on Monday, August 13th. The stock was sold at an average price of $41.00, for a total transaction of $418,774.00. Following the completion of the sale, the insider now directly owns 72,672 shares in the company, valued at $2,979,552. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Alexander R. Mackenzie sold 25,642 shares of the stock in a transaction on Friday, August 3rd. The stock was sold at an average price of $39.51, for a total value of $1,013,115.42. Following the sale, the insider now owns 127,954 shares of the company’s stock, valued at $5,055,462.54. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by company insiders.

PFE has been the subject of several recent analyst reports. Jefferies Financial Group reaffirmed a “neutral” rating and issued a $39.00 target price on shares of Pfizer in a research report on Monday, July 9th. JPMorgan Chase & Co. reaffirmed a “buy” rating and issued a $42.00 target price on shares of Pfizer in a research report on Wednesday, July 11th. Cantor Fitzgerald set a $45.00 target price on Pfizer and gave the stock a “buy” rating in a research report on Wednesday, July 11th. Credit Suisse Group set a $39.00 target price on Pfizer and gave the stock a “neutral” rating in a research report on Thursday, July 12th. Finally, Zacks Investment Research cut Pfizer from a “buy” rating to a “hold” rating in a research report on Sunday, July 15th. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and nine have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $42.80.

About Pfizer

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.

Further Reading: Intrinsic Value and Stock Selection

Institutional Ownership by Quarter for Pfizer (NYSE:PFE)

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