Chemung Canal Trust Co. Trims Holdings in Pfizer Inc. (NYSE:PFE)

Chemung Canal Trust Co. decreased its position in Pfizer Inc. (NYSE:PFE - Free Report) by 32.7% during the 1st quarter, according to its most recent disclosure with the 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.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Brighton Jones LLC boosted its holdings in Pfizer by 1,282.4% in the fourth quarter. Brighton Jones LLC now owns 666,318 shares of the biopharmaceutical company's stock valued at $17,677,000 after acquiring an additional 618,117 shares in the last quarter. Revolve Wealth Partners LLC boosted its holdings in Pfizer by 12.5% in the fourth quarter. Revolve Wealth Partners LLC now owns 18,766 shares of the biopharmaceutical company's stock valued at $498,000 after acquiring an additional 2,087 shares in the last quarter. Inceptionr LLC bought a new stake in Pfizer in the fourth quarter valued at $229,000. AlphaQuest LLC boosted its holdings in Pfizer by 26.1% in the fourth quarter. AlphaQuest LLC now owns 24,083 shares of the biopharmaceutical company's stock valued at $639,000 after acquiring an additional 4,987 shares in the last quarter. Finally, Independent Advisor Alliance boosted its holdings in Pfizer by 5.7% in the fourth quarter. Independent Advisor Alliance now owns 247,805 shares of the biopharmaceutical company's stock valued at $6,574,000 after acquiring an additional 13,350 shares in the last quarter. Institutional investors own 68.36% of the company's stock.

Pfizer Price Performance

Shares of PFE traded down $0.06 during mid-day trading on Wednesday, hitting $25.56. 38,339,365 shares of the stock were exchanged, compared to its average volume of 41,784,419. The company has a market cap of $145.32 billion, a PE ratio of 18.52, a price-to-earnings-growth ratio of 0.92 and a beta of 0.58. Pfizer Inc. has a 52-week low of $20.92 and a 52-week high of $31.54. The firm has a 50-day moving average of $23.80 and a two-hundred day moving average of $24.81. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.96 and a current ratio of 1.26.

Pfizer (NYSE:PFE - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The biopharmaceutical company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.25. The business had revenue of $13.72 billion for 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 company's revenue for the quarter was down 7.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.82 EPS. On average, equities analysts predict that Pfizer Inc. will post 2.95 earnings per share for the current year.

Pfizer Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Friday, July 25th will be issued a dividend of $0.43 per share. The ex-dividend date of this dividend is Friday, July 25th. This represents a $1.72 annualized dividend and a yield of 6.73%. Pfizer's payout ratio is presently 124.64%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on PFE. 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. Redburn Atlantic dropped their target price on shares of Pfizer from $29.00 to $27.00 and set a "neutral" rating on the stock in a report on Wednesday, April 30th. Citigroup boosted their target price on shares of Pfizer from $23.00 to $25.00 and gave the company a "neutral" rating in a report on Wednesday, April 30th. Morgan Stanley boosted their target price on shares of Pfizer from $31.00 to $32.00 and gave the company an "equal weight" rating in a report on Wednesday, April 30th. Finally, TD Cowen dropped their target price on shares of Pfizer from $32.00 to $28.00 and set a "hold" rating on the stock in a report on Tuesday, April 22nd. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, six have issued a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, Pfizer currently has an average rating of "Hold" and an average price target 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.