Pfizer Inc. $PFE Shares Acquired by Canandaigua National Bank & Trust Co.

Key Points

• Canandaigua National Bank & Trust Co. increased its Pfizer holdings by 15.5% in Q2, resulting in ownership of 218,881 shares valued at approximately $5.3 million.
• Pfizer reported Q2 earnings of $0.78 EPS, exceeding estimates, with revenue of $14.65 billion, marking a 10.3% year-over-year increase.
• The company declared a quarterly dividend of $0.43 per share, yielding 7.2%, with a payout ratio of 91.49% following the latest distribution.

Canandaigua National Bank & Trust Co. lifted its holdings in shares of Pfizer Inc. (NYSE:PFE - Free Report) by 15.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 218,881 shares of the biopharmaceutical company's stock after buying an additional 29,392 shares during the period. Canandaigua National Bank & Trust Co.'s holdings in Pfizer were worth $5,306,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Gould Capital LLC raised its holdings in Pfizer by 97.2% during the fourth quarter. Gould Capital LLC now owns 1,000 shares of the biopharmaceutical company's stock worth $27,000 after purchasing an additional 493 shares in the last quarter. GKV Capital Management Co. Inc. bought a new stake in Pfizer during the first quarter worth approximately $27,000. Bayforest Capital Ltd bought a new stake in Pfizer during the first quarter worth approximately $28,000. North Capital Inc. bought a new stake in Pfizer during the first quarter worth approximately $28,000. Finally, Bernard Wealth Management Corp. bought a new stake in Pfizer during the fourth quarter worth approximately $30,000. 68.36% of the stock is currently owned by institutional investors and hedge funds.

Pfizer Price Performance

Shares of NYSE:PFE opened at $23.91 on Monday. The company's fifty day moving average is $24.79 and its two-hundred day moving average is $24.27. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.65. Pfizer Inc. has a 12-month low of $20.92 and a 12-month high of $30.43. The company has a market cap of $135.94 billion, a P/E ratio of 12.72, a price-to-earnings-growth ratio of 0.85 and a beta of 0.55.

Pfizer (NYSE:PFE - Get Free Report) last announced its earnings results on Tuesday, August 5th. The biopharmaceutical company reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.20. Pfizer had a net margin of 16.84% and a return on equity of 21.42%. The company had revenue of $14.65 billion for the quarter, compared to the consensus estimate of $13.43 billion. During the same period in the previous year, the business earned $0.60 EPS. The company's revenue was up 10.3% on a year-over-year basis. Pfizer has set its FY 2025 guidance at 2.900-3.100 EPS. Equities analysts expect that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.

Pfizer Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Friday, July 25th were paid a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 7.2%. The ex-dividend date of this dividend was Friday, July 25th. Pfizer's payout ratio is 91.49%.

Analysts Set New Price Targets

PFE has been the topic of several recent analyst reports. Bank of America boosted their target price on Pfizer from $27.00 to $28.00 and gave the stock a "neutral" rating in a report on Wednesday, August 6th. Jefferies Financial Group boosted their target price on Pfizer from $32.00 to $33.00 and gave the stock a "buy" rating in a report on Wednesday, May 21st. Citigroup boosted their target price on Pfizer from $25.00 to $26.00 and gave the stock a "neutral" rating in a report on Wednesday, August 6th. Berenberg Bank dropped their price target on Pfizer from $28.00 to $25.00 and set a "hold" rating on the stock in a report on Thursday, May 29th. Finally, Morgan Stanley upped their price target on Pfizer from $32.00 to $33.00 and gave the company an "equal weight" rating in a report on Wednesday, August 6th. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Pfizer has an average rating of "Hold" and an average price target of $28.12.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.