Eliot Finkel Investment Counsel LLC Cuts Holdings in Pfizer Inc. (NYSE:PFE)

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Eliot Finkel Investment Counsel LLC lowered its stake in shares of Pfizer Inc. (NYSE:PFE) by 1.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 148,136 shares of the biopharmaceutical company’s stock after selling 2,500 shares during the quarter. Pfizer accounts for 5.3% of Eliot Finkel Investment Counsel LLC’s holdings, making the stock its 7th biggest holding. Eliot Finkel Investment Counsel LLC’s holdings in Pfizer were worth $4,835,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Destination Wealth Management increased its position in shares of Pfizer by 1.5% during the 1st quarter. Destination Wealth Management now owns 514,592 shares of the biopharmaceutical company’s stock valued at $16,796,000 after purchasing an additional 7,810 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its position in shares of Pfizer by 8.1% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 6,400,373 shares of the biopharmaceutical company’s stock valued at $208,908,000 after purchasing an additional 481,971 shares during the last quarter. M Holdings Securities Inc. increased its position in shares of Pfizer by 52.6% during the 1st quarter. M Holdings Securities Inc. now owns 79,991 shares of the biopharmaceutical company’s stock valued at $2,611,000 after purchasing an additional 27,565 shares during the last quarter. Great Point Wealth Advisors LLC increased its position in shares of Pfizer by 6.4% during the 1st quarter. Great Point Wealth Advisors LLC now owns 7,011 shares of the biopharmaceutical company’s stock valued at $228,000 after purchasing an additional 420 shares during the last quarter. Finally, OPSEU Pension Plan Trust Fund bought a new position in Pfizer in the 1st quarter valued at $586,000. 70.28% of the stock is currently owned by hedge funds and other institutional investors.

Shares of PFE stock traded down $2.59 during mid-day trading on Monday, hitting $35.60. The stock had a trading volume of 3,596,432 shares, compared to its average volume of 21,453,034. Pfizer Inc. has a 12-month low of $27.88 and a 12-month high of $44.56. The firm has a market capitalization of $212.14 billion, a P/E ratio of 12.51, a price-to-earnings-growth ratio of 2.79 and a beta of 0.70. The firm’s 50-day moving average is $37.10 and its two-hundred day moving average is $36.82. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.02 and a quick ratio of 0.78.

Pfizer (NYSE:PFE) last issued its earnings results on Tuesday, April 28th. The biopharmaceutical company reported $0.80 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.09. The business had revenue of $12.03 billion during the quarter, compared to analysts’ expectations of $11.38 billion. Pfizer had a return on equity of 25.76% and a net margin of 31.17%. The business’s revenue for the quarter was down 8.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.85 EPS. Analysts expect that Pfizer Inc. will post 2.8 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 5th. Investors of record on Friday, May 8th will be paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.27%. The ex-dividend date of this dividend is Thursday, May 7th. Pfizer’s dividend payout ratio (DPR) is currently 51.53%.

In related news, major shareholder Pfizer Inc acquired 312,500 shares of the firm’s stock in a transaction that occurred on Monday, March 16th. The stock was purchased at an average cost of $16.00 per share, for a total transaction of $5,000,000.00. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Jennifer B. Damico sold 2,181 shares of the company’s stock in a transaction on Wednesday, April 29th. The stock was sold at an average price of $38.35, for a total value of $83,641.35. Following the sale, the senior vice president now owns 9,647 shares of the company’s stock, valued at $369,962.45. The disclosure for this sale can be found here. Corporate insiders own 0.08% of the company’s stock.

Several equities analysts have commented on the company. Morgan Stanley cut their price objective on Pfizer from $43.00 to $36.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 2nd. Mizuho reaffirmed a “buy” rating and issued a $42.00 price objective on shares of Pfizer in a research report on Monday, May 18th. JPMorgan Chase & Co. cut their price objective on Pfizer from $37.00 to $36.00 and set a “neutral” rating on the stock in a research report on Monday. Standpoint Research raised Pfizer from a “hold” rating to a “buy” rating in a research report on Thursday, February 27th. Finally, Cantor Fitzgerald reaffirmed a “buy” rating and issued a $53.00 price objective on shares of Pfizer in a research report on Thursday, March 19th. Nine research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $41.19.

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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