Van ECK Associates Corp Increases Stake in Pfizer Inc. (NYSE:PFE)

Van ECK Associates Corp lifted its position in shares of Pfizer Inc. (NYSE:PFE) by 3.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,837,320 shares of the biopharmaceutical company’s stock after purchasing an additional 88,099 shares during the quarter. Van ECK Associates Corp’s holdings in Pfizer were worth $92,610,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. State Street Corp grew its position in Pfizer by 0.3% during the first quarter. State Street Corp now owns 292,621,398 shares of the biopharmaceutical company’s stock valued at $9,551,162,000 after buying an additional 830,299 shares during the period. Capital World Investors increased its stake in shares of Pfizer by 13.4% in the 4th quarter. Capital World Investors now owns 188,715,390 shares of the biopharmaceutical company’s stock valued at $7,393,867,000 after purchasing an additional 22,232,056 shares in the last quarter. Geode Capital Management LLC raised its holdings in Pfizer by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 89,043,762 shares of the biopharmaceutical company’s stock worth $3,482,382,000 after purchasing an additional 1,630,039 shares during the period. Bank of New York Mellon Corp boosted its position in Pfizer by 4.9% during the fourth quarter. Bank of New York Mellon Corp now owns 59,763,050 shares of the biopharmaceutical company’s stock worth $2,341,517,000 after purchasing an additional 2,783,991 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Pfizer during the 4th quarter worth about $2,326,225,000. Hedge funds and other institutional investors own 70.28% of the company’s stock.

A number of brokerages have recently issued reports on PFE. Zacks Investment Research lowered Pfizer from a “buy” rating to a “hold” rating and set a $40.00 price target on the stock. in a research note on Monday, May 4th. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $53.00 target price on shares of Pfizer in a research note on Thursday, March 19th. Mizuho reissued a “buy” rating and set a $42.00 price target on shares of Pfizer in a research report on Monday, May 18th. Morgan Stanley cut their price objective on shares of Pfizer from $43.00 to $36.00 and set an “equal weight” rating for the company in a research report on Thursday, April 2nd. Finally, Royal Bank of Canada reaffirmed a “buy” rating and set a $44.00 target price on shares of Pfizer in a research note on Monday, April 27th. Nine investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $41.28.

Shares of PFE stock traded down $3.25 on Monday, hitting $34.94. The stock had a trading volume of 33,696,648 shares, compared to its average volume of 21,453,034. The firm has a market capitalization of $212.14 billion, a P/E ratio of 13.64, a P/E/G ratio of 2.79 and a beta of 0.70. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.02 and a quick ratio of 0.78. The company’s 50 day moving average price is $37.10 and its 200-day moving average price is $36.82. Pfizer Inc. has a 1 year low of $27.88 and a 1 year high of $44.56.

Pfizer (NYSE:PFE) last released its quarterly earnings data on Tuesday, April 28th. The biopharmaceutical company reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.09. The business had revenue of $12.03 billion for the quarter, compared to the consensus estimate of $11.38 billion. Pfizer had a return on equity of 25.76% and a net margin of 31.17%. The business’s revenue for the quarter was down 8.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.85 EPS. On average, equities analysts forecast that Pfizer Inc. will post 2.8 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 5th. Shareholders of record on Friday, May 8th will be issued a dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, May 7th. This represents a $1.52 dividend on an annualized basis and a yield of 4.35%. Pfizer’s payout ratio is currently 51.53%.

In related news, SVP Jennifer B. Damico sold 2,181 shares of the business’s stock in a transaction on Wednesday, April 29th. The shares were sold at an average price of $38.35, for a total value of $83,641.35. Following the completion of the sale, the senior vice president now directly owns 9,647 shares of the company’s stock, valued at $369,962.45. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Douglas M. Lankler sold 65,000 shares of the business’s stock in a transaction on Wednesday, April 29th. The shares were sold at an average price of $37.85, for a total transaction of $2,460,250.00. Following the completion of the sale, the executive vice president now directly owns 135,375 shares of the company’s stock, valued at $5,123,943.75. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by insiders.

Pfizer Company Profile

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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