Jolley Asset Management LLC raised its stake in Pfizer Inc. (NYSE:PFE) by 8.2% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 139,418 shares of the biopharmaceutical company’s stock after purchasing an additional 10,567 shares during the period. Pfizer comprises 3.3% of Jolley Asset Management LLC’s portfolio, making the stock its 7th largest holding. Jolley Asset Management LLC’s holdings in Pfizer were worth $5,009,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Weybosset Research & Management LLC raised its holdings in Pfizer by 2.0% during the second quarter. Weybosset Research & Management LLC now owns 12,847 shares of the biopharmaceutical company’s stock worth $557,000 after purchasing an additional 250 shares in the last quarter. Financial Gravity Wealth Inc. raised its holdings in Pfizer by 33.2% during the second quarter. Financial Gravity Wealth Inc. now owns 1,031 shares of the biopharmaceutical company’s stock worth $45,000 after purchasing an additional 257 shares in the last quarter. Intl Fcstone Inc. raised its holdings in Pfizer by 2.4% during the second quarter. Intl Fcstone Inc. now owns 11,140 shares of the biopharmaceutical company’s stock worth $483,000 after purchasing an additional 261 shares in the last quarter. Lee Financial Co raised its holdings in Pfizer by 6.2% during the second quarter. Lee Financial Co now owns 4,569 shares of the biopharmaceutical company’s stock worth $198,000 after purchasing an additional 265 shares in the last quarter. Finally, Keystone Financial Group raised its holdings in Pfizer by 1.8% during the second quarter. Keystone Financial Group now owns 15,532 shares of the biopharmaceutical company’s stock worth $673,000 after purchasing an additional 278 shares in the last quarter. Institutional investors own 71.70% of the company’s stock.
Several research analysts recently issued reports on PFE shares. Morgan Stanley cut their price target on shares of Pfizer from $40.00 to $38.00 and set an “equal weight” rating for the company in a report on Tuesday, August 27th. Zacks Investment Research raised shares of Pfizer from a “sell” rating to a “strong-buy” rating and set a $38.00 price target for the company in a report on Tuesday, October 1st. DZ Bank raised shares of Pfizer from a “sell” rating to a “hold” rating and set a $36.00 target price for the company in a report on Wednesday, August 28th. Bank of America cut shares of Pfizer from a “buy” rating to a “neutral” rating in a report on Tuesday, July 30th. Finally, Credit Suisse Group reaffirmed a “neutral” rating on shares of Pfizer in a report on Monday, August 12th. Twelve research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Pfizer presently has an average rating of “Hold” and a consensus price target of $45.20.
Pfizer stock traded up $0.15 during mid-day trading on Wednesday, reaching $36.65. The company had a trading volume of 324,405 shares, compared to its average volume of 18,777,486. Pfizer Inc. has a 1 year low of $33.97 and a 1 year high of $46.47. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.47 and a quick ratio of 1.21. The company has a market capitalization of $199.73 billion, a P/E ratio of 12.21, a P/E/G ratio of 2.87 and a beta of 0.66. The stock’s 50-day simple moving average is $36.09 and its 200-day simple moving average is $39.82.
Pfizer (NYSE:PFE) last issued its earnings results on Monday, July 29th. The biopharmaceutical company reported $0.80 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.75 by $0.05. Pfizer had a net margin of 23.58% and a return on equity of 28.10%. The company had revenue of $13.26 billion during the quarter, compared to analysts’ expectations of $13.43 billion. During the same period last year, the company posted $0.77 earnings per share. The firm’s quarterly revenue was down 1.5% compared to the same quarter last year. On average, equities analysts forecast that Pfizer Inc. will post 2.81 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be given a $0.36 dividend. The ex-dividend date is Thursday, November 7th. This represents a $1.44 annualized dividend and a dividend yield of 3.93%. Pfizer’s dividend payout ratio is presently 48.00%.
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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