Welch Group LLC Lowers Holdings in Pfizer Inc. (NYSE:PFE)
Welch Group LLC decreased its holdings in Pfizer Inc. (NYSE:PFE) by 7.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 54,859 shares of the biopharmaceutical company’s stock after selling 4,247 shares during the quarter. Welch Group LLC’s holdings in Pfizer were worth $2,376,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of the business. Fisher Asset Management LLC grew its holdings in shares of Pfizer by 3.3% during the 4th quarter. Fisher Asset Management LLC now owns 41,830,709 shares of the biopharmaceutical company’s stock worth $1,825,910,000 after purchasing an additional 1,352,978 shares during the period. California Public Employees Retirement System grew its holdings in shares of Pfizer by 14.0% during the 4th quarter. California Public Employees Retirement System now owns 20,333,138 shares of the biopharmaceutical company’s stock worth $887,541,000 after purchasing an additional 2,504,336 shares during the period. APG Asset Management N.V. grew its holdings in shares of Pfizer by 1.4% during the 4th quarter. APG Asset Management N.V. now owns 16,360,380 shares of the biopharmaceutical company’s stock worth $624,704,000 after purchasing an additional 228,300 shares during the period. Rhumbline Advisers grew its holdings in shares of Pfizer by 1.2% during the 4th quarter. Rhumbline Advisers now owns 9,449,884 shares of the biopharmaceutical company’s stock worth $412,487,000 after purchasing an additional 113,506 shares during the period. Finally, TD Asset Management Inc. grew its holdings in shares of Pfizer by 1.5% during the 4th quarter. TD Asset Management Inc. now owns 8,723,552 shares of the biopharmaceutical company’s stock worth $380,783,000 after purchasing an additional 129,557 shares during the period. Institutional investors own 71.82% of the company’s stock.
Shares of PFE traded down $2.58 during trading on Tuesday, reaching $38.87. The company’s stock had a trading volume of 58,865,507 shares, compared to its average volume of 17,756,490. The business’s fifty day moving average price is $43.19. Pfizer Inc. has a twelve month low of $38.14 and a twelve month high of $46.47. The company has a market cap of $239.58 billion, a P/E ratio of 12.96, a price-to-earnings-growth ratio of 2.50 and a beta of 0.64. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.27 and a current ratio of 1.54.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Friday, August 2nd will be given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.70%. The ex-dividend date of this dividend is Thursday, August 1st. Pfizer’s payout ratio is 48.00%.
PFE has been the subject of a number of research reports. Zacks Investment Research upgraded Green Brick Partners from a “sell” rating to a “hold” rating in a report on Wednesday, April 10th. Bank of America upped their price target on Tc Pipelines from $64.00 to $66.00 and gave the stock a “buy” rating in a report on Tuesday. Credit Suisse Group set a $5.00 price target on Maxar Technologies and gave the stock a “sell” rating in a report on Monday, July 15th. Goldman Sachs Group upgraded Solaredge Technologies from a “sell” rating to a “neutral” rating and upped their price target for the stock from $35.00 to $52.00 in a report on Monday, June 17th. Finally, Barclays restated a “buy” rating on shares of Ultragenyx Pharmaceutical in a report on Thursday, May 9th. Sixteen research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $46.00.
In related news, EVP Frank A. Damelio sold 153,184 shares of the company’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $44.09, for a total transaction of $6,753,882.56. Following the sale, the executive vice president now directly owns 489,647 shares of the company’s stock, valued at approximately $21,588,536.23. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Pfizer Inc purchased 50,000 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The shares were purchased at an average cost of $17.00 per share, for a total transaction of $850,000.00. The disclosure for this purchase can be found here. Corporate insiders own 0.09% of the company’s stock.
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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