In a recent disclosure with the Securities & Exchange Commission, it has been revealed that Churchill Management Corp, a notable institutional investor, has trimmed its stake in the biopharmaceutical giant Pfizer Inc. (NYSE: PFE) by a staggering 90.6% during the first quarter. This means that the company now owns only 33,472 shares of Pfizer, a significant drop from its previous stake of 355,692 shares.
This drastic change has resulted in a significant decrease in Churchill Management Corp’s holdings in Pfizer Inc., which now amount to $1,366,000 ($1.36 million). While some investors might find this reduction concerning, it’s important to keep in mind that such changes are not uncommon in the stock market and should be considered from a broader perspective.
Meanwhile, Pfizer has announced a quarterly dividend payment. The dividend is scheduled to be paid on Tuesday, September 5th. This dividend payment will be issued to stockholders of record on Friday, July 28th, and represents $0.41 per share -a substantial yield relative to many other stocks- equating to an annualized dividend payout ratio of $1.64 and 4.28%.
In addition, Director Scott Gottlieb has made a significant purchase of Pfizer stock. On May 8th of this year, Gottlieb acquired 1000 shares at an average price of $38.58 per share. Following this acquisition, he now owns a total of 6000 shares, valued at $231,480 million. This move indicates Gottlieb’s optimistic outlook on the company’s growth potential.
Zabih Ullah is a seasoned finance writer with more than ten years of experience. He is highly skilled at analyzing market trends, decoding economic data, and providing insightful commentary on various financial topics. Driven by his curiosity, Zabih stays updated with the latest developments in the finance industry, ensuring that his readers receive timely and relevant news and analysis.
