Envestnet Portfolio Solutions Inc. Raises Position in Pfizer Inc. (NYSE:PFE)

Envestnet Portfolio Solutions Inc. increased its position in Pfizer Inc. (NYSE:PFE) by 3.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 575,334 shares of the biopharmaceutical company’s stock after purchasing an additional 21,167 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Pfizer were worth $16,098,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. Cascade Investment Group Inc. boosted its stake in Pfizer by 5.9% during the 2nd quarter. Cascade Investment Group Inc. now owns 30,777 shares of the biopharmaceutical company’s stock valued at $861,000 after acquiring an additional 1,704 shares during the last quarter. ORG Partners LLC lifted its holdings in Pfizer by 1,729.9% during the 2nd quarter. ORG Partners LLC now owns 47,028 shares of the biopharmaceutical company’s stock worth $1,327,000 after buying an additional 44,458 shares during the last quarter. Farmers Trust Co. raised its position in shares of Pfizer by 0.8% during the 2nd quarter. Farmers Trust Co. now owns 233,324 shares of the biopharmaceutical company’s stock valued at $6,528,000 after acquiring an additional 1,850 shares in the last quarter. Riverview Trust Co lifted its stake in Pfizer by 24.4% during the second quarter. Riverview Trust Co now owns 21,741 shares of the biopharmaceutical company’s stock worth $608,000 after purchasing an additional 4,265 shares during the last quarter. Finally, Bill Few Associates Inc. boosted its holdings in Pfizer by 1.5% in the second quarter. Bill Few Associates Inc. now owns 83,832 shares of the biopharmaceutical company’s stock worth $2,346,000 after purchasing an additional 1,224 shares during the period. 68.36% of the stock is owned by institutional investors and hedge funds.

Pfizer Price Performance

Shares of Pfizer stock traded down $0.21 on Thursday, hitting $28.67. The company had a trading volume of 11,811,733 shares, compared to its average volume of 39,393,301. Pfizer Inc. has a 52 week low of $25.20 and a 52 week high of $37.19. The company has a market cap of $162.46 billion, a PE ratio of -477.42, a PEG ratio of 0.99 and a beta of 0.69. The business has a 50-day simple moving average of $28.75 and a 200-day simple moving average of $27.88. 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 earnings per share for the quarter, beating 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 company had revenue of $13.28 billion during the quarter, compared to analyst estimates of $12.96 billion. During the same quarter last year, the firm posted $0.67 EPS. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. Research analysts expect that Pfizer Inc. will post 2.68 EPS for the current fiscal year.

Pfizer Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Friday, July 26th will be paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 5.86%. The ex-dividend date of this dividend is Friday, July 26th. Pfizer’s dividend payout ratio is presently -2,799.53%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on PFE shares. Morgan Stanley boosted their price objective on shares of Pfizer from $28.00 to $29.00 and gave the company an “equal weight” rating in a research report on Thursday, May 2nd. Wells Fargo & Company increased their price target on Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 31st. Barclays boosted their price objective on Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 31st. StockNews.com upgraded Pfizer from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Finally, UBS Group increased their price objective on shares of Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Eight investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $34.54.

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.