Gateway Investment Advisers LLC Decreases Stake in Pfizer, Inc. (PFE)

Gateway Investment Advisers LLC lowered its stake in Pfizer, Inc. (NYSE:PFE) by 2.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,241,569 shares of the biopharmaceutical company’s stock after selling 72,702 shares during the period. Pfizer comprises approximately 1.0% of Gateway Investment Advisers LLC’s investment portfolio, making the stock its 20th largest position. Gateway Investment Advisers LLC’s holdings in Pfizer were worth $110,894,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently made changes to their positions in PFE. Harbor Advisors LLC purchased a new stake in shares of Pfizer during the fourth quarter valued at $616,000. First Interstate Bank raised its position in Pfizer by 25.7% in the fourth quarter. First Interstate Bank now owns 38,154 shares of the biopharmaceutical company’s stock valued at $1,239,000 after buying an additional 7,789 shares during the last quarter. Essex Financial Services Inc. raised its position in Pfizer by 4.9% in the fourth quarter. Essex Financial Services Inc. now owns 367,681 shares of the biopharmaceutical company’s stock valued at $11,942,000 after buying an additional 17,190 shares during the last quarter. Smith Salley & Associates raised its position in Pfizer by 2.0% in the fourth quarter. Smith Salley & Associates now owns 106,838 shares of the biopharmaceutical company’s stock valued at $3,469,000 after buying an additional 2,075 shares during the last quarter. Finally, Ffcm LLC bought a new position in Pfizer during the fourth quarter valued at about $10,608,000. 70.80% of the stock is owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for Pfizer (NYSE:PFE)

Pfizer, Inc. (NYSE PFE) opened at 34.17 on Friday. The firm has a market cap of $203.92 billion, a P/E ratio of 28.76 and a beta of 1.02. Pfizer, Inc. has a 52-week low of $29.83 and a 52-week high of $37.39. The firm’s 50-day moving average price is $32.70 and its 200-day moving average price is $33.07.

Pfizer (NYSE:PFE) last announced its quarterly earnings data on Tuesday, May 2nd. The biopharmaceutical company reported $0.69 EPS for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.02. Pfizer had a return on equity of 23.68% and a net margin of 13.76%. The firm had revenue of $12.78 billion during the quarter, compared to analysts’ expectations of $13.09 billion. During the same quarter last year, the firm posted $0.67 earnings per share. The company’s revenue for the quarter was down 1.7% compared to the same quarter last year. Equities research analysts expect that Pfizer, Inc. will post $2.55 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 4th will be paid a $0.32 dividend. The ex-dividend date is Wednesday, August 2nd. This represents a $1.28 dividend on an annualized basis and a yield of 3.75%. Pfizer’s dividend payout ratio (DPR) is presently 108.48%.

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PFE has been the subject of several analyst reports. Vetr lowered Pfizer from a “hold” rating to a “sell” rating and set a $33.45 target price for the company. in a research report on Thursday, March 2nd. Jefferies Group LLC set a $34.00 target price on Pfizer and gave the stock a “neutral” rating in a research report on Thursday, March 9th. Credit Suisse Group set a $38.00 target price on Pfizer and gave the stock a “buy” rating in a research report on Monday, March 13th. Sanford C. Bernstein set a $35.00 target price on Pfizer and gave the stock a “buy” rating in a research report on Monday, March 13th. Finally, Barclays PLC set a $38.00 target price on Pfizer and gave the stock a “buy” rating in a research report on Thursday, March 16th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and nine have assigned a buy rating to the company’s stock. Pfizer presently has an average rating of “Hold” and an average price target of $37.32.

About Pfizer

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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