Korea Investment CORP Sells 556,393 Shares of Pfizer Inc. $PFE

by · The Cerbat Gem

Korea Investment CORP reduced its stake in Pfizer Inc. (NYSE:PFE – Free Report) by 13.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,720,238 shares of the biopharmaceutical company’s stock after selling 556,393 shares during the quarter. Korea Investment CORP owned about 0.07% of Pfizer worth $94,271,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. Clarity Asset Management Inc. bought a new position in Pfizer in the 4th quarter valued at approximately $27,000. Gould Capital LLC lifted its position in Pfizer by 97.2% in the 4th quarter. Gould Capital LLC now owns 1,000 shares of the biopharmaceutical company’s stock valued at $27,000 after acquiring an additional 493 shares in the last quarter. GKV Capital Management Co. Inc. bought a new position in Pfizer in the 1st quarter valued at approximately $27,000. North Capital Inc. bought a new position in Pfizer in the 1st quarter valued at approximately $28,000. Finally, Bayforest Capital Ltd bought a new position in Pfizer in the 1st quarter valued at approximately $28,000. 68.36% of the stock is owned by institutional investors.

Pfizer Trading Up 0.2%

NYSE:PFE opened at $25.16 on Monday. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.16 and a quick ratio of 0.85. The firm has a market capitalization of $143.05 billion, a price-to-earnings ratio of 13.38, a price-to-earnings-growth ratio of 0.89 and a beta of 0.52. Pfizer Inc. has a one year low of $20.92 and a one year high of $30.43. The business has a fifty day moving average price of $24.60 and a 200-day moving average price of $24.42.

Pfizer (NYSE:PFE – Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The biopharmaceutical company reported $0.78 EPS for the quarter, topping the consensus estimate of $0.58 by $0.20. Pfizer had a return on equity of 21.42% and a net margin of 16.84%. The firm had revenue of $14.65 billion during the quarter, compared to analyst estimates of $13.43 billion. During the same period in the prior year, the business posted $0.60 EPS. Pfizer’s revenue was up 10.3% on a year-over-year basis. Sell-side analysts forecast that Pfizer Inc. will post 2.95 EPS for the current 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 paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 6.8%. The ex-dividend date is Friday, July 25th. Pfizer’s dividend payout ratio is presently 91.49%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on PFE shares. Redburn Atlantic lowered their price objective on Pfizer from $29.00 to $27.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 30th. Berenberg Bank decreased their target price on shares of Pfizer from $28.00 to $25.00 and set a “hold” rating for the company in a research note on Thursday, May 29th. Bank of America boosted their target price on shares of Pfizer from $27.00 to $28.00 and gave the company a “neutral” rating in a research note on Wednesday, August 6th. Jefferies Financial Group boosted their target price on shares of Pfizer from $32.00 to $33.00 and gave the company a “buy” rating in a research note on Wednesday, May 21st. Finally, HSBC decreased their target price on shares of Pfizer from $27.00 to $26.00 and set a “buy” rating for the company in a research note on Monday, May 19th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $28.12.

View Our Latest Research Report on PFE

Pfizer Company Profile

(Free Report)

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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