Wedge Capital Management L L P NC Buys 775,799 Shares of Pfizer Inc. (NYSE:PFE)

Wedge Capital Management L L P NC grew its stake in Pfizer Inc. (NYSE:PFE) by 9,513.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 783,954 shares of the biopharmaceutical company’s stock after acquiring an additional 775,799 shares during the period. Wedge Capital Management L L P NC’s holdings in Pfizer were worth $33,961,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in PFE. Willingdon Wealth Management grew its position in shares of Pfizer by 3.4% during the 2nd quarter. Willingdon Wealth Management now owns 163,149 shares of the biopharmaceutical company’s stock worth $7,068,000 after buying an additional 5,375 shares during the period. Tdam USA Inc. grew its position in shares of Pfizer by 1.8% during the 2nd quarter. Tdam USA Inc. now owns 699,097 shares of the biopharmaceutical company’s stock worth $30,285,000 after buying an additional 12,283 shares during the period. TD Asset Management Inc. grew its position in shares of Pfizer by 0.7% during the 2nd quarter. TD Asset Management Inc. now owns 9,316,310 shares of the biopharmaceutical company’s stock worth $403,583,000 after buying an additional 63,868 shares during the period. Keybank National Association OH grew its position in shares of Pfizer by 0.3% during the 2nd quarter. Keybank National Association OH now owns 4,406,399 shares of the biopharmaceutical company’s stock worth $190,885,000 after buying an additional 13,721 shares during the period. Finally, Westpac Banking Corp grew its position in shares of Pfizer by 12.9% during the 2nd quarter. Westpac Banking Corp now owns 1,033,791 shares of the biopharmaceutical company’s stock worth $44,784,000 after buying an additional 118,003 shares during the period. 71.81% of the stock is owned by institutional investors.

A number of research analysts recently issued reports on the stock. Morgan Stanley cut shares of Pfizer from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $48.00 to $40.00 in a report on Tuesday, July 30th. Bank of America cut shares of Pfizer from a “buy” rating to a “neutral” rating in a report on Tuesday, July 30th. Goldman Sachs Group restated a “buy” rating and set a $49.00 price objective on shares of Pfizer in a report on Monday, June 17th. UBS Group restated a “neutral” rating and set a $43.00 price objective on shares of Pfizer in a report on Monday, August 5th. Finally, JPMorgan Chase & Co. set a $46.00 price objective on shares of Pfizer and gave the company a “neutral” rating in a report on Monday, July 29th. Fourteen equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Pfizer presently has an average rating of “Hold” and a consensus price target of $46.56.

In other news, EVP Frank A. Damelio sold 153,184 shares of the company’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $44.09, for a total value of $6,753,882.56. Following the completion of the transaction, the executive vice president now owns 489,647 shares in the company, valued at $21,588,536.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Alexander R. Mackenzie sold 30,000 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $44.00, for a total transaction of $1,320,000.00. Following the completion of the transaction, the insider now owns 80,094 shares of the company’s stock, valued at approximately $3,524,136. The disclosure for this sale can be found here. 0.09% of the stock is owned by corporate insiders.

NYSE PFE traded up $0.17 during trading on Friday, reaching $34.65. 28,267,400 shares of the stock traded hands, compared to its average volume of 34,506,988. The firm has a market cap of $190.71 billion, a price-to-earnings ratio of 11.55, a price-to-earnings-growth ratio of 2.75 and a beta of 0.63. The stock’s 50-day moving average price is $40.84 and its 200 day moving average price is $41.69. The company has a quick ratio of 1.27, a current ratio of 1.47 and a debt-to-equity ratio of 0.60. Pfizer Inc. has a fifty-two week low of $33.97 and a fifty-two week high of $46.47.

Pfizer (NYSE:PFE) last issued its quarterly earnings data on Monday, July 29th. The biopharmaceutical company reported $0.80 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.75 by $0.05. The firm had revenue of $13.26 billion during the quarter, compared to analysts’ expectations of $13.43 billion. Pfizer had a net margin of 23.58% and a return on equity of 28.10%. The business’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.77 earnings per share. Analysts anticipate that Pfizer Inc. will post 2.8 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Friday, August 2nd will be issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 4.16%. The ex-dividend date is Thursday, August 1st. Pfizer’s dividend payout ratio (DPR) is presently 48.00%.

About Pfizer

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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