Envestnet Asset Management Inc. Boosts Stake in Pfizer Inc. $PFE

Envestnet Asset Management Inc. lifted its holdings in shares of Pfizer Inc. (NYSE:PFE) by 7.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 11,195,080 shares of the biopharmaceutical company’s stock after purchasing an additional 792,967 shares during the period. Envestnet Asset Management Inc. owned about 0.20% of Pfizer worth $271,368,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Pacer Advisors Inc. lifted its position in Pfizer by 856.8% during the 1st quarter. Pacer Advisors Inc. now owns 20,053,828 shares of the biopharmaceutical company’s stock valued at $508,164,000 after acquiring an additional 17,957,928 shares during the period. Amundi lifted its stake in shares of Pfizer by 43.4% in the first quarter. Amundi now owns 52,090,403 shares of the biopharmaceutical company’s stock worth $1,265,277,000 after buying an additional 15,758,846 shares in the last quarter. Nuveen LLC bought a new position in shares of Pfizer in the first quarter worth approximately $389,861,000. Goldman Sachs Group Inc. lifted its stake in shares of Pfizer by 51.9% in the first quarter. Goldman Sachs Group Inc. now owns 26,456,457 shares of the biopharmaceutical company’s stock worth $670,407,000 after buying an additional 9,041,990 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of Pfizer by 0.9% in the first quarter. Vanguard Group Inc. now owns 523,165,127 shares of the biopharmaceutical company’s stock worth $13,257,004,000 after buying an additional 4,629,976 shares in the last quarter. Institutional investors own 68.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on PFE. Bank of America increased their target price on Pfizer from $28.00 to $30.00 and gave the company a “neutral” rating in a research note on Friday, October 3rd. Morgan Stanley cut their target price on Pfizer from $33.00 to $32.00 and set an “equal weight” rating on the stock in a research note on Friday, October 10th. UBS Group reiterated a “neutral” rating and set a $28.00 target price on shares of Pfizer in a research note on Wednesday, October 1st. Weiss Ratings reissued a “hold (c-)” rating on shares of Pfizer in a report on Saturday. Finally, Citigroup boosted their price objective on shares of Pfizer from $25.00 to $26.00 and gave the company a “neutral” rating in a report on Wednesday, August 6th. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Pfizer presently has a consensus rating of “Hold” and a consensus target price of $28.13.

Pfizer Trading Up 0.5%

NYSE PFE opened at $24.79 on Monday. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.65. Pfizer Inc. has a 12 month low of $20.92 and a 12 month high of $29.17. The company’s 50-day moving average price is $24.87 and its 200-day moving average price is $24.20. The stock has a market cap of $140.92 billion, a PE ratio of 13.18, a PEG ratio of 0.82 and a beta of 0.55.

Pfizer (NYSE:PFE) last issued its earnings results on Tuesday, August 5th. The biopharmaceutical company reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.20. Pfizer had a net margin of 16.84% and a return on equity of 21.42%. The company had revenue of $14.65 billion for the quarter, compared to analysts’ expectations of $13.43 billion. During the same period in the prior year, the business earned $0.60 EPS. The firm’s quarterly revenue was up 10.3% on a year-over-year basis. Pfizer has set its FY 2025 guidance at 2.900-3.100 EPS. Equities research analysts forecast that Pfizer Inc. will post 2.95 earnings per share for the current year.

Pfizer Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Friday, November 7th will be issued a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 6.9%. The ex-dividend date is Friday, November 7th. Pfizer’s dividend payout ratio (DPR) is currently 91.49%.

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.