Today: Davidson & Garrard Inc. Boosts Stake in Pfizer Inc. (PFE)

Today: Davidson & Garrard Inc. Boosts Stake in Pfizer Inc. (PFE)

Davidson & Garrard Inc. boosted its stake in Pfizer Inc. (NYSE:PFE) by 3.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 163,026 shares of the biopharmaceutical company’s stock after buying an additional 4,857 shares during the period. Pfizer accounts for 1.4% of Davidson & Garrard Inc.’s investment portfolio, making the stock its 20th largest position. Davidson & Garrard Inc.’s holdings in Pfizer were worth $5,740,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Emerald Acquisition Ltd. acquired a new stake in shares of Pfizer during the second quarter worth $555,074,000. Franklin Resources Inc. raised its stake in shares of 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 during the period. NN Investment Partners Holdings N.V. acquired a new stake in shares of Pfizer during the first quarter worth $242,144,000. First Manhattan Co. raised its stake 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. Finally, Jana Partners LLC raised its stake 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. 69.66% of the stock is owned by hedge funds and other institutional investors.

Pfizer Inc. (NYSE:PFE) traded up 0.015% during mid-day trading on Monday, reaching $32.665. The company had a trading volume of 3,238,473 shares. Pfizer Inc. has a 12-month low of $28.25 and a 12-month high of $37.39. The company has a market capitalization of $198.13 billion, a price-to-earnings ratio of 28.958 and a beta of 0.86. The stock has a 50-day moving average of $34.02 and a 200 day moving average of $34.27.

Pfizer (NYSE:PFE) last issued its quarterly earnings results on Tuesday, August 2nd. The biopharmaceutical company reported $0.64 EPS for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.02. The company earned $13.10 billion during the quarter, compared to the consensus estimate of $13.01 billion. Pfizer had a return on equity of 23.37% and a net margin of 14.88%. Pfizer’s revenue was up 10.9% on a year-over-year basis. During the same period last year, the business posted $0.56 earnings per share. On average, analysts expect that Pfizer Inc. will post $2.46 EPS for the current year.

The company also recently announced 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 3.67%. The ex-dividend date of this dividend is Tuesday, November 8th. Pfizer’s dividend payout ratio is currently 95.24%.

A number of analysts have recently weighed in on PFE shares. Vetr upgraded Pfizer from a “buy” rating to a “strong-buy” rating and set a $37.94 target price for the company in a research note on Monday, June 27th. Deutsche Bank AG reiterated a “buy” rating and issued a $44.00 price target on shares of Pfizer in a report on Thursday, August 18th. Credit Suisse Group AG reiterated an “outperform” rating and issued a $40.00 price target on shares of Pfizer in a report on Monday, August 22nd. Piper Jaffray Cos. set a $54.00 price target on Pfizer and gave the company a “buy” rating in a report on Tuesday, August 23rd. Finally, Jefferies Group set a $41.50 price target on Pfizer and gave the company a “buy” rating in a report on Thursday, July 14th. Eleven research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Pfizer currently has a consensus rating of “Buy” and an average target price 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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