OLD National Bancorp IN decreased its holdings in Pfizer Inc. (NYSE:PFE) by 21.8% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 292,945 shares of the biopharmaceutical company’s stock after selling 81,831 shares during the quarter. OLD National Bancorp IN’s holdings in Pfizer were worth $10,458,000 as of its most recent filing with the SEC.
Several other hedge funds have also made changes to their positions in PFE. Vicus Capital increased its position in shares of Pfizer by 35.1% during the 3rd quarter. Vicus Capital now owns 18,378 shares of the biopharmaceutical company’s stock worth $656,000 after purchasing an additional 4,772 shares in the last quarter. Crossmark Global Holdings Inc. acquired a new stake in shares of Pfizer during the 3rd quarter worth about $13,386,000. Parkside Financial Bank & Trust increased its position in shares of Pfizer by 5.8% during the 3rd quarter. Parkside Financial Bank & Trust now owns 39,144 shares of the biopharmaceutical company’s stock worth $1,398,000 after purchasing an additional 2,159 shares in the last quarter. Hudock Capital Group LLC increased its position in shares of Pfizer by 4.5% during the 3rd quarter. Hudock Capital Group LLC now owns 82,272 shares of the biopharmaceutical company’s stock worth $2,937,000 after purchasing an additional 3,510 shares in the last quarter. Finally, Callahan Advisors LLC increased its position in shares of Pfizer by 2.6% during the 3rd quarter. Callahan Advisors LLC now owns 289,776 shares of the biopharmaceutical company’s stock worth $10,345,000 after purchasing an additional 7,240 shares in the last quarter. Institutional investors own 69.75% of the company’s stock.
A number of equities research analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Pfizer from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a research report on Tuesday, October 3rd. Vetr cut shares of Pfizer from a “buy” rating to a “hold” rating and set a $35.71 target price for the company. in a research report on Wednesday, September 13th. BMO Capital Markets set a $39.00 target price on shares of Pfizer and gave the stock a “buy” rating in a research report on Tuesday, October 31st. Sanford C. Bernstein set a $39.00 target price on shares of Pfizer and gave the stock a “buy” rating in a research report on Tuesday, September 19th. Finally, Deutsche Bank set a $38.00 target price on shares of Pfizer and gave the stock a “buy” rating in a research report on Wednesday, December 6th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the company. The company has an average rating of “Buy” and an average price target of $38.77.
Pfizer (NYSE:PFE) last posted its quarterly earnings data on Tuesday, October 31st. The biopharmaceutical company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.02. The firm had revenue of $13.17 billion during the quarter, compared to analysts’ expectations of $13.17 billion. Pfizer had a net margin of 18.69% and a return on equity of 25.41%. The company’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter last year, the company posted $0.61 EPS. equities research analysts forecast that Pfizer Inc. will post 2.59 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Friday, February 2nd will be given a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 3.70%. The ex-dividend date is Thursday, February 1st. This is a boost from Pfizer’s previous quarterly dividend of $0.32. Pfizer’s dividend payout ratio (DPR) is presently 78.53%.
Pfizer declared that its Board of Directors has initiated a stock repurchase plan on Monday, December 18th that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the biopharmaceutical company to buy shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.
In other news, EVP Rady A. Johnson sold 8,000 shares of the firm’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $37.07, for a total value of $296,560.00. Following the transaction, the executive vice president now owns 46,963 shares of the company’s stock, valued at approximately $1,740,918.41. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Alexander R. Mackenzie sold 14,700 shares of the firm’s stock in a transaction dated 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 transaction, the insider now directly 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 a total of 29,450 shares of company stock valued at $1,065,220 in the last 90 days. Corporate insiders own 0.06% of the company’s stock.
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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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