Chemung Canal Trust Co. Decreases Stake in Pfizer Inc. (NYSE:PFE)

Chemung Canal Trust Co. trimmed its position in Pfizer Inc. (NYSE:PFE - Free Report) by 32.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 35,315 shares of the biopharmaceutical company's stock after selling 17,180 shares during the period. Chemung Canal Trust Co.'s holdings in Pfizer were worth $895,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in Pfizer by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 518,535,151 shares of the biopharmaceutical company's stock valued at $13,756,738,000 after acquiring an additional 2,285,276 shares during the period. Geode Capital Management LLC lifted its holdings in Pfizer by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 120,589,782 shares of the biopharmaceutical company's stock valued at $3,190,131,000 after acquiring an additional 2,923,537 shares during the period. Norges Bank acquired a new stake in Pfizer in the fourth quarter valued at $2,328,986,000. Massachusetts Financial Services Co. MA lifted its holdings in Pfizer by 7.5% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 76,502,238 shares of the biopharmaceutical company's stock valued at $2,029,604,000 after acquiring an additional 5,350,381 shares during the period. Finally, Northern Trust Corp raised its stake in shares of Pfizer by 7.7% during the 4th quarter. Northern Trust Corp now owns 58,382,560 shares of the biopharmaceutical company's stock worth $1,548,889,000 after buying an additional 4,167,222 shares during the last quarter. 68.36% of the stock is currently owned by hedge funds and other institutional investors.

Pfizer Trading Up 1.3%

PFE traded up $0.33 during midday trading on Thursday, hitting $25.89. The company's stock had a trading volume of 19,220,898 shares, compared to its average volume of 41,718,455. The company has a current ratio of 1.26, a quick ratio of 0.96 and a debt-to-equity ratio of 0.64. The firm has a market cap of $147.17 billion, a P/E ratio of 18.73, a PEG ratio of 0.93 and a beta of 0.58. The firm has a 50-day moving average price of $23.82 and a two-hundred day moving average price of $24.82. Pfizer Inc. has a 52-week low of $20.92 and a 52-week high of $31.54.

Pfizer (NYSE:PFE - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The biopharmaceutical company reported $0.92 EPS for the quarter, beating 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 return on equity of 20.33% and a net margin of 12.62%. The firm's revenue was down 7.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.82 EPS. On average, research analysts anticipate that Pfizer Inc. will post 2.95 earnings per share for the current year.

Pfizer Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders 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 6.64%. The ex-dividend date of this dividend is Friday, July 25th. Pfizer's payout ratio is currently 124.64%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. HSBC cut their price target on Pfizer from $27.00 to $26.00 and set a "buy" rating for the company in a research note on Monday, May 19th. Cantor Fitzgerald assumed coverage on Pfizer in a research note on Tuesday, April 22nd. They set a "neutral" rating and a $24.00 price target for the company. Berenberg Bank cut their price target on Pfizer from $28.00 to $25.00 and set a "hold" rating for the company in a research note on Thursday, May 29th. Citigroup lifted their price target on Pfizer from $23.00 to $25.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 30th. Finally, Morgan Stanley lifted their price target on Pfizer from $31.00 to $32.00 and gave the stock an "equal weight" rating in a research note on Wednesday, April 30th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, six have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $28.55.

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.