Private Asset Management Inc. trimmed its holdings in Teva Pharmaceutical Industries Ltd (NYSE:TEVA) by 65.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,100 shares of the company’s stock after selling 21,375 shares during the quarter. Private Asset Management Inc.’s holdings in Teva Pharmaceutical Industries were worth $210,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in TEVA. San Francisco Sentry Investment Group CA acquired a new position in shares of Teva Pharmaceutical Industries in the 2nd quarter valued at $106,000. Bronfman E.L. Rothschild L.P. increased its holdings in shares of Teva Pharmaceutical Industries by 2.6% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 3,711 shares of the company’s stock valued at $123,000 after acquiring an additional 94 shares during the period. Penserra Capital Management LLC acquired a new position in shares of Teva Pharmaceutical Industries in the 3rd quarter valued at $129,000. Fieldpoint Private Securities LLC acquired a new position in shares of Teva Pharmaceutical Industries in the 3rd quarter valued at $171,000. Finally, Fayez Sarofim & Co. acquired a new position in shares of Teva Pharmaceutical Industries in the 2nd quarter valued at $204,000. 51.98% of the stock is currently owned by institutional investors and hedge funds.
A number of equities analysts have recently commented on the stock. Wells Fargo & Co cut shares of Teva Pharmaceutical Industries from a “market perform” rating to an “underperform” rating and cut their target price for the company from $19.58 to $17.00 in a report on Friday. Citigroup raised shares of Teva Pharmaceutical Industries from a “neutral” rating to a “buy” rating and set a $24.00 target price on the stock in a report on Thursday. Cantor Fitzgerald set a $18.00 target price on shares of Teva Pharmaceutical Industries and gave the company a “hold” rating in a report on Wednesday. Leerink Swann initiated coverage on shares of Teva Pharmaceutical Industries in a report on Tuesday. They issued an “underperform” rating and a $15.00 target price on the stock. Finally, Zacks Investment Research upgraded shares of Teva Pharmaceutical Industries from a “strong sell” rating to a “hold” rating in a research report on Tuesday. Seven analysts have rated the stock with a sell rating, seventeen have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $21.16.
The business also recently announced a quarterly dividend, which was paid on Tuesday, December 12th. Shareholders of record on Tuesday, November 28th were given a dividend of $0.085 per share. The ex-dividend date of this dividend was Monday, November 27th. This represents a $0.34 annualized dividend and a dividend yield of 1.77%. Teva Pharmaceutical Industries’s payout ratio is currently -12.27%.
About Teva Pharmaceutical Industries
Teva Pharmaceutical Industries Limited is a pharmaceutical company. The Company is engaged in developing, producing and marketing generic medicines and a portfolio of specialty medicines. The Company operates through two segments: Generic medicines and Specialty medicines. The Company develops, manufactures and sells generic medicines in a range of dosage forms, including tablets, capsules, injectables, inhalants, liquids, ointments and creams.
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