Envestnet Portfolio Solutions Inc. Trims Stake in Pfizer Inc. (NYSE:PFE)

Envestnet Portfolio Solutions Inc. reduced its position in shares of Pfizer Inc. (NYSE:PFE - Free Report) by 42.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 347,143 shares of the biopharmaceutical company's stock after selling 253,223 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Pfizer were worth $8,797,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. Lipe & Dalton boosted its stake in shares of Pfizer by 17.7% during the 4th quarter. Lipe & Dalton now owns 2,659 shares of the biopharmaceutical company's stock worth $71,000 after purchasing an additional 400 shares during the period. Beam Wealth Advisors Inc. lifted its holdings in Pfizer by 1.5% during the 4th quarter. Beam Wealth Advisors Inc. now owns 27,444 shares of the biopharmaceutical company's stock valued at $728,000 after buying an additional 401 shares in the last quarter. Providence Capital Advisors LLC lifted its holdings in Pfizer by 0.4% during the 4th quarter. Providence Capital Advisors LLC now owns 114,358 shares of the biopharmaceutical company's stock valued at $3,034,000 after buying an additional 409 shares in the last quarter. Donaldson Capital Management LLC lifted its holdings in Pfizer by 1.2% during the 4th quarter. Donaldson Capital Management LLC now owns 35,694 shares of the biopharmaceutical company's stock valued at $947,000 after buying an additional 410 shares in the last quarter. Finally, Noesis Capital Mangement Corp lifted its holdings in Pfizer by 2.6% during the 4th quarter. Noesis Capital Mangement Corp now owns 16,357 shares of the biopharmaceutical company's stock valued at $434,000 after buying an additional 413 shares in the last quarter. 68.36% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PFE has been the subject of a number of research analyst reports. UBS Group lifted their price objective on shares of Pfizer from $24.00 to $25.00 and gave the company a "neutral" rating in a report on Wednesday, April 30th. Guggenheim reiterated a "buy" rating on shares of Pfizer in a report on Tuesday, March 18th. Cantor Fitzgerald initiated coverage on shares of Pfizer in a report on Tuesday, April 22nd. They set a "neutral" rating and a $24.00 price objective for the company. The Goldman Sachs Group reiterated a "neutral" rating and set a $25.00 price objective (down previously from $32.00) on shares of Pfizer in a report on Tuesday, April 8th. Finally, Citigroup reissued a "neutral" rating on shares of Pfizer in a research report on Thursday, March 27th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, four have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $29.17.

Pfizer Stock Down 0.5%

Shares of Pfizer stock opened at $23.88 on Friday. The firm's 50 day moving average price is $23.22 and its 200-day moving average price is $24.91. 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 Inc. has a 52-week low of $20.92 and a 52-week high of $31.54. The company has a market cap of $135.74 billion, a P/E ratio of 17.30, a PEG ratio of 0.87 and a beta of 0.57.

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. Pfizer had a net margin of 12.62% and a return on equity of 20.33%. The firm had revenue of $13.72 billion for the quarter, compared to the consensus estimate of $14.43 billion. During the same quarter in the previous year, the firm earned $0.82 EPS. The company's quarterly revenue was down 7.8% compared to the same quarter last year. On average, sell-side analysts predict that Pfizer Inc. will post 2.95 EPS for the current fiscal year.

Pfizer Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 9th were given a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 7.20%. The ex-dividend date was Friday, May 9th. Pfizer's payout ratio is currently 124.64%.

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.

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