Canandaigua National Bank & Trust Co. Purchases New Holdings in Pfizer Inc. $PFE

Key Points

• Canandaigua National Bank & Trust purchased 160,394 Pfizer shares worth approximately $3.86 million in the second quarter. Institutional investors collectively own 68.36% of Pfizer.
• Pfizer beat second-quarter expectations with adjusted EPS of $0.77 and revenue of $15.03 billion, while raising the low end of its 2026 revenue outlook to $60.5 billion. Growth from Eliquis, oncology and acquired products helped offset declining COVID-19 sales.
• Pfizer plans roughly $2.5 billion in additional cost reductions by 2029 and is pursuing obesity-drug opportunities, but analysts maintain a consensus “Hold” rating with a $28.50 price target. The company also offers a quarterly dividend of $0.43 per share, representing an annualized yield of about 6.8%.

Canandaigua National Bank & Trust Co. purchased a new stake in Pfizer Inc. (NYSE:PFE - Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 160,394 shares of the biopharmaceutical company's stock, valued at approximately $3,862,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in PFE. Vanguard Group Inc. increased its holdings in Pfizer by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 541,346,182 shares of the biopharmaceutical company's stock worth $13,479,520,000 after buying an additional 7,031,162 shares during the last quarter. State Street Corp grew its position in shares of Pfizer by 0.5% in the 4th quarter. State Street Corp now owns 300,445,164 shares of the biopharmaceutical company's stock valued at $7,481,085,000 after acquiring an additional 1,357,756 shares during the period. Geode Capital Management LLC grew its position in shares of Pfizer by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 130,192,081 shares of the biopharmaceutical company's stock valued at $3,235,642,000 after acquiring an additional 1,184,728 shares during the period. Morgan Stanley increased its stake in shares of Pfizer by 19.2% during the 4th quarter. Morgan Stanley now owns 89,113,604 shares of the biopharmaceutical company's stock worth $2,218,929,000 after purchasing an additional 14,342,946 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Pfizer in the 4th quarter valued at about $1,830,986,000. Institutional investors own 68.36% of the company's stock.

Key Pfizer News

Here are the key news stories impacting Pfizer this week:

• Positive Sentiment: Pfizer beat expectations with adjusted second-quarter EPS of $0.77 versus the $0.68 consensus and revenue of $15.03 billion versus $14.40 billion expected. Strong Eliquis demand and growth from oncology and other launched or acquired products helped offset weaker COVID sales. Pfizer beats quarterly profit estimates on strong demand for blood thinner Eliquis
• Positive Sentiment: The company raised the low end of its 2026 revenue outlook, increasing the range to $60.5 billion-$62.5 billion from $59.5 billion-$62.5 billion, or a $500 million increase at the midpoint. Pfizer maintained adjusted EPS guidance of $2.80-$3.00. Pfizer tops quarterly estimates, hikes low end of revenue guidance
• Positive Sentiment: Pfizer plans approximately $2.5 billion in additional cost reductions by 2029. Management also highlighted obesity-drug development, including a monthly GLP-1 candidate that could become a meaningful future growth driver if clinical data are favorable. Pfizer Says Monthly GLP-1 Candidate Could Rival Tirzepatide
• Neutral Sentiment: Pfizer’s recovery is becoming more diversified, but the company remains reliant on successful execution across oncology, Eliquis, acquired products, and its pipeline as older products mature. Pfizer Earnings Reveal New Engine Beyond Covid
• Negative Sentiment: COVID-19 product revenue continues to decline sharply, prompting analysts to reduce COVID forecasts. Pfizer also swung to a quarterly loss on reported results despite the adjusted earnings beat. PFE Q2 Earnings Top, 2026 Sales View Tweaked, COVID Forecast Cut
• Negative Sentiment: Healthcare stocks were broadly lower late in the session, adding sector pressure and helping explain why Pfizer’s strong results did not produce a sustained positive reaction. Sector Update: Healthcare Stocks Softer Late Afternoon

Wall Street Analyst Weigh In

A number of research firms recently commented on PFE. Guggenheim reduced their price target on Pfizer from $36.00 to $35.00 and set a "buy" rating for the company in a report on Monday, July 13th. CICC Research initiated coverage on Pfizer in a research note on Thursday, April 16th. They issued an "outperform" rating and a $33.00 price objective on the stock. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $27.00 price objective on shares of Pfizer in a research report on Monday, July 6th. BMO Capital Markets reduced their target price on Pfizer from $34.00 to $30.00 and set an "outperform" rating for the company in a research note on Monday, July 13th. Finally, Royal Bank Of Canada raised Pfizer from an "underperform" rating to a "sector perform" rating and set a $25.00 target price on the stock in a report on Tuesday, June 9th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, fourteen have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $28.50.

Pfizer Stock Up 1.3%

Shares of PFE opened at $25.35 on Wednesday. Pfizer Inc. has a 52 week low of $23.58 and a 52 week high of $28.75. The firm has a market cap of $144.50 billion, a P/E ratio of 19.35 and a beta of 0.34. The firm's 50-day simple moving average is $25.02 and its 200 day simple moving average is $26.16. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.94 and a current ratio of 1.25.

Pfizer (NYSE:PFE - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The biopharmaceutical company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.09. Pfizer had a net margin of 11.83% and a return on equity of 19.44%. The firm had revenue of $15.03 billion during the quarter, compared to the consensus estimate of $14.40 billion. During the same period last year, the business posted $0.78 earnings per share. The business's revenue for the quarter was up 2.6% compared to the same quarter last year. Pfizer has set its FY 2026 guidance at 2.800-3.000 EPS. On average, analysts forecast that Pfizer Inc. will post 2.96 earnings per share for the current year.

Pfizer Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, July 24th will be given a dividend of $0.43 per share. The ex-dividend date is Friday, July 24th. This represents a $1.72 annualized dividend and a yield of 6.8%. Pfizer's dividend payout ratio (DPR) is presently 131.30%.

Pfizer Company Profile

Pfizer Inc NYSE: PFE is a multinational biopharmaceutical company headquartered in New York City. Founded in 1849 by Charles Pfizer and Charles Erhart, the company researches, develops, manufactures and commercializes a broad range of medicines and vaccines for human health. Its activities span discovery research, clinical development, regulatory affairs, manufacturing and global commercial distribution across multiple therapeutic areas.

Pfizer's portfolio and pipeline cover oncology, immunology, cardiology, endocrinology, rare diseases, hospital acute care and anti-infectives, along with a substantial vaccine business.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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