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Published: Thu, August 03, 2017
Economy | By Melissa Porter

Pfizer, Inc. (PFE) to Issue Quarterly Dividend of $0.32 on September 1st

Pfizer, Inc. (PFE) to Issue Quarterly Dividend of $0.32 on September 1st

The company had a trading volume of 26,375,603 shares. Mastrapasqua Asset stated it has 0.14% of its portfolio in Pfizer Inc.

Other hedge funds and other institutional investors have also recently modified their holdings of the company.

As of August 1, 2017, Pfizer's remaining share repurchase authorization was approximately $6.4 billion. CA now owns 538,658 shares of the biopharmaceutical company's stock worth $18,093,000 after buying an additional 4,903 shares during the last quarter. Alpha Windward LLC increased its position in Pfizer by 1.1% in the first quarter. Peoples Financial Services CORP. raised its position in shares of Pfizer by 1.3% in the second quarter. Cable Hill Partners LLC now owns 4,664 shares of the biopharmaceutical company's stock valued at $160,000 after buying an additional 265 shares during the period. Jolley Asset Management LLC raised its stake in Pfizer by 1.8% in the second quarter. E&G Advisors LP now owns 62,258 shares of the biopharmaceutical company's stock worth $2,130,000 after buying an additional 3,940 shares during the period. Tdam USA Inc. boosted its position in shares of Pfizer by 0.9% in the second quarter. Alpha Windward LLC now owns 8,387 shares of the biopharmaceutical company's stock worth $287,000 after buying an additional 89 shares during the period. D Orazio & Associates Inc. raised its position in shares of Pfizer by 0.5% in the fourth quarter.

Lord Abbett & Company, which manages about $32.94B US Long portfolio, decreased its stake in Ulta Salon Cosmetcs & Frag I Com (NASDAQ:ULTA) by 59,225 shares to 82,060 shares, valued at $20.92M in 2016Q4, according to the filing. The stock's 50 day moving average is $33.36 and its 200-day moving average is $33.24. The company has a market cap of $195.48 billion, a price-to-earnings ratio of 27.572 and a beta of 1.01. Pfizer also was the recipient of some unusual options trading on Monday. Investors bought 13,338 call options on the company. The biopharmaceutical company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.02. The company had revenue of $12.90 billion for the quarter, compared to the consensus estimate of $13.08 billion.

At the end of the first quarter, Pfizer had about $23 billion in cash available, most of that overseas. Pfizer's revenue was down 1.7% compared to the same quarter previous year. The company now expects earnings of $2.54 to $2.60 per share, compared with prior guidance of $2.50 to $2.60 per share. On average, analysts anticipate that Pfizer, Inc. will post $2.55 EPS for the current year. Shareholders of record on Friday, August 4th will be paid a dividend of 0.32 per share by the biopharmaceutical company on Friday, September 1st. This represents a $1.28 annualized dividend and a dividend yield of 3.87%. Pfizer's dividend payout ratio is 108.48%.

Jarislowsky Fraser Ltd lowered its stake in Pfizer, Inc. (NYSE:PFE) earned "Neutral" rating by Societe Generale on Friday, March 24. If you are accessing this report on another site, it was stolen and reposted in violation of U.S. and global trademark & copyright law. The legal version of this piece can be viewed at https://www.themarketsdaily.com/2017/08/02/spirit-of-america-management-corp-ny-has-568000-position-in-pfizer-inc-pfe.html. Adjusted income of 67 cents per share beat analysts' average estimate by two cents. Morgan Stanley reaffirmed a "neutral" rating and issued a $38.00 target price on shares of Pfizer in a research report on Thursday, April 6th. BidaskClub cut Pfizer from a "sell" rating to a "strong sell" rating in a report on Thursday, July 13th. BMO Capital Markets reiterated a "hold" rating and set a $33.00 target price on shares of Pfizer in a research report on Thursday, April 27th. Finally, Sanford C. Bernstein reissued a "buy" rating and issued a $35.00 price target on shares of Pfizer in a report on Monday, April 24th.

Among 20 analysts covering Pfizer (NYSE:PFE), 6 have Buy rating, 1 Sell and 13 Hold. The stock has an average rating of "Hold" and an average price target of $37.68.

Chief executive Ian Read said the company's research programs have the potential for 25 to 30 drug approvals, including up to 15 potential "blockbuster" drugs.

Pfizer's second-quarter performance underscores the company's shifting reliance on newer drugs like breast-cancer treatment Ibrance, as older products like the antidepressant Pristiq, male-impotence pill Viagra and Lyrica pain remedy face or will face generic competition.

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