Todays Report: Today, McQueen Ball & Associates Inc. cuts its investment of stake in Pfizer Inc. (PFE)

Today, McQueen Ball & Associates Inc. cuts its investment of stake in Pfizer Inc. (PFE)

McQueen Ball & Associates Inc. cut its stake in Pfizer Inc. (NYSE:PFE) by 0.9% during the third quarter, Holdings Channel reports. The fund owned 57,889 shares of the biopharmaceutical company’s stock after selling 508 shares during the period. Pfizer makes up about 1.3% of McQueen Ball & Associates Inc.’s holdings, making the stock its 22nd largest position. McQueen Ball & Associates Inc.’s holdings in Pfizer were worth $1,961,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Seaward Management Limited Partnership boosted its stake in shares of Pfizer by 5.7% in the second quarter. Seaward Management Limited Partnership now owns 908,421 shares of the biopharmaceutical company’s stock valued at $31,985,000 after buying an additional 48,827 shares during the last quarter. Bloom Tree Partners LLC bought a new stake in shares of Pfizer during the first quarter valued at approximately $35,682,000. State of Alaska Department of Revenue boosted its stake in shares of Pfizer by 11.3% in the second quarter. State of Alaska Department of Revenue now owns 371,887 shares of the biopharmaceutical company’s stock valued at $13,093,000 after buying an additional 37,647 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in shares of Pfizer by 2.8% in the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 955,618 shares of the biopharmaceutical company’s stock valued at $33,647,000 after buying an additional 25,855 shares during the last quarter. Finally, Charter Trust Co. boosted its stake in shares of Pfizer by 4.3% in the second quarter. Charter Trust Co. now owns 377,918 shares of the biopharmaceutical company’s stock valued at $13,306,000 after buying an additional 15,510 shares during the last quarter. Institutional investors and hedge funds own 69.48% of the company’s stock.

Pfizer Inc. (NYSE:PFE) traded up 0.86% on Friday, hitting $31.69. 10,452,948 shares of the company’s stock were exchanged. The company’s 50-day moving average price is $32.01 and its 200-day moving average price is $34.15. Pfizer Inc. has a 12-month low of $28.25 and a 12-month high of $37.39. The company has a market cap of $192.31 billion, a PE ratio of 31.82 and a beta of 0.90.

Pfizer (NYSE:PFE) last released its quarterly earnings results on Tuesday, November 1st. The biopharmaceutical company reported $0.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by $0.01. The company earned $13.05 billion during the quarter, compared to analysts’ expectations of $13.05 billion. Pfizer had a net margin of 13.09% and a return on equity of 23.68%. Pfizer’s revenue was up 7.9% on a year-over-year basis. During the same period last year, the firm posted $0.60 earnings per share. Analysts forecast that Pfizer Inc. will post $2.41 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Friday, November 11th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.79%. The ex-dividend date is Tuesday, November 8th. Pfizer’s dividend payout ratio (DPR) is 106.20%.

PFE has been the topic of several research analyst reports. Piper Jaffray Cos. set a $54.00 price target on shares of Pfizer and gave the stock a “buy” rating in a research note on Tuesday, August 23rd. Jefferies Group decreased their target price on shares of Pfizer from $40.00 to $39.00 and set a “buy” rating on the stock in a research report on Tuesday, September 13th. Bank of America Corp. set a $40.00 target price on shares of Pfizer and gave the company a “buy” rating in a research report on Monday, August 22nd. Credit Suisse Group AG restated an “outperform” rating and set a $40.00 target price on shares of Pfizer in a research report on Monday, August 22nd. Finally, Vetr cut shares of Pfizer from a “strong-buy” rating to a “buy” rating and set a $36.36 target price on the stock. in a research report on Thursday, October 13th. Thirteen investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company. Pfizer has an average rating of “Buy” and an average price target of $37.73.

In related news, insider Anthony J. Maddaluna sold 10,000 shares of Pfizer stock in a transaction that occurred on Wednesday, November 9th. The shares were sold at an average price of $33.00, for a total value of $330,000.00. Following the completion of the transaction, the insider now owns 112,087 shares in the company, valued at $3,698,871. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Albert Bourla sold 18,390 shares of Pfizer stock in a transaction that occurred on Friday, November 4th. The shares were sold at an average price of $30.05, for a total transaction of $552,619.50. Following the completion of the transaction, the insider now owns 149,199 shares of the company’s stock, valued at approximately $4,483,429.95. The disclosure for this sale can be found here. 0.07% of the stock is currently owned by insiders.

About Pfizer

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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