Smead Capital Management Inc. Reduces Position in Pfizer Inc. (PFE)
Smead Capital Management Inc. cut its holdings in Pfizer Inc. (NYSE:PFE) by 1.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,786,423 shares of the biopharmaceutical company’s stock after selling 32,298 shares during the quarter. Pfizer comprises about 3.1% of Smead Capital Management Inc.’s investment portfolio, making the stock its 17th biggest holding. Smead Capital Management Inc.’s holdings in Pfizer were worth $64,811,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Wendell David Associates Inc. grew its stake in shares of Pfizer by 2.4% in the 2nd quarter. Wendell David Associates Inc. now owns 57,613 shares of the biopharmaceutical company’s stock valued at $2,090,000 after buying an additional 1,363 shares in the last quarter. Mechanics Bank Trust Department boosted its position in Pfizer by 0.6% during the second quarter. Mechanics Bank Trust Department now owns 232,404 shares of the biopharmaceutical company’s stock worth $8,431,000 after purchasing an additional 1,423 shares during the period. Chesley Taft & Associates LLC boosted its position in Pfizer by 0.7% during the second quarter. Chesley Taft & Associates LLC now owns 221,682 shares of the biopharmaceutical company’s stock worth $8,043,000 after purchasing an additional 1,432 shares during the period. Gamco Investors INC. ET AL boosted its position in Pfizer by 0.4% during the first quarter. Gamco Investors INC. ET AL now owns 387,501 shares of the biopharmaceutical company’s stock worth $13,752,000 after purchasing an additional 1,470 shares during the period. Finally, Quadrant Private Wealth Management LLC boosted its position in Pfizer by 6.5% during the first quarter. Quadrant Private Wealth Management LLC now owns 24,376 shares of the biopharmaceutical company’s stock worth $865,000 after purchasing an additional 1,494 shares during the period. Hedge funds and other institutional investors own 68.95% of the company’s stock.
In related news, insider Laurie J. Olson sold 10,214 shares of Pfizer stock in a transaction that occurred on Monday, August 13th. The stock was sold at an average price of $41.00, for a total value of $418,774.00. Following the sale, the insider now owns 72,672 shares of the company’s stock, valued at approximately $2,979,552. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Sally Susman sold 40,381 shares of Pfizer stock in a transaction that occurred on Friday, July 20th. The shares were sold at an average price of $37.22, for a total value of $1,502,980.82. Following the completion of the sale, the insider now directly owns 155,377 shares in the company, valued at approximately $5,783,131.94. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 761,230 shares of company stock worth $29,054,690. 0.06% of the stock is currently owned by insiders.
Pfizer stock traded up $0.97 during mid-day trading on Friday, hitting $43.78. The stock had a trading volume of 28,490,527 shares, compared to its average volume of 21,858,029. The stock has a market cap of $262.34 billion, a price-to-earnings ratio of 16.52, a P/E/G ratio of 2.23 and a beta of 0.96. Pfizer Inc. has a 12 month low of $33.20 and a 12 month high of $45.81. The company has a quick ratio of 0.91, a current ratio of 1.16 and a debt-to-equity ratio of 0.41.
Pfizer (NYSE:PFE) last released its earnings results on Tuesday, July 31st. The biopharmaceutical company reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.07. Pfizer had a return on equity of 25.35% and a net margin of 42.35%. The firm had revenue of $13.47 billion for the quarter, compared to analyst estimates of $13.30 billion. During the same quarter in the prior year, the firm posted $0.67 earnings per share. The company’s quarterly revenue was up 4.4% on a year-over-year basis. As a group, sell-side analysts expect that Pfizer Inc. will post 2.99 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 3rd. Stockholders of record on Friday, November 9th will be given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date of this dividend is Thursday, November 8th. Pfizer’s dividend payout ratio is currently 51.32%.
Pfizer Inc discovers, develops, manufactures, and sells healthcare products worldwide. It operates in two segments, Pfizer Innovative Health (IH) and Pfizer Essential Health (EH). The IH segment focuses on the development and commercialization of medicines and vaccines, and consumer healthcare products in various therapeutic areas, including internal medicine, vaccines, oncology, inflammation and immunology, and rare diseases, as well as consumer healthcare, such as over-the-counter brands comprising dietary supplements, pain management, gastrointestinal, and respiratory and personal care.
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