Chemung Canal Trust Co. Sells 17,180 Shares of Pfizer Inc. (NYSE:PFE)

Chemung Canal Trust Co. cut its position in Pfizer Inc. (NYSE:PFE - Free Report) by 32.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm 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 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Clarity Asset Management Inc. acquired a new stake in shares of Pfizer in the 4th quarter valued at about $27,000. Gould Capital LLC boosted its stake in Pfizer by 97.2% during the 4th quarter. Gould Capital LLC now owns 1,000 shares of the biopharmaceutical company's stock valued at $27,000 after purchasing an additional 493 shares during the last quarter. North Capital Inc. acquired a new position in Pfizer during the 1st quarter valued at about $28,000. Bernard Wealth Management Corp. purchased a new position in shares of Pfizer in the 4th quarter worth approximately $30,000. Finally, Curio Wealth LLC purchased a new position in shares of Pfizer in the 4th quarter worth approximately $32,000. 68.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on PFE shares. Redburn Atlantic cut their target price on Pfizer from $29.00 to $27.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 30th. Cantor Fitzgerald began coverage on Pfizer in a research note on Tuesday, April 22nd. They issued a "neutral" rating and a $24.00 target price on the stock. Wolfe Research lifted their price target on shares of Pfizer from $22.00 to $23.00 and gave the stock an "underperform" rating in a report on Wednesday, April 30th. Leerink Partners lowered their price target on shares of Pfizer from $28.00 to $26.00 and set a "market perform" rating on the stock in a report on Wednesday, April 30th. Finally, Bank of America boosted their target price on shares of Pfizer from $26.00 to $27.00 and gave the company a "neutral" rating in a report on Wednesday, April 30th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, six have given a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $28.55.

Pfizer Trading Down 0.5%

Shares of NYSE:PFE traded down $0.13 during midday trading on Friday, hitting $25.65. 34,838,317 shares of the stock traded hands, compared to its average volume of 41,792,724. The stock has a market capitalization of $145.83 billion, a PE ratio of 18.59, a P/E/G ratio of 0.94 and a beta of 0.58. The business's 50 day moving average is $23.89 and its two-hundred day moving average is $24.80. The company has a quick ratio of 0.96, a current ratio of 1.26 and a debt-to-equity ratio of 0.64. Pfizer Inc. has a one year low of $20.92 and a one year high of $31.54.

Pfizer (NYSE:PFE - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $13.72 billion during the quarter, compared to the consensus estimate of $14.43 billion. Pfizer had a net margin of 12.62% and a return on equity of 20.33%. The company's quarterly revenue was down 7.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.82 earnings per share. As a group, research analysts forecast that Pfizer Inc. will post 2.95 earnings per share for the current year.

Pfizer Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Friday, July 25th will be paid a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 6.71%. The ex-dividend date is Friday, July 25th. Pfizer's dividend payout ratio (DPR) is 124.64%.

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.