Mcrae Capital Management Inc. Trims Stock Holdings in Pfizer Inc. (NYSE:PFE)

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Mcrae Capital Management Inc. decreased its holdings in Pfizer Inc. (NYSE:PFE) by 1.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,850 shares of the biopharmaceutical company’s stock after selling 299 shares during the period. Mcrae Capital Management Inc.’s holdings in Pfizer were worth $687,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Claraphi Advisory Network LLC boosted its position in shares of Pfizer by 7.8% in the second quarter. Claraphi Advisory Network LLC now owns 13,330 shares of the biopharmaceutical company’s stock valued at $576,000 after acquiring an additional 967 shares during the period. Lake Street Financial LLC boosted its position in shares of Pfizer by 34.4% in the second quarter. Lake Street Financial LLC now owns 34,140 shares of the biopharmaceutical company’s stock valued at $1,479,000 after acquiring an additional 8,737 shares during the period. Connecticut Wealth Management LLC bought a new position in shares of Pfizer in the second quarter valued at approximately $251,000. Reik & CO. LLC boosted its position in shares of Pfizer by 3.8% in the second quarter. Reik & CO. LLC now owns 18,895 shares of the biopharmaceutical company’s stock valued at $819,000 after acquiring an additional 690 shares during the period. Finally, SG Americas Securities LLC boosted its position in shares of Pfizer by 684.1% in the second quarter. SG Americas Securities LLC now owns 926,405 shares of the biopharmaceutical company’s stock valued at $40,132,000 after acquiring an additional 808,260 shares during the period. Hedge funds and other institutional investors own 71.81% of the company’s stock.

A number of research firms have recently commented on PFE. JPMorgan Chase & Co. set a $46.00 price objective on shares of Pfizer and gave the company a “neutral” rating in a research report on Monday, July 29th. Barclays restated a “hold” rating and issued a $41.00 price objective on shares of Pfizer in a research report on Thursday, May 9th. Goldman Sachs Group restated a “buy” rating and issued a $49.00 price objective on shares of Pfizer in a research report on Monday, June 17th. Morgan Stanley lowered shares of Pfizer from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $48.00 to $40.00 in a research report on Tuesday, July 30th. Finally, UBS Group restated a “neutral” rating and issued a $43.00 price objective on shares of Pfizer in a research report on Monday, August 5th. Fourteen research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $46.56.

In other Pfizer news, insider Alexander R. Mackenzie sold 30,000 shares of Pfizer stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $44.00, for a total transaction of $1,320,000.00. Following the transaction, the insider now directly owns 80,094 shares of the company’s stock, valued at $3,524,136. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Frank A. Damelio sold 153,184 shares of Pfizer stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $44.09, for a total transaction of $6,753,882.56. Following the transaction, the executive vice president now directly owns 489,647 shares in the company, valued at $21,588,536.23. The disclosure for this sale can be found here. Company insiders own 0.09% of the company’s stock.

Pfizer stock traded up $0.25 during mid-day trading on Tuesday, hitting $35.64. 595,709 shares of the company traded hands, compared to its average volume of 30,291,382. Pfizer Inc. has a one year low of $35.86 and a one year high of $46.47. The firm has a market capitalization of $202.10 billion, a PE ratio of 11.90, a price-to-earnings-growth ratio of 2.90 and a beta of 0.63. The company has a current ratio of 1.54, a quick ratio of 1.27 and a debt-to-equity ratio of 0.60. The business’s fifty day moving average price is $41.55.

Pfizer (NYSE:PFE) last announced its earnings results on Monday, July 29th. The biopharmaceutical company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.05. Pfizer had a net margin of 23.58% and a return on equity of 27.57%. The business had revenue of $13.26 billion during the quarter, compared to analyst estimates of $13.43 billion. During the same period in the previous year, the business posted $0.77 earnings per share. Pfizer’s revenue for the quarter was down 1.5% on a year-over-year basis. As a group, sell-side analysts forecast that Pfizer Inc. will post 2.8 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Friday, August 2nd will be paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 4.04%. The ex-dividend date of this dividend is Thursday, August 1st. Pfizer’s dividend payout ratio (DPR) is presently 48.00%.

About Pfizer

Pfizer Inc discovers, develops, manufactures, and sells healthcare products worldwide. It offers medicines and vaccines in various therapeutic areas, including internal medicine, vaccines, oncology, inflammation and immunology, and rare diseases under the Lyrica, Chantix/Champix, Eliquis, Ibrance, Sutent, Xalkori, Inlyta, Xtandi, Enbrel, Xeljanz, Eucrisa, BeneFix, Genotropin, and Refacto AF/Xyntha brands.

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Institutional Ownership by Quarter for Pfizer (NYSE:PFE)

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