Envestnet Asset Management Inc. Raises Stock Holdings in Pfizer Inc. (NYSE:PFE)

Envestnet Asset Management Inc. increased its position in Pfizer Inc. (NYSE:PFE) by 2.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,260,067 shares of the biopharmaceutical company’s stock after purchasing an additional 238,850 shares during the period. Envestnet Asset Management Inc. owned 0.18% of Pfizer worth $287,077,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cantor Fitzgerald Investment Advisors L.P. purchased a new stake in Pfizer in the fourth quarter worth $16,166,000. LGT Group Foundation grew its stake in Pfizer by 2.5% in the second quarter. LGT Group Foundation now owns 742,875 shares of the biopharmaceutical company’s stock worth $20,786,000 after purchasing an additional 18,274 shares during the period. First Heartland Consultants Inc. grew its stake in shares of Pfizer by 43.3% in the fourth quarter. First Heartland Consultants Inc. now owns 13,013 shares of the biopharmaceutical company’s stock worth $375,000 after acquiring an additional 3,933 shares during the last quarter. ORG Partners LLC grew its stake in shares of Pfizer by 1,729.9% in the second quarter. ORG Partners LLC now owns 47,028 shares of the biopharmaceutical company’s stock worth $1,327,000 after acquiring an additional 44,458 shares during the last quarter. Finally, Kempner Capital Management Inc. purchased a new stake in shares of Pfizer in the first quarter worth $2,439,000. 68.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Wells Fargo & Company increased their target price on Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 31st. UBS Group increased their target price on Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Daiwa Capital Markets raised Pfizer from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $28.00 to $34.00 in a research note on Wednesday, August 7th. StockNews.com raised Pfizer from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Finally, Daiwa America raised Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. Eight analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $34.54.

Pfizer Stock Up 0.4 %

Shares of PFE stock opened at $29.27 on Friday. The stock’s fifty day moving average price is $29.21 and its 200 day moving average price is $28.12. Pfizer Inc. has a 1-year low of $25.20 and a 1-year high of $34.42. The company has a market cap of $165.86 billion, a price-to-earnings ratio of -487.75, a price-to-earnings-growth ratio of 1.04 and a beta of 0.68. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.86 and a quick ratio of 0.60.

Pfizer (NYSE:PFE) last posted its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.46 by $0.14. Pfizer had a negative net margin of 4.66% and a positive return on equity of 8.42%. The business had revenue of $13.28 billion during the quarter, compared to the consensus estimate of $12.96 billion. During the same period in the previous year, the firm posted $0.67 earnings per share. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. On average, research analysts expect that Pfizer Inc. will post 2.66 earnings per share for the current fiscal year.

Pfizer Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, July 26th were given a dividend of $0.42 per share. The ex-dividend date was Friday, July 26th. This represents a $1.68 dividend on an annualized basis and a yield of 5.74%. Pfizer’s dividend payout ratio is presently -2,799.53%.

Pfizer 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.