Kornitzer Capital Management Inc. KS Reduces Stock Position in Pfizer Inc. $PFE

Key Points

• Kornitzer Capital Management Inc. has decreased its position in Pfizer Inc. by 3.2%, selling 41,708 shares, leaving it with 1,244,650 shares valued at $30.17 million.
• Analysts have mixed ratings on Pfizer, with a consensus rating of "Hold" and a target price of $28.13, while Morgan Stanley has downgraded its price objective from $33.00 to $32.00.
• Pfizer has announced a quarterly dividend of $0.43 per share, yielding 6.9%, with the ex-dividend date set for November 7th.

Kornitzer Capital Management Inc. KS reduced its position in shares of Pfizer Inc. (NYSE:PFE - Free Report) by 3.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,244,650 shares of the biopharmaceutical company's stock after selling 41,708 shares during the period. Kornitzer Capital Management Inc. KS's holdings in Pfizer were worth $30,170,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. GKV Capital Management Co. Inc. bought a new stake in Pfizer in the 1st quarter worth approximately $27,000. Curio Wealth LLC grew its position in shares of Pfizer by 36,600.0% during the 2nd quarter. Curio Wealth LLC now owns 1,101 shares of the biopharmaceutical company's stock valued at $27,000 after acquiring an additional 1,098 shares during the period. Bayforest Capital Ltd bought a new stake in shares of Pfizer during the 1st quarter valued at $28,000. North Capital Inc. bought a new stake in shares of Pfizer during the 1st quarter valued at $28,000. Finally, Harbor Asset Planning Inc. bought a new stake in shares of Pfizer during the 2nd quarter valued at $29,000. 68.36% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PFE has been the subject of a number of recent research reports. Morgan Stanley cut their price objective on shares of Pfizer from $33.00 to $32.00 and set an "equal weight" rating for the company in a research report on Friday, October 10th. Wall Street Zen downgraded shares of Pfizer from a "buy" rating to a "hold" rating in a research report on Sunday, September 28th. Citigroup boosted their price objective on shares of Pfizer from $25.00 to $26.00 and gave the company a "neutral" rating in a research report on Wednesday, August 6th. Bank of America boosted their price objective on shares of Pfizer from $28.00 to $30.00 and gave the company a "neutral" rating in a research report on Friday, October 3rd. Finally, Weiss Ratings reissued a "hold (c-)" rating on shares of Pfizer in a research report on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $28.13.

Pfizer Price Performance

PFE stock traded up $0.12 during mid-day trading on Friday, hitting $24.79. The company had a trading volume of 27,403,893 shares, compared to its average volume of 58,973,096. The company has a market capitalization of $140.92 billion, a price-to-earnings ratio of 13.18, a P/E/G ratio of 0.82 and a beta of 0.55. Pfizer Inc. has a 12-month low of $20.92 and a 12-month high of $29.17. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.65. The company has a 50-day moving average price of $24.87 and a 200 day moving average price of $24.17.

Pfizer (NYSE:PFE - Get Free Report) last posted its earnings results on Tuesday, August 5th. The biopharmaceutical company reported $0.78 earnings per share for the quarter, topping analysts' consensus estimates of $0.58 by $0.20. Pfizer had a net margin of 16.84% and a return on equity of 21.42%. The firm had revenue of $14.65 billion for the quarter, compared to the consensus estimate of $13.43 billion. During the same period in the previous year, the firm posted $0.60 EPS. The business'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. On average, research analysts anticipate that Pfizer Inc. will post 2.95 earnings per share for the current year.

Pfizer Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 7th will be issued a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 6.9%. The ex-dividend date is Friday, November 7th. Pfizer's dividend payout ratio is presently 91.49%.

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.

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