Envestnet Asset Management Inc. Acquires 1,231,296 Shares of Pfizer Inc. (NYSE:PFE)

Envestnet Asset Management Inc. grew its stake in shares of Pfizer Inc. (NYSE:PFE - Free Report) by 13.4% in the first quarter, according to its most recent filing with the SEC. The fund owned 10,402,113 shares of the biopharmaceutical company's stock after acquiring an additional 1,231,296 shares during the period. Envestnet Asset Management Inc. owned about 0.18% of Pfizer worth $263,590,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Brighton Jones LLC lifted its holdings in shares of Pfizer by 1,282.4% in the fourth quarter. Brighton Jones LLC now owns 666,318 shares of the biopharmaceutical company's stock valued at $17,677,000 after purchasing an additional 618,117 shares in the last quarter. Revolve Wealth Partners LLC lifted its holdings in shares of Pfizer by 12.5% in the fourth quarter. Revolve Wealth Partners LLC now owns 18,766 shares of the biopharmaceutical company's stock valued at $498,000 after purchasing an additional 2,087 shares in the last quarter. Inceptionr LLC purchased a new stake in shares of Pfizer in the fourth quarter valued at $229,000. Callan Family Office LLC purchased a new stake in shares of Pfizer in the fourth quarter valued at $595,000. Finally, Rialto Wealth Management LLC purchased a new stake in shares of Pfizer in the fourth quarter valued at $26,000. Institutional investors and hedge funds own 68.36% of the company's stock.

Pfizer Stock Performance

Shares of NYSE:PFE traded down $0.32 during midday trading on Friday, hitting $25.47. The company's stock had a trading volume of 5,902,298 shares, compared to its average volume of 41,704,223. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.96 and a current ratio of 1.26. The stock's 50 day simple moving average is $23.86 and its 200 day simple moving average is $24.81. Pfizer Inc. has a fifty-two week low of $20.92 and a fifty-two week high of $31.54. The stock has a market capitalization of $144.78 billion, a price-to-earnings ratio of 18.45, a PEG ratio of 0.93 and a beta of 0.58.

Pfizer (NYSE:PFE - Get Free Report) last released its earnings results on Tuesday, April 29th. The biopharmaceutical company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.25. Pfizer had a net margin of 12.62% and a return on equity of 20.33%. The business had revenue of $13.72 billion during the quarter, compared to analysts' expectations of $14.43 billion. During the same quarter last year, the company earned $0.82 earnings per share. The firm's revenue was down 7.8% on a year-over-year basis. As a group, research analysts anticipate that Pfizer Inc. will post 2.95 earnings per share for the current year.

Pfizer Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Friday, July 25th will be paid a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 6.75%. The ex-dividend date is Friday, July 25th. Pfizer's payout ratio is presently 124.64%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on PFE. Bank of America upped their price target on shares of Pfizer from $26.00 to $27.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 30th. Guggenheim reaffirmed a "buy" rating on shares of Pfizer in a research note on Tuesday, March 18th. Redburn Atlantic dropped their price target on shares of Pfizer from $29.00 to $27.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 30th. TD Cowen dropped their price target on shares of Pfizer from $32.00 to $28.00 and set a "hold" rating on the stock in a research note on Tuesday, April 22nd. Finally, Citigroup upped their price target on shares of Pfizer from $23.00 to $25.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 30th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, six have given a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $28.55.

About Pfizer

Pfizer Inc discovers, develops, manufactures, markets, distributes, and sells biopharmaceutical products in the United States, Europe, and internationally. The company offers medicines and vaccines in various therapeutic areas, including cardiovascular metabolic, migraine, and women's health under the Eliquis, Nurtec ODT/Vydura, Zavzpret, and the Premarin family brands; infectious diseases with unmet medical needs under the Prevnar family, Abrysvo, Nimenrix, FSME/IMMUN-TicoVac, and Trumenba brands; and COVID-19 prevention and treatment, and potential future mRNA and antiviral products under the Comirnaty and Paxlovid brands.