Concorde Asset Management LLC increased its position in shares of Pfizer Inc. (NYSE:PFE) by 46.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,228 shares of the biopharmaceutical company’s stock after buying an additional 4,493 shares during the period. Concorde Asset Management LLC’s holdings in Pfizer were worth $501,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Franklin Resources Inc. raised its position in Pfizer by 16.7% in the first quarter. Franklin Resources Inc. now owns 62,902,993 shares of the biopharmaceutical company’s stock worth $1,864,446,000 after buying an additional 9,005,107 shares in the last quarter. NN Investment Partners Holdings N.V. bought a new position in Pfizer during the first quarter worth about $242,144,000. First Manhattan Co. raised its position in shares of Pfizer by 127.5% in the first quarter. First Manhattan Co. now owns 8,335,663 shares of the biopharmaceutical company’s stock worth $247,069,000 after buying an additional 4,671,057 shares during the period. Jana Partners LLC raised its position in shares of Pfizer by 46.8% in the first quarter. Jana Partners LLC now owns 13,460,304 shares of the biopharmaceutical company’s stock worth $398,963,000 after buying an additional 4,291,486 shares during the period. Finally, Sound Shore Management Inc. CT acquired a new position in shares of Pfizer during the first quarter worth about $126,948,000. Institutional investors and hedge funds own 69.66% of the company’s stock.
Pfizer Inc. (NYSE:PFE) traded down 0.31% during mid-day trading on Friday, hitting $32.66. The stock had a trading volume of 15,569,339 shares. The company has a market capitalization of $198.10 billion, a P/E ratio of 28.95 and a beta of 0.86. The stock’s 50-day moving average is $34.02 and its 200 day moving average is $34.27. Pfizer Inc. has a 52 week low of $28.25 and a 52 week high of $37.39.
Pfizer (NYSE:PFE) last announced its quarterly earnings data on Tuesday, August 2nd. The biopharmaceutical company reported $0.64 earnings per share for the quarter, beating the 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 had revenue of $13.10 billion for the quarter, compared to analyst estimates of $13.01 billion. During the same quarter in the prior year, the business earned $0.56 earnings per share. The business’s quarterly revenue was up 10.9% compared to the same quarter last year. Equities analysts forecast that Pfizer Inc. will post $2.46 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Friday, November 11th will be issued a $0.30 dividend. The ex-dividend date is Tuesday, November 8th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.67%. Pfizer’s dividend payout ratio is presently 95.24%.
PFE has been the subject of a number of analyst reports. Vetr upgraded Pfizer from a “buy” rating to a “strong-buy” rating and set a $37.94 price target for the company in a research report on Monday, June 27th. Deutsche Bank AG reiterated a “buy” rating and set a $44.00 price target on shares of Pfizer in a research report on Thursday, August 18th. Credit Suisse Group AG reiterated an “outperform” rating and set a $40.00 price target on shares of Pfizer in a research report on Monday, August 22nd. Piper Jaffray Cos. set a $54.00 price target on Pfizer and gave the stock a “buy” rating in a research report on Tuesday, August 23rd. Finally, Jefferies Group set a $41.50 price target on Pfizer and gave the stock a “buy” rating in a research report on Thursday, July 14th. Eleven equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $38.59.
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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