Northstar Asset Management LLC trimmed its position in shares of Pfizer Inc. (NYSE:PFE) by 6.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 26,322 shares of the biopharmaceutical company’s stock after selling 1,802 shares during the period. Northstar Asset Management LLC’s holdings in Pfizer were worth $1,160,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Fort L.P. purchased a new position in shares of Pfizer during the 2nd quarter valued at about $121,000. Selective Wealth Management bought a new position in Pfizer during the 3rd quarter worth approximately $155,000. Smart Portfolios LLC grew its position in Pfizer by 43.9% during the 2nd quarter. Smart Portfolios LLC now owns 3,935 shares of the biopharmaceutical company’s stock worth $143,000 after acquiring an additional 1,200 shares during the last quarter. Moody Aldrich Partners LLC bought a new position in Pfizer during the 2nd quarter worth approximately $154,045,000. Finally, Sterling Global Strategies LLC bought a new position in Pfizer during the 3rd quarter worth approximately $201,000. 70.61% of the stock is currently owned by institutional investors.
Shares of NYSE:PFE opened at $41.70 on Thursday. The firm has a market cap of $248.12 billion, a price-to-earnings ratio of 13.90, a P/E/G ratio of 2.42 and a beta of 0.77. Pfizer Inc. has a 12-month low of $34.32 and a 12-month high of $46.47. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.43 and a quick ratio of 1.15.
Pfizer announced that its Board of Directors has approved a stock buyback program on Friday, December 14th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the biopharmaceutical company to reacquire up to 3.8% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 1st. Stockholders of record on Friday, February 1st will be paid a $0.36 dividend. The ex-dividend date is Thursday, January 31st. This represents a $1.44 annualized dividend and a dividend yield of 3.45%. This is a boost from Pfizer’s previous quarterly dividend of $0.34. Pfizer’s payout ratio is currently 48.00%.
In related news, EVP Douglas M. Lankler sold 38,800 shares of Pfizer stock in a transaction on Wednesday, January 30th. The stock was sold at an average price of $41.19, for a total value of $1,598,172.00. Following the completion of the sale, the executive vice president now owns 83,592 shares of the company’s stock, valued at $3,443,154.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Douglas M. Lankler sold 5,000 shares of Pfizer stock in a transaction on Friday, February 1st. The stock was sold at an average price of $42.75, for a total value of $213,750.00. Following the completion of the sale, the executive vice president now directly owns 83,592 shares of the company’s stock, valued at approximately $3,573,558. The disclosure for this sale can be found here. 0.06% of the stock is owned by insiders.
PFE has been the topic of several recent research reports. Cantor Fitzgerald restated a “buy” rating and set a $53.00 price target on shares of Pfizer in a research report on Wednesday, October 17th. Barclays set a $40.00 price objective on Pfizer and gave the stock a “neutral” rating in a research report on Friday, October 19th. Wolfe Research assumed coverage on Pfizer in a research report on Tuesday, October 23rd. They issued a “market perform” rating on the stock. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Pfizer in a research report on Tuesday, October 30th. Finally, Goldman Sachs Group reiterated a “neutral” rating and issued a $45.00 price objective on shares of Pfizer in a research report on Tuesday, October 30th. Three investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and seven have assigned a buy rating to the company. Pfizer presently has an average rating of “Hold” and a consensus price target of $44.68.
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Pfizer Inc discovers, develops, manufactures, and sells healthcare products worldwide. It operates in two segments, Pfizer Innovative Health (IH) and Pfizer Essential Health (EH). The IH segment focuses on the development and commercialization of medicines and vaccines, and consumer healthcare products in various therapeutic areas, including internal medicine, vaccines, oncology, inflammation and immunology, and rare diseases, as well as consumer healthcare, such as over-the-counter brands comprising dietary supplements, pain management, gastrointestinal, and respiratory and personal care.
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