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

Chemung Canal Trust Co. decreased its holdings in Pfizer Inc. (NYSE:PFE - Free Report) by 32.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. 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 hedge funds have also recently made changes to their positions in the company. Bessemer Group Inc. boosted its stake in shares of Pfizer by 11.1% in the first quarter. Bessemer Group Inc. now owns 132,478 shares of the biopharmaceutical company's stock worth $3,358,000 after acquiring an additional 13,228 shares during the period. Capital Advisors Inc. OK grew its stake in Pfizer by 1.2% during the first quarter. Capital Advisors Inc. OK now owns 1,413,472 shares of the biopharmaceutical company's stock valued at $35,817,000 after acquiring an additional 17,032 shares in the last quarter. CHURCHILL MANAGEMENT Corp purchased a new position in Pfizer during the first quarter valued at $8,283,000. Alta Advisers Ltd grew its stake in Pfizer by 69.6% during the first quarter. Alta Advisers Ltd now owns 31,912 shares of the biopharmaceutical company's stock valued at $809,000 after acquiring an additional 13,100 shares in the last quarter. Finally, WCM Investment Management LLC grew its stake in Pfizer by 8.7% during the first quarter. WCM Investment Management LLC now owns 125,964 shares of the biopharmaceutical company's stock valued at $3,176,000 after acquiring an additional 10,051 shares in the last quarter. Institutional investors own 68.36% of the company's stock.

Pfizer Trading Up 0.8%

Shares of NYSE PFE traded up $0.21 during mid-day trading on Thursday, reaching $25.77. The company had a trading volume of 39,477,537 shares, compared to its average volume of 41,842,555. 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 stock has a market cap of $146.49 billion, a price-to-earnings ratio of 18.67, a price-to-earnings-growth ratio of 0.93 and a beta of 0.58. The business's 50-day moving average is $23.86 and its 200-day moving average is $24.81. 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 announced its quarterly earnings results on Tuesday, April 29th. The biopharmaceutical company reported $0.92 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.67 by $0.25. Pfizer had a return on equity of 20.33% and a net margin of 12.62%. The business had revenue of $13.72 billion for the quarter, compared to the consensus estimate of $14.43 billion. During the same period last year, the business posted $0.82 EPS. The business's revenue was down 7.8% compared to the same quarter last year. Equities analysts expect that Pfizer Inc. will post 2.95 earnings per share for the current year.

Pfizer Dividend Announcement

The business 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. The ex-dividend date is Friday, July 25th. This represents a $1.72 annualized dividend and a dividend yield of 6.68%. Pfizer's payout ratio is currently 124.64%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Redburn Atlantic cut their target price on shares of Pfizer from $29.00 to $27.00 and set a "neutral" rating for the company in a research note on Wednesday, April 30th. Cantor Fitzgerald assumed coverage on Pfizer in a research note on Tuesday, April 22nd. They issued a "neutral" rating and a $24.00 price objective on the stock. Citigroup lifted their price objective on Pfizer from $23.00 to $25.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 30th. Guggenheim reaffirmed a "buy" rating on shares of Pfizer in a research note on Tuesday, March 18th. Finally, BMO Capital Markets reduced their price objective on Pfizer from $36.00 to $30.00 in a research note on Thursday, April 17th. 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 MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $28.55.

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.