Chemung Canal Trust Co. cut its position in shares of Pfizer Inc. (NYSE:PFE – Free Report) by 74.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 52,495 shares of the biopharmaceutical company’s stock after selling 153,908 shares during the quarter. Chemung Canal Trust Co.’s holdings in Pfizer were worth $1,393,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in the company. Wells Trecaso Financial Group LLC raised its stake in shares of Pfizer by 2.5% in the third quarter. Wells Trecaso Financial Group LLC now owns 14,361 shares of the biopharmaceutical company’s stock valued at $416,000 after purchasing an additional 350 shares in the last quarter. Washington Trust Advisors Inc. raised its stake in shares of Pfizer by 0.7% in the 3rd quarter. Washington Trust Advisors Inc. now owns 49,216 shares of the biopharmaceutical company’s stock valued at $1,424,000 after buying an additional 360 shares in the last quarter. Cullen Investment Group LTD. lifted its holdings in shares of Pfizer by 0.9% during the 3rd quarter. Cullen Investment Group LTD. now owns 42,677 shares of the biopharmaceutical company’s stock worth $1,235,000 after acquiring an additional 377 shares during the period. PSI Advisors LLC boosted its position in shares of Pfizer by 1.4% during the 4th quarter. PSI Advisors LLC now owns 27,823 shares of the biopharmaceutical company’s stock valued at $738,000 after acquiring an additional 385 shares in the last quarter. Finally, MidWestOne Financial Group Inc. increased its stake in Pfizer by 1.5% in the second quarter. MidWestOne Financial Group Inc. now owns 26,530 shares of the biopharmaceutical company’s stock valued at $742,000 after acquiring an additional 386 shares during the period. Institutional investors and hedge funds own 68.36% of the company’s stock.
Analysts Set New Price Targets
A number of equities research analysts have weighed in on PFE shares. Guggenheim decreased their price objective on Pfizer from $35.00 to $33.00 and set a “buy” rating on the stock in a report on Wednesday, December 11th. Truist Financial decreased their price target on Pfizer from $36.00 to $32.00 and set a “buy” rating on the stock in a research note on Wednesday, December 18th. Bank of America reiterated a “neutral” rating and set a $29.00 price objective on shares of Pfizer in a research note on Tuesday, December 10th. Sanford C. Bernstein started coverage on shares of Pfizer in a research note on Thursday, October 17th. They issued a “market perform” rating and a $32.00 target price on the stock. Finally, Wolfe Research started coverage on shares of Pfizer in a research report on Friday, November 15th. They set an “underperform” rating and a $25.00 target price for the company. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $32.00.
Pfizer Price Performance
PFE opened at $26.10 on Friday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.00 and a quick ratio of 0.73. The company’s 50 day simple moving average is $26.08 and its 200-day simple moving average is $27.95. Pfizer Inc. has a one year low of $24.48 and a one year high of $31.54. The stock has a market capitalization of $147.89 billion, a P/E ratio of 35.27, a price-to-earnings-growth ratio of 0.64 and a beta of 0.64.
Pfizer (NYSE:PFE – Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $1.06 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.42. Pfizer had a return on equity of 16.28% and a net margin of 7.07%. The firm had revenue of $17.70 billion for the quarter, compared to analyst estimates of $14.92 billion. During the same period last year, the company earned ($0.17) EPS. The business’s quarterly revenue was up 31.2% compared to the same quarter last year. Sell-side analysts anticipate that Pfizer Inc. will post 2.94 earnings per share for the current fiscal year.
Pfizer Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, January 24th will be given a dividend of $0.43 per share. The ex-dividend date of this dividend is Friday, January 24th. This is an increase from Pfizer’s previous quarterly dividend of $0.42. This represents a $1.72 dividend on an annualized basis and a yield of 6.59%. Pfizer’s dividend payout ratio is presently 227.03%.
Insider Activity
In related news, Director Scott Gottlieb purchased 1,000 shares of the business’s stock in a transaction dated Wednesday, October 30th. The shares were bought at an average price of $28.24 per share, with a total value of $28,240.00. Following the purchase, the director now directly owns 10,000 shares in the company, valued at $282,400. This trade represents a 11.11 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.06% of the company’s stock.
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.
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