Chemung Canal Trust Co. Sells 153,908 Shares of Pfizer Inc. (NYSE:PFE)

Chemung Canal Trust Co. cut its position in Pfizer Inc. (NYSE:PFE) by 74.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 52,495 shares of the biopharmaceutical company’s stock after selling 153,908 shares during the period. Chemung Canal Trust Co.’s holdings in Pfizer were worth $1,393,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Retirement Wealth Solutions LLC bought a new position in Pfizer during the fourth quarter worth about $26,000. Gladius Capital Management LP raised its position in shares of Pfizer by 102.8% during the third quarter. Gladius Capital Management LP now owns 1,043 shares of the biopharmaceutical company’s stock worth $30,000 after purchasing an additional 38,015 shares during the period. Quarry LP bought a new position in shares of Pfizer during the 2nd quarter valued at about $31,000. Teachers Insurance & Annuity Association of America acquired a new position in shares of Pfizer in the 3rd quarter valued at approximately $35,000. Finally, Joseph Group Capital Management raised its holdings in Pfizer by 168.3% during the 3rd quarter. Joseph Group Capital Management now owns 1,229 shares of the biopharmaceutical company’s stock worth $36,000 after buying an additional 771 shares during the period. 68.36% of the stock is owned by institutional investors.

Pfizer Stock Performance

NYSE PFE opened at $26.10 on Friday. The firm’s fifty day moving average price is $26.08 and its two-hundred day moving average price is $27.95. Pfizer Inc. has a 1 year low of $24.48 and a 1 year high of $31.54. The firm has a market capitalization of $147.89 billion, a P/E ratio of 35.27, a price-to-earnings-growth ratio of 0.64 and a beta of 0.64. The company has a current ratio of 1.00, a quick ratio of 0.73 and a debt-to-equity ratio of 0.63.

Pfizer (NYSE:PFE) last issued its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.42. The business had revenue of $17.70 billion during the quarter, compared to the consensus estimate of $14.92 billion. Pfizer had a net margin of 7.07% and a return on equity of 16.28%. Pfizer’s revenue was up 31.2% on a year-over-year basis. During the same period last year, the business posted ($0.17) EPS. As a group, research analysts anticipate that Pfizer Inc. will post 2.94 EPS for the current year.

Pfizer Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, January 24th will be paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 6.59%. The ex-dividend date is Friday, January 24th. This is a boost from Pfizer’s previous quarterly dividend of $0.42. Pfizer’s dividend payout ratio is 227.03%.

Insider Buying and Selling at Pfizer

In other news, Director Scott Gottlieb acquired 1,000 shares of Pfizer stock in a transaction dated Wednesday, October 30th. The stock was bought at an average price of $28.24 per share, for a total transaction of $28,240.00. Following the completion of the acquisition, the director now directly owns 10,000 shares in the company, valued at approximately $282,400. The trade was a 11.11 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on PFE shares. StockNews.com downgraded shares of Pfizer from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, November 20th. Wolfe Research assumed coverage on Pfizer in a report on Friday, November 15th. They set an “underperform” rating and a $25.00 target price for the company. Evercore ISI raised Pfizer to a “strong-buy” rating in a research note on Wednesday, October 30th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $45.00 price objective on shares of Pfizer in a research report on Wednesday, October 23rd. Finally, Guggenheim dropped their target price on Pfizer from $35.00 to $33.00 and set a “buy” rating on the stock in a research report on Wednesday, December 11th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Pfizer currently has a consensus rating of “Moderate Buy” and an average price target of $32.00.

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.