Prentiss Smith & Co. Inc. Cuts Position in Pfizer Inc. (NYSE:PFE)

Prentiss Smith & Co. Inc. lessened its holdings in shares of Pfizer Inc. (NYSE:PFE) by 4.0% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 12,110 shares of the biopharmaceutical company’s stock after selling 500 shares during the period. Prentiss Smith & Co. Inc.’s holdings in Pfizer were worth $529,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Argent Trust Co lifted its position in Pfizer by 493.9% in the second quarter. Argent Trust Co now owns 237,713 shares of the biopharmaceutical company’s stock worth $8,625,000 after purchasing an additional 197,684 shares during the period. Lake Street Advisors Group LLC lifted its position in Pfizer by 61.3% in the second quarter. Lake Street Advisors Group LLC now owns 69,946 shares of the biopharmaceutical company’s stock worth $2,538,000 after purchasing an additional 26,575 shares during the period. Glenmede Trust Co. NA lifted its position in Pfizer by 5.4% in the second quarter. Glenmede Trust Co. NA now owns 3,307,190 shares of the biopharmaceutical company’s stock worth $119,984,000 after purchasing an additional 168,129 shares during the period. Davy Asset Management Ltd acquired a new stake in Pfizer in the second quarter worth approximately $10,121,000. Finally, California Public Employees Retirement System lifted its position in Pfizer by 9.8% in the second quarter. California Public Employees Retirement System now owns 16,855,315 shares of the biopharmaceutical company’s stock worth $611,511,000 after purchasing an additional 1,502,877 shares during the period. 69.49% of the stock is owned by hedge funds and other institutional investors.

A number of research firms have weighed in on PFE. Credit Suisse Group set a $45.00 target price on Pfizer and gave the stock a “neutral” rating in a research report on Tuesday, January 1st. Cantor Fitzgerald set a $53.00 price objective on Pfizer and gave the company a “buy” rating in a research report on Sunday, December 30th. Zacks Investment Research upgraded Pfizer from a “sell” rating to a “hold” rating in a research report on Wednesday, April 3rd. Bank of America increased their price objective on Pfizer from $45.00 to $48.00 and gave the company a “buy” rating in a research report on Monday, April 1st. Finally, Citigroup reiterated a “neutral” rating and set a $41.00 price objective on shares of Pfizer in a research report on Wednesday, February 20th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and seven have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $45.61.

PFE stock opened at $39.97 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.57 and a quick ratio of 1.33. Pfizer Inc. has a 52-week low of $34.37 and a 52-week high of $46.47. The stock has a market cap of $234.57 billion, a price-to-earnings ratio of 13.32, a PEG ratio of 2.38 and a beta of 0.75.

Pfizer (NYSE:PFE) last released its quarterly earnings results on Tuesday, January 29th. The biopharmaceutical company reported $0.64 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.01. Pfizer had a net margin of 20.79% and a return on equity of 26.02%. The company had revenue of $13.98 billion during the quarter, compared to analysts’ expectations of $13.92 billion. During the same period in the prior year, the company earned $0.62 earnings per share. The business’s quarterly revenue was up 2.0% compared to the same quarter last year. As a group, equities analysts anticipate that Pfizer Inc. will post 2.86 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 10th will be paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 3.60%. The ex-dividend date is Thursday, May 9th. Pfizer’s payout ratio is presently 48.00%.

In other news, EVP Douglas M. Lankler sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, February 1st. The shares were sold at an average price of $42.75, for a total transaction of $213,750.00. Following the completion of the sale, the executive vice president now owns 83,592 shares of the company’s stock, valued at $3,573,558. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Alexander R. Mackenzie sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $42.83, for a total transaction of $642,450.00. Following the sale, the insider now directly owns 124,994 shares of the company’s stock, valued at approximately $5,353,493.02. The disclosure for this sale can be found here. In the last quarter, insiders sold 332,526 shares of company stock valued at $14,346,539. 0.09% of the stock is owned by corporate insiders.

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About Pfizer

Pfizer Inc discovers, develops, manufactures, and sells healthcare products worldwide. It offers medicines and vaccines in various therapeutic areas, including internal medicine, vaccines, oncology, inflammation and immunology, and rare diseases under the Lyrica, Chantix/Champix, Eliquis, Ibrance, Sutent, Xalkori, Inlyta, Xtandi, Enbrel, Xeljanz, Eucrisa, BeneFix, Genotropin, and Refacto AF/Xyntha brands.

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Institutional Ownership by Quarter for Pfizer (NYSE:PFE)

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