Pfizer Inc. (NYSE:PFE) Holdings Raised by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS lifted its stake in Pfizer Inc. (NYSE:PFE) by 2.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,168,315 shares of the biopharmaceutical company’s stock after acquiring an additional 27,562 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Pfizer were worth $33,811,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Olistico Wealth LLC acquired a new stake in shares of Pfizer in the 2nd quarter valued at $25,000. MFA Wealth Advisors LLC bought a new stake in shares of Pfizer during the 2nd quarter worth about $29,000. Quarry LP acquired a new position in shares of Pfizer during the 2nd quarter valued at about $31,000. Financial Connections Group Inc. bought a new position in shares of Pfizer in the 2nd quarter valued at approximately $34,000. Finally, ESL Trust Services LLC acquired a new stake in Pfizer in the 1st quarter worth approximately $37,000. Institutional investors and hedge funds own 68.36% of the company’s stock.

Wall Street Analysts Forecast Growth

PFE has been the topic of a number of recent analyst reports. StockNews.com raised shares of Pfizer from a “hold” rating to a “buy” rating in a research report on Wednesday, October 9th. Daiwa Capital Markets upgraded Pfizer from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $28.00 to $34.00 in a research note on Wednesday, August 7th. Wells Fargo & Company upped their price target on Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 31st. Citigroup initiated coverage on Pfizer in a report on Friday, October 25th. They set a “neutral” rating and a $30.00 price objective for the company. Finally, Daiwa America raised shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Eight analysts have rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $33.58.

Insider Activity

In related news, Director Scott Gottlieb acquired 1,000 shares of the business’s stock in a transaction on Wednesday, October 30th. The stock was purchased at an average cost of $28.24 per share, for a total transaction of $28,240.00. Following the completion of the transaction, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $282,400. The trade was a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.06% of the company’s stock.

Pfizer Stock Up 0.3 %

Shares of NYSE PFE traded up $0.09 during trading hours on Thursday, hitting $27.45. The company had a trading volume of 6,249,160 shares, compared to its average volume of 37,294,738. The stock has a market capitalization of $155.55 billion, a P/E ratio of 36.96, a price-to-earnings-growth ratio of 0.88 and a beta of 0.67. Pfizer Inc. has a 1-year low of $25.20 and a 1-year high of $31.54. The firm’s 50 day moving average is $28.96 and its 200-day moving average is $28.64. The company has a quick ratio of 0.60, a current ratio of 0.86 and a debt-to-equity ratio of 0.65.

Pfizer (NYSE:PFE) last issued its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.42. Pfizer had a net margin of 7.07% and a return on equity of 16.40%. The company had revenue of $17.70 billion for the quarter, compared to analysts’ expectations of $14.92 billion. During the same period in the prior year, the firm earned ($0.17) EPS. Pfizer’s quarterly revenue was up 31.2% compared to the same quarter last year. On average, analysts expect that Pfizer Inc. will post 2.96 earnings per share for the current fiscal year.

Pfizer Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be issued a $0.42 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.68 annualized dividend and a dividend yield of 6.12%. Pfizer’s dividend payout ratio is currently 227.03%.

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.