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Pfizer Inc (PFE) Lures Institutional Investors in Hordes

Pfizer NYSE:PFE

Pfizer Inc.  stock continues to attract hordes of institutional investors, if the heightened purchasing activity witnessed recently is anything to go by. EQIS Capital Management raised its position in Pfizer by 350.9% in the fourth quarter, its latest Form 13F filed with Securities and Exchange Commission (SEC) showed. The wealth management firm added 24,569 PFE shares into its portfolio to bring the total number of its Pfizer stock to 31,570 shares, with a combined value of $1,019,000.

Prizer NYSE:PFE

Other institutional investors and hedge funds also changed their positions in Pfizer in the fourth quarter. Detwiler Fenton Investment Management raised its position in the biopharmaceutical company by purchasing 13,715 shares worth about $443,000. Pfizer now totals 2.3% of Detwiler Fenton’s investment portfolio. Beacon Financial Group increased its stake in Pfizer’s shares by 5.7% after purchasing an additional 907 shares. This brings its total stock ownership in PFE to 16,779 shares valued at $549,000. Terra Nova Asset Management also bought an additional 340 shares of Pfizer’s stock in the last quarter. It now has 17,587 PFE shares valued at $552,000.

Market Capitalization Hits $191.36 Billion

Pfizer Inc.  was trading 1.27 percent lower in midday trade on Friday to reach $31.00. Its stock trading volume stood at 33,055,316 shares. The company’s 1-year low is $28.47 while its 1-year high is $36.46. Its 50-day moving average price stood at $32.35 while its 200-day moving average price is $33.43. Market cap stood at $191.36 billion while P/E ratio is 23.27. $0.09.

The biopharmaceutical company last released its quarterly earnings results on October 27th. Earnings per share stood at $0.60 for the quarter, exceeding analysts’ average estimate of $0.51 by $0.09. The company had posted an EPS of $0.57 in the same quarter a year earlier. Earnings stood at $12.10 billion in the quarter, topping analysts’ expectation of $11.56 billion. However, revenue for the quarter dropped 2.2 percent compared with results posted in a similar period the previous year. The company is expected to post an EPS of $2.18 in the current financial year.

More Firms Join the Frenzy

Other wealth management firms that have adjusted their position in Pfizer Inc’s  stock include Jennison Associates, which increased its position in PFE stock by 108.2% during the third quarter. The firm acquired an additional 4,963,367 shares to increase its stock ownership of the biopharmaceutical firm’s stock to 9,550,121 shares valued at $299,969,000. Janus Capital Management adjusted its position by 35.2% in the third quarter after buying 3,012,704 more shares, raising the number of PFE stock it owns to 11,561,514 shares worth $363,157,000.

Eagle Asset Management also grew its position in Pfizer’s stock by 100.3% after acquiring 3,791,218 shares in the third quarter. This saw its total PFE stock jump to 7,570,014 shares valued at $237,774,000. J. Goldman & Company increased the number of Pfizer stock to 460,000 shares worth $14,449,000 after acquiring an extra 409,000 shares in the third quarter, an increase of 802.0%. Lastly, Centre Asset Management adjusted its position in Pfizer stock by 678.2% after it acquired an additional 192,200 PFE shares. It now holds 220,540 shares in the biopharmaceutical company valued at $7,119,000.

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