California State Teachers Retirement System lowered its stake in shares of Pfizer Inc. (NYSE:PFE) by 7.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,510,202 shares of the biopharmaceutical company’s stock after selling 797,709 shares during the period. Pfizer accounts for 0.8% of California State Teachers Retirement System’s investment portfolio, making the stock its 16th biggest holding. California State Teachers Retirement System’s holdings in Pfizer were worth $375,214,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently modified their holdings of PFE. Shine Investment Advisory Services Inc. purchased a new stake in shares of Pfizer during the 2nd quarter worth approximately $102,000. Mckinley Capital Management LLC Delaware purchased a new stake in shares of Pfizer during the 2nd quarter worth approximately $103,000. Herndon Capital Management LLC purchased a new stake in shares of Pfizer during the 2nd quarter worth approximately $120,000. Private Vista LLC increased its stake in shares of Pfizer by 2,277.3% during the 2nd quarter. Private Vista LLC now owns 199,317 shares of the biopharmaceutical company’s stock worth $133,000 after purchasing an additional 190,933 shares during the last quarter. Finally, Lipe & Dalton increased its stake in shares of Pfizer by 6.9% during the 2nd quarter. Lipe & Dalton now owns 4,626 shares of the biopharmaceutical company’s stock worth $155,000 after purchasing an additional 300 shares during the last quarter. Institutional investors own 70.12% of the company’s stock.
Pfizer Inc. (NYSE:PFE) opened at $36.26 on Tuesday. The company has a quick ratio of 1.15, a current ratio of 1.43 and a debt-to-equity ratio of 0.56. Pfizer Inc. has a fifty-two week low of $31.67 and a fifty-two week high of $39.43. The company has a market cap of $216,140.00, a price-to-earnings ratio of 10.30, a price-to-earnings-growth ratio of 2.05 and a beta of 0.94.
Pfizer declared that its Board of Directors has approved a stock buyback plan on Monday, December 18th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the biopharmaceutical company to repurchase shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors 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 issued a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 3.75%. This is an increase from Pfizer’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Thursday, February 1st. Pfizer’s dividend payout ratio (DPR) is presently 38.64%.
In other Pfizer news, insider Alexander R. Mackenzie sold 6,750 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider now directly owns 103,458 shares of the company’s stock, valued at approximately $3,827,946. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Rady A. Johnson sold 8,000 shares of the firm’s stock in a transaction on Friday, December 15th. The shares were sold at an average price of $37.07, for a total transaction of $296,560.00. Following the completion of the transaction, the executive vice president now directly owns 46,963 shares of the company’s stock, valued at $1,740,918.41. The disclosure for this sale can be found here. 0.06% of the stock is owned by company insiders.
Several brokerages have recently issued reports on PFE. BMO Capital Markets set a $39.00 price target on shares of Pfizer and gave the stock a “buy” rating in a research note on Tuesday, January 30th. SunTrust Banks restated a “hold” rating and set a $40.00 price target (up previously from $33.00) on shares of Pfizer in a research note on Monday, January 29th. Morgan Stanley raised their price target on shares of Pfizer from $41.00 to $43.00 and gave the stock a “buy” rating in a research note on Wednesday, January 31st. UBS Group set a $42.00 price objective on shares of Pfizer and gave the company a “buy” rating in a research note on Wednesday, January 31st. Finally, Societe Generale set a $40.00 price objective on shares of Pfizer and gave the company a “neutral” rating in a research note on Wednesday, January 31st. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and eleven have assigned a buy rating to the company. Pfizer currently has a consensus rating of “Hold” and a consensus price target of $39.45.
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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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