Sterling Investment Management Inc. cut its stake in shares of Pfizer Inc. (NYSE:PFE) by 3.7% during the second quarter, Holdings Channel reports. The institutional investor owned 60,052 shares of the biopharmaceutical company’s stock after selling 2,287 shares during the period. Pfizer makes up approximately 1.7% of Sterling Investment Management Inc.’s investment portfolio, making the stock its 24th largest position. Sterling Investment Management Inc.’s holdings in Pfizer were worth $1,452,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in the stock. Stelac Advisory Services LLC acquired a new stake in Pfizer during the second quarter worth approximately $110,000. Catamount Wealth Management increased its position in Pfizer by 14.2% in the first quarter. Catamount Wealth Management now owns 4,395 shares of the biopharmaceutical company’s stock valued at $130,000 after buying an additional 545 shares in the last quarter. Commonwealth Financial Services LLC increased its position in Pfizer by 5.5% in the second quarter. Commonwealth Financial Services LLC now owns 4,023 shares of the biopharmaceutical company’s stock valued at $142,000 after buying an additional 210 shares in the last quarter. Stuart Chaussee & Associates Inc. increased its position in Pfizer by 64.3% in the second quarter. Stuart Chaussee & Associates Inc. now owns 5,430 shares of the biopharmaceutical company’s stock valued at $193,000 after buying an additional 2,125 shares in the last quarter. Finally, Financial Management Professionals Inc. increased its position in Pfizer by 21.9% in the second quarter. Financial Management Professionals Inc. now owns 5,517 shares of the biopharmaceutical company’s stock valued at $193,000 after buying an additional 993 shares in the last quarter. Institutional investors own 69.66% of the company’s stock.
Shares of Pfizer Inc. (NYSE:PFE) traded down 0.305% during midday trading on Wednesday, reaching $33.029. 4,825,363 shares of the company traded hands. Pfizer Inc. has a 12-month low of $28.25 and a 12-month high of $37.39. The company has a 50-day moving average of $34.20 and a 200 day moving average of $34.27. The firm has a market capitalization of $200.34 billion, a PE ratio of 29.281 and a beta of 0.86.
Pfizer (NYSE:PFE) last issued its quarterly earnings data on Tuesday, August 2nd. The biopharmaceutical company reported $0.64 earnings per share (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 business earned $13.10 billion during the quarter, compared to the consensus estimate of $13.01 billion. During the same period in the prior year, the firm posted $0.56 EPS. The firm’s quarterly revenue was up 10.9% compared to the same quarter last year. On average, equities analysts forecast that Pfizer Inc. will post $2.46 earnings per share for the current year.
The company 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 $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 3.62%. The ex-dividend date is Tuesday, November 8th. Pfizer’s payout ratio is 95.24%.
Several research analysts have issued reports on PFE shares. Jefferies Group set a $41.50 price objective on Pfizer and gave the stock a “buy” rating in a report on Thursday, July 14th. Vetr raised Pfizer from a “hold” rating to a “buy” rating and set a $38.08 price objective on the stock in a report on Tuesday, August 2nd. JPMorgan Chase & Co. set a $40.00 price objective on Pfizer and gave the stock a “buy” rating in a report on Wednesday, August 3rd. Argus reaffirmed a “buy” rating and set a $39.00 price objective on shares of Pfizer in a report on Tuesday, October 4th. Finally, Credit Suisse Group AG reaffirmed an “outperform” rating and set a $40.00 price objective on shares of Pfizer in a report on Monday, August 22nd. Ten research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $38.78.
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.