Westchester Capital Management Inc. Has $7.30 Million Holdings in Pfizer Inc. (PFE)

Westchester Capital Management Inc. raised its position in Pfizer Inc. (NYSE:PFE) by 2.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 204,558 shares of the biopharmaceutical company’s stock after buying an additional 4,289 shares during the period. Pfizer makes up about 3.1% of Westchester Capital Management Inc.’s holdings, making the stock its 23rd biggest holding. Westchester Capital Management Inc.’s holdings in Pfizer were worth $7,303,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Insight 2811 Inc. raised its stake in shares of Pfizer by 8.9% in the 3rd quarter. Insight 2811 Inc. now owns 36,207 shares of the biopharmaceutical company’s stock valued at $1,293,000 after purchasing an additional 2,972 shares in the last quarter. Calamos Advisors LLC raised its stake in shares of Pfizer by 1.4% in the 3rd quarter. Calamos Advisors LLC now owns 2,029,800 shares of the biopharmaceutical company’s stock valued at $72,464,000 after purchasing an additional 27,800 shares in the last quarter. Calamos Wealth Management LLC raised its stake in shares of Pfizer by 1.4% in the 3rd quarter. Calamos Wealth Management LLC now owns 114,409 shares of the biopharmaceutical company’s stock valued at $4,084,000 after purchasing an additional 1,560 shares in the last quarter. Rehmann Capital Advisory Group raised its stake in shares of Pfizer by 2.3% in the 3rd quarter. Rehmann Capital Advisory Group now owns 114,164 shares of the biopharmaceutical company’s stock valued at $4,076,000 after purchasing an additional 2,555 shares in the last quarter. Finally, Heartland Advisors Inc. raised its stake in shares of Pfizer by 32.1% in the 3rd quarter. Heartland Advisors Inc. now owns 294,685 shares of the biopharmaceutical company’s stock valued at $10,520,000 after purchasing an additional 71,547 shares in the last quarter. 69.75% of the stock is owned by institutional investors.

In other Pfizer news, insider Alexander R. Mackenzie sold 6,750 shares of the firm’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $37.00, for a total value of $249,750.00. Following the sale, the insider now owns 103,458 shares in the company, valued at $3,827,946. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Alexander R. Mackenzie sold 14,700 shares of the firm’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $35.30, for a total transaction of $518,910.00. Following the completion of the sale, the insider now owns 117,432 shares in the company, valued at approximately $4,145,349.60. The disclosure for this sale can be found here. Insiders sold 29,450 shares of company stock worth $1,065,220 in the last 90 days. 0.06% of the stock is owned by company insiders.

A number of equities research analysts have recently issued reports on the stock. ValuEngine upgraded shares of Pfizer from a “hold” rating to a “buy” rating in a research note on Friday, October 6th. JPMorgan Chase & Co. set a $39.00 target price on shares of Pfizer and gave the company a “buy” rating in a research note on Wednesday, November 1st. Jefferies Group set a $39.00 target price on shares of Pfizer and gave the company a “neutral” rating in a research note on Thursday, November 16th. Nord/LB restated a “neutral” rating on shares of Pfizer in a research note on Tuesday. Finally, Berenberg Bank set a $36.00 price objective on shares of Pfizer and gave the stock a “neutral” rating in a research note on Tuesday, October 31st. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $38.77.

Shares of Pfizer Inc. (NYSE:PFE) opened at $36.22 on Tuesday. The firm has a market cap of $215,896.81, a PE ratio of 22.36, a P/E/G ratio of 2.56 and a beta of 1.01. Pfizer Inc. has a 12 month low of $30.90 and a 12 month high of $37.35. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.15 and a current ratio of 1.43.

Pfizer (NYSE:PFE) last released its quarterly earnings data on Tuesday, October 31st. The biopharmaceutical company reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.02. Pfizer had a net margin of 18.69% and a return on equity of 25.41%. The firm had revenue of $13.17 billion for the quarter, compared to analyst estimates of $13.17 billion. During the same quarter in the prior year, the business earned $0.61 earnings per share. Pfizer’s quarterly revenue was up .9% on a year-over-year basis. analysts expect that Pfizer Inc. will post 2.59 EPS for the current year.

Pfizer announced that its Board of Directors has approved a stock repurchase plan on Monday, December 18th that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the biopharmaceutical company to reacquire shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Friday, February 2nd will be paid a $0.34 dividend. The ex-dividend date is Thursday, February 1st. This represents a $1.36 annualized dividend and a dividend yield of 3.75%. This is a positive change from Pfizer’s previous quarterly dividend of $0.32. Pfizer’s dividend payout ratio (DPR) is presently 79.01%.

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Pfizer Company Profile

Pfizer Inc (Pfizer) is a research-based global biopharmaceutical company. The Company is engaged in the discovery, development and manufacture of healthcare products. Its global portfolio includes medicines and vaccines, as well as consumer healthcare products. The Company manages its commercial operations through two business segments: Pfizer Innovative Health (IH) and Pfizer Essential Health (EH).

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Institutional Ownership by Quarter for Pfizer (NYSE:PFE)

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