Prio Wealth Limited Partnership cut its position in shares of Pfizer Inc. (NYSE:PFE) by 63.0% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 376,964 shares of the biopharmaceutical company’s stock after selling 641,020 shares during the quarter. Prio Wealth Limited Partnership’s holdings in Pfizer were worth $16,330,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently modified their holdings of the stock. Viridian Ria LLC grew its position in Pfizer by 0.9% during the fourth quarter. Viridian Ria LLC now owns 30,859 shares of the biopharmaceutical company’s stock valued at $1,327,000 after acquiring an additional 280 shares during the period. M Holdings Securities Inc. grew its position in Pfizer by 27.9% during the first quarter. M Holdings Securities Inc. now owns 39,851 shares of the biopharmaceutical company’s stock valued at $1,692,000 after acquiring an additional 8,693 shares during the period. Annex Advisory Services LLC grew its position in Pfizer by 0.7% during the second quarter. Annex Advisory Services LLC now owns 51,785 shares of the biopharmaceutical company’s stock valued at $2,243,000 after acquiring an additional 382 shares during the period. Princeton Global Asset Management LLC grew its position in Pfizer by 14.7% during the first quarter. Princeton Global Asset Management LLC now owns 26,736 shares of the biopharmaceutical company’s stock valued at $1,135,000 after acquiring an additional 3,429 shares during the period. Finally, GYL Financial Synergies LLC grew its position in Pfizer by 105.3% during the first quarter. GYL Financial Synergies LLC now owns 22,987 shares of the biopharmaceutical company’s stock valued at $976,000 after acquiring an additional 11,788 shares during the period. 71.82% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE PFE traded down $0.25 on Friday, hitting $38.00. The company had a trading volume of 27,652,919 shares, compared to its average volume of 25,745,708. Pfizer Inc. has a 12-month low of $37.68 and a 12-month high of $46.47. The company has a 50 day moving average price of $42.85. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.54 and a quick ratio of 1.27. The firm has a market cap of $215.95 billion, a price-to-earnings ratio of 12.67, a P/E/G ratio of 3.08 and a beta of 0.63.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Friday, August 2nd will be paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 3.79%. The ex-dividend date of this dividend is Thursday, August 1st. Pfizer’s dividend payout ratio (DPR) is 48.00%.
In other Pfizer news, major shareholder Pfizer Inc purchased 50,000 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The shares were acquired at an average price of $17.00 per share, for a total transaction of $850,000.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Frank A. Damelio sold 153,184 shares of the business’s stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $44.09, for a total value of $6,753,882.56. Following the completion of the transaction, the executive vice president now owns 489,647 shares in the company, valued at approximately $21,588,536.23. The disclosure for this sale can be found here. Insiders own 0.09% of the company’s stock.
A number of research firms have issued reports on PFE. Morgan Stanley downgraded Pfizer from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $48.00 to $40.00 in a research report on Tuesday. Bank of America downgraded Pfizer from a “buy” rating to a “neutral” rating in a research report on Tuesday. Credit Suisse Group started coverage on Pfizer in a research report on Monday, July 15th. They issued a “hold” rating and a $47.00 target price for the company. Barclays reaffirmed a “hold” rating and issued a $41.00 target price on shares of Pfizer in a research report on Thursday, May 9th. Finally, Goldman Sachs Group reaffirmed a “buy” rating and issued a $49.00 target price on shares of Pfizer in a research report on Monday, June 17th. Fifteen investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $46.44.
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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