Kornitzer Capital Management Inc. KS Buys 76,349 Shares of Pfizer Inc. (NYSE:PFE)

Kornitzer Capital Management Inc. KS boosted its stake in Pfizer Inc. (NYSE:PFE - Free Report) by 6.3% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,286,358 shares of the biopharmaceutical company's stock after purchasing an additional 76,349 shares during the quarter. Kornitzer Capital Management Inc. KS's holdings in Pfizer were worth $32,596,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of PFE. Concord Asset Management LLC VA raised its position in shares of Pfizer by 265.1% in the 1st quarter. Concord Asset Management LLC VA now owns 48,232 shares of the biopharmaceutical company's stock valued at $1,222,000 after buying an additional 35,021 shares in the last quarter. Larson Financial Group LLC increased its stake in Pfizer by 7.7% in the first quarter. Larson Financial Group LLC now owns 104,071 shares of the biopharmaceutical company's stock valued at $2,637,000 after acquiring an additional 7,405 shares during the last quarter. Wealthfront Advisers LLC raised its position in Pfizer by 0.9% during the first quarter. Wealthfront Advisers LLC now owns 709,020 shares of the biopharmaceutical company's stock valued at $17,967,000 after purchasing an additional 6,458 shares in the last quarter. Patrick Mauro Investment Advisor INC. lifted its stake in Pfizer by 20.3% during the first quarter. Patrick Mauro Investment Advisor INC. now owns 387,607 shares of the biopharmaceutical company's stock worth $9,822,000 after purchasing an additional 65,440 shares during the last quarter. Finally, West Family Investments Inc. acquired a new stake in shares of Pfizer in the 1st quarter valued at $359,000. Institutional investors own 68.36% of the company's stock.

Pfizer Trading Down 0.1%

Shares of PFE traded down $0.02 during mid-day trading on Thursday, reaching $24.59. 47,333,190 shares of the company were exchanged, compared to its average volume of 41,969,404. The business has a 50 day simple moving average of $23.99 and a two-hundred day simple moving average of $24.77. Pfizer Inc. has a 52 week low of $20.92 and a 52 week high of $31.54. The stock has a market capitalization of $139.83 billion, a PE ratio of 17.82, a PEG ratio of 0.90 and a beta of 0.58. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.96 and a current ratio of 1.26.

Pfizer (NYSE:PFE - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The biopharmaceutical company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.25. The company had revenue of $13.72 billion during the quarter, compared to analysts' expectations of $14.43 billion. Pfizer had a net margin of 12.62% and a return on equity of 20.33%. Pfizer's revenue for the quarter was down 7.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.82 earnings per share. On average, analysts predict that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.

Pfizer Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Friday, July 25th will be issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 6.99%. The ex-dividend date is Friday, July 25th. Pfizer's payout ratio is 124.64%.

Analyst Ratings Changes

Several analysts recently weighed in on PFE shares. The Goldman Sachs Group upped their price objective on Pfizer from $25.00 to $27.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 30th. Redburn Atlantic reduced their price target on shares of Pfizer from $29.00 to $27.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 30th. Bank of America lifted their price target on shares of Pfizer from $26.00 to $27.00 and gave the company a "neutral" rating in a report on Wednesday, April 30th. UBS Group increased their price objective on shares of Pfizer from $24.00 to $25.00 and gave the company a "neutral" rating in a research note on Wednesday, April 30th. Finally, BMO Capital Markets decreased their target price on shares of Pfizer from $36.00 to $30.00 in a research note on Thursday, April 17th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, six have given a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $28.55.

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.