Envestnet Asset Management Inc. Sells 754,199 Shares of Pfizer Inc. (NYSE:PFE)

Envestnet Asset Management Inc. cut its stake in Pfizer Inc. (NYSE:PFE) by 7.6% in the fourth quarter, Holdings Channel.com reports. The firm owned 9,170,817 shares of the biopharmaceutical company’s stock after selling 754,199 shares during the period. Envestnet Asset Management Inc.’s holdings in Pfizer were worth $243,302,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently bought and sold shares of the company. United Bank boosted its holdings in Pfizer by 3.7% during the third quarter. United Bank now owns 35,599 shares of the biopharmaceutical company’s stock valued at $1,030,000 after purchasing an additional 1,277 shares in the last quarter. Janus Henderson Group PLC lifted its position in shares of Pfizer by 0.5% during the 3rd quarter. Janus Henderson Group PLC now owns 530,429 shares of the biopharmaceutical company’s stock worth $15,348,000 after buying an additional 2,600 shares during the period. Kovitz Investment Group Partners LLC boosted its stake in Pfizer by 35.4% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 366,690 shares of the biopharmaceutical company’s stock valued at $10,612,000 after buying an additional 95,896 shares in the last quarter. Hendershot Investments Inc. raised its stake in Pfizer by 12.7% during the third quarter. Hendershot Investments Inc. now owns 24,895 shares of the biopharmaceutical company’s stock worth $720,000 after acquiring an additional 2,798 shares in the last quarter. Finally, DF Dent & Co. Inc. boosted its stake in shares of Pfizer by 11.9% in the 3rd quarter. DF Dent & Co. Inc. now owns 45,708 shares of the biopharmaceutical company’s stock valued at $1,323,000 after purchasing an additional 4,852 shares in the last quarter. 68.36% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Ronald E. Blaylock purchased 19,457 shares of the business’s stock in a transaction that occurred on Thursday, February 13th. The shares were acquired at an average cost of $25.65 per share, for a total transaction of $499,072.05. Following the transaction, the director now directly owns 27,707 shares of the company’s stock, valued at approximately $710,684.55. The trade was a 235.84 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.06% of the company’s stock.

Pfizer Price Performance

Shares of PFE stock opened at $22.99 on Friday. The company has a quick ratio of 0.73, a current ratio of 1.00 and a debt-to-equity ratio of 0.63. Pfizer Inc. has a 12 month low of $22.95 and a 12 month high of $31.54. The firm has a market cap of $130.39 billion, a price-to-earnings ratio of 16.31, a PEG ratio of 0.64 and a beta of 0.67. The stock has a 50-day moving average price of $25.87 and a 200 day moving average price of $26.74.

Pfizer (NYSE:PFE) last posted its quarterly earnings results on Tuesday, February 4th. The biopharmaceutical company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.15. Pfizer had a return on equity of 19.47% and a net margin of 12.62%. The business had revenue of $17.76 billion for the quarter, compared to analyst estimates of $17.26 billion. During the same period last year, the company earned $0.10 EPS. The firm’s revenue was up 24.7% on a year-over-year basis. Research analysts expect that Pfizer Inc. will post 2.95 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on PFE shares. Truist Financial cut their price target on shares of Pfizer from $36.00 to $32.00 and set a “buy” rating for the company in a report on Wednesday, December 18th. UBS Group cut their target price on shares of Pfizer from $31.00 to $29.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. Bank of America restated a “neutral” rating and set a $29.00 price target on shares of Pfizer in a research report on Tuesday, December 10th. Citigroup reiterated a “neutral” rating on shares of Pfizer in a research report on Thursday, March 27th. Finally, Guggenheim restated a “buy” rating on shares of Pfizer in a report on Tuesday, March 18th. One analyst has rated the stock with a sell rating, seven have given a hold rating, six have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $31.92.

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.