The Private Asset Management Inc. cuts position of Pfizer Inc. (PFE)

The Private Asset Management Inc. cuts position of Pfizer Inc. (PFE)

Private Asset Management Inc. lowered its stake in Pfizer Inc. (NYSE:PFE) by 0.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 547,456 shares of the biopharmaceutical company’s stock after selling 1,534 shares during the period. Pfizer makes up approximately 3.1% of Private Asset Management Inc.’s investment portfolio, making the stock its 4th largest position. Private Asset Management Inc.’s holdings in Pfizer were worth $18,542,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Telemus Capital LLC increased its position in Pfizer by 5.9% in the third quarter. Telemus Capital LLC now owns 26,411 shares of the biopharmaceutical company’s stock valued at $895,000 after buying an additional 1,460 shares in the last quarter. Summit Financial Wealth Advisors LLC increased its position in Pfizer by 31.9% in the third quarter. Summit Financial Wealth Advisors LLC now owns 62,656 shares of the biopharmaceutical company’s stock worth $2,122,000 after buying an additional 15,141 shares during the period. LifePlan Financial Group Inc increased its position in Pfizer by 2.4% in the third quarter. LifePlan Financial Group Inc now owns 13,125 shares of the biopharmaceutical company’s stock worth $445,000 after buying an additional 311 shares during the period. New England Research & Management Inc. increased its position in Pfizer by 33.2% in the third quarter. New England Research & Management Inc. now owns 59,067 shares of the biopharmaceutical company’s stock worth $2,001,000 after buying an additional 14,717 shares during the period. Finally, First American Trust FSB increased its position in Pfizer by 0.7% in the third quarter. First American Trust FSB now owns 189,440 shares of the biopharmaceutical company’s stock worth $6,416,000 after buying an additional 1,331 shares during the period. 69.48% of the stock is currently owned by hedge funds and other institutional investors.

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

Pfizer (NYSE:PFE) last announced its quarterly earnings data on Tuesday, November 1st. The biopharmaceutical company reported $0.61 earnings per share for the quarter, missing the consensus estimate of $0.62 by $0.01. The company had revenue of $13.05 billion for the quarter, compared to analyst estimates of $13.05 billion. Pfizer had a net margin of 13.09% and a return on equity of 23.68%. Pfizer’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.60 EPS. Equities research analysts predict that Pfizer Inc. will post $2.41 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Friday, November 11th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 3.79%. The ex-dividend date is Tuesday, November 8th. Pfizer’s payout ratio is presently 106.20%.

A number of research analysts have recently weighed in on the company. Argus reissued a “buy” rating and issued a $39.00 price target on shares of Pfizer in a research note on Sunday, August 28th. Sanford C. Bernstein set a $36.00 price target on Pfizer and gave the company a “buy” rating in a research note on Tuesday, November 1st. Jefferies Group set a $34.00 price target on Pfizer and gave the company a “neutral” rating in a research note on Friday, November 11th. BMO Capital Markets downgraded Pfizer from an “outperform” rating to a “market perform” rating and cut their price target for the company from $40.00 to $33.00 in a research note on Wednesday, November 2nd. Finally, Barclays PLC reissued an “equal weight” rating and issued a $34.00 price target on shares of Pfizer in a research note on Tuesday, August 2nd. Thirteen research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $37.73.

In other news, insider Anthony J. Maddaluna sold 10,000 shares of the business’s stock in a transaction dated Wednesday, November 9th. The shares were sold at an average price of $33.00, for a total transaction of $330,000.00. Following the completion of the sale, the insider now directly owns 112,087 shares of the company’s stock, valued at $3,698,871. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Albert Bourla sold 18,390 shares of the business’s stock in a transaction dated Friday, November 4th. The stock was sold at an average price of $30.05, for a total transaction of $552,619.50. Following the sale, the insider now directly owns 149,199 shares of the company’s stock, valued at $4,483,429.95. The disclosure for this sale can be found here. Insiders own 0.07% of the company’s stock.

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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