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

Envestnet Asset Management Inc. increased its position in Pfizer Inc. (NYSE:PFE - Free Report) by 13.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,402,113 shares of the biopharmaceutical company's stock after purchasing an additional 1,231,296 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.18% of Pfizer worth $263,590,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the business. Hexagon Capital Partners LLC boosted its holdings in Pfizer by 4.3% during the first quarter. Hexagon Capital Partners LLC now owns 55,730 shares of the biopharmaceutical company's stock valued at $1,412,000 after purchasing an additional 2,307 shares in the last quarter. Investor s Fiduciary Advisor Network LLC raised its stake in shares of Pfizer by 16.5% in the first quarter. Investor s Fiduciary Advisor Network LLC now owns 29,207 shares of the biopharmaceutical company's stock worth $740,000 after acquiring an additional 4,141 shares during the last quarter. Tradewinds LLC. lifted its holdings in Pfizer by 21.8% during the 1st quarter. Tradewinds LLC. now owns 11,423 shares of the biopharmaceutical company's stock worth $289,000 after buying an additional 2,046 shares in the last quarter. Meridian Investment Counsel Inc. boosted its holdings in Pfizer by 7.2% in the first quarter. Meridian Investment Counsel Inc. now owns 69,874 shares of the biopharmaceutical company's stock valued at $1,771,000 after acquiring an additional 4,717 shares during the last quarter. Finally, McGlone Suttner Wealth Management Inc. increased its position in Pfizer by 63.6% in the first quarter. McGlone Suttner Wealth Management Inc. now owns 20,023 shares of the biopharmaceutical company's stock worth $507,000 after purchasing an additional 7,784 shares during the period. 68.36% of the stock is currently owned by institutional investors and hedge funds.

Pfizer Stock Performance

Shares of NYSE PFE traded down $0.06 during mid-day trading on Wednesday, reaching $25.56. 38,339,365 shares of the company were exchanged, compared to its average volume of 41,804,116. Pfizer Inc. has a twelve month low of $20.92 and a twelve month high of $31.54. The stock has a market capitalization of $145.32 billion, a P/E ratio of 18.52, a P/E/G ratio of 0.93 and a beta of 0.58. The company's 50-day simple moving average is $23.80 and its 200-day simple moving average is $24.81. The company has a quick ratio of 0.96, a current ratio of 1.26 and a debt-to-equity ratio of 0.64.

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

Pfizer Announces Dividend

The firm also recently declared 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. The ex-dividend date is Friday, July 25th. This represents a $1.72 annualized dividend and a dividend yield of 6.73%. Pfizer's dividend payout ratio (DPR) is presently 124.64%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on PFE shares. Wolfe Research lifted their price target on shares of Pfizer from $22.00 to $23.00 and gave the stock an "underperform" rating in a research report on Wednesday, April 30th. BMO Capital Markets decreased their price objective on Pfizer from $36.00 to $30.00 in a research report on Thursday, April 17th. The Goldman Sachs Group lifted their price target on Pfizer from $25.00 to $27.00 and gave the company a "neutral" rating in a research note on Wednesday, April 30th. Bank of America increased their price objective on Pfizer from $26.00 to $27.00 and gave the stock a "neutral" rating in a report on Wednesday, April 30th. Finally, Redburn Atlantic cut their target price on Pfizer from $29.00 to $27.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 30th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, six have assigned a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, Pfizer has a consensus rating of "Hold" and an average target price of $28.55.

Pfizer Company Profile

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.