Mechanics Bank Trust Department lowered its position in shares of Pfizer Inc. (NYSE:PFE) by 0.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 239,363 shares of the biopharmaceutical company’s stock after selling 1,720 shares during the period. Pfizer comprises approximately 3.1% of Mechanics Bank Trust Department’s investment portfolio, making the stock its 6th largest position. Mechanics Bank Trust Department’s holdings in Pfizer were worth $8,428,000 as of its most recent SEC filing.
Several other large investors have also recently added to or reduced their stakes in the stock. GW&K Investment Management LLC raised its stake in Pfizer by 4.6% in the first quarter. GW&K Investment Management LLC now owns 959,019 shares of the biopharmaceutical company’s stock worth $28,425,000 after buying an additional 41,757 shares in the last quarter. Kelman Lazarov Inc. purchased a new stake in Pfizer during the first quarter worth about $501,000. Oliver Luxxe Assets LLC raised its stake in Pfizer by 429.0% in the first quarter. Oliver Luxxe Assets LLC now owns 100,305 shares of the biopharmaceutical company’s stock worth $2,973,000 after buying an additional 81,343 shares in the last quarter. Howard Capital Management raised its stake in Pfizer by 1.4% in the first quarter. Howard Capital Management now owns 85,190 shares of the biopharmaceutical company’s stock worth $2,525,000 after buying an additional 1,162 shares in the last quarter. Finally, Montrusco Bolton Investments Inc. raised its stake in Pfizer by 32.2% in the first quarter. Montrusco Bolton Investments Inc. now owns 14,769 shares of the biopharmaceutical company’s stock worth $438,000 after buying an additional 3,599 shares in the last quarter. Institutional investors and hedge funds own 69.66% of the company’s stock.
Shares of Pfizer Inc. (NYSE:PFE) traded down 0.18% during midday trading on Wednesday, hitting $33.07. 15,138,664 shares of the company were exchanged. The company has a 50-day moving average of $34.20 and a 200 day moving average of $34.27. The company has a market capitalization of $200.59 billion, a P/E ratio of 29.32 and a beta of 0.86. Pfizer Inc. has a one year low of $28.25 and a one year high of $37.39.
Pfizer (NYSE:PFE) last released its quarterly earnings data on Tuesday, August 2nd. The biopharmaceutical company reported $0.64 EPS for the quarter, topping the Zacks’ consensus estimate of $0.62 by $0.02. Pfizer had a net margin of 14.88% and a return on equity of 23.37%. The firm earned $13.10 billion during the quarter, compared to analysts’ expectations of $13.01 billion. During the same period in the previous year, the business posted $0.56 earnings per share. The company’s revenue for the quarter was up 10.9% compared to the same quarter last year. On average, equities research analysts expect that Pfizer Inc. will post $2.46 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Friday, November 11th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Tuesday, November 8th. This represents a $1.20 dividend on an annualized basis and a yield of 3.63%. Pfizer’s dividend payout ratio (DPR) is 95.24%.
A number of equities research analysts have recently issued reports on the stock. Barclays PLC restated an “equal weight” rating and set a $34.00 price target on shares of Pfizer in a report on Tuesday, August 2nd. Sanford C. Bernstein set a $38.00 price objective on shares of Pfizer and gave the company a “buy” rating in a research report on Tuesday, August 2nd. Vetr downgraded shares of Pfizer from a “buy” rating to a “hold” rating and set a $37.97 price objective on the stock. in a research report on Thursday, July 14th. Jefferies Group set a $40.00 price objective on shares of Pfizer and gave the company a “buy” rating in a research report on Monday, August 1st. Finally, Piper Jaffray Cos. set a $54.00 price objective on shares of Pfizer and gave the company a “buy” rating in a research report on Monday, July 25th. Ten equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $38.78.
Pfizer Company Profile
Pfizer Inc is a research-based global biopharmaceutical company. The Company is engaged in discovering, developing and manufacturing of healthcare products. Its portfolio includes medicines, vaccines and medical devices, as well as consumer healthcare products. Its products include Prevnar/Prevenar 13, Lyrica, Enbrel, Lipitor, Viagra, Sutent, BeneFIX, Genotropin, ReFacto, Xyntha and Enbrel.
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