Canandaigua National Bank & Trust Co. Sells 35,751 Shares of Pfizer Inc. (NYSE:PFE)

Canandaigua National Bank & Trust Co. lessened its stake in shares of Pfizer Inc. (NYSE:PFE) by 15.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 199,526 shares of the biopharmaceutical company’s stock after selling 35,751 shares during the quarter. Canandaigua National Bank & Trust Co.’s holdings in Pfizer were worth $5,293,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Gladius Capital Management LP increased its stake in shares of Pfizer by 102.8% in the 3rd quarter. Gladius Capital Management LP now owns 1,043 shares of the biopharmaceutical company’s stock valued at $30,000 after acquiring an additional 38,015 shares in the last quarter. Quarry LP bought a new position in shares of Pfizer in the second quarter valued at approximately $31,000. Teachers Insurance & Annuity Association of America purchased a new position in Pfizer during the 3rd quarter worth $35,000. Joseph Group Capital Management lifted its position in shares of 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 in the last quarter. Finally, Strategic Financial Concepts LLC bought a new position in Pfizer in the 2nd quarter valued at $38,000. 68.36% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on PFE shares. Citigroup started coverage on shares of Pfizer in a research report on Friday, October 25th. They set a “neutral” rating and a $30.00 target price for the company. Sanford C. Bernstein initiated coverage on shares of Pfizer in a report on Thursday, October 17th. They issued a “market perform” rating and a $32.00 price target on the stock. Bank of America reissued a “neutral” rating and issued a $29.00 price target on shares of Pfizer in a report on Tuesday, December 10th. Guggenheim cut their target price on Pfizer from $35.00 to $33.00 and set a “buy” rating for the company in a research note on Wednesday, December 11th. Finally, StockNews.com lowered Pfizer from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, six have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Pfizer has a consensus rating of “Moderate Buy” and an average target price of $32.15.

Pfizer Stock Up 1.1 %

PFE stock traded up $0.29 on Monday, reaching $26.88. 43,874,300 shares of the company traded hands, compared to its average volume of 32,645,211. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.00 and a quick ratio of 0.73. The firm has a fifty day simple moving average of $26.33 and a 200-day simple moving average of $28.08. Pfizer Inc. has a one year low of $24.48 and a one year high of $31.54. The company has a market cap of $152.33 billion, a P/E ratio of 36.32, a price-to-earnings-growth ratio of 0.63 and a beta of 0.65.

Pfizer (NYSE:PFE) last announced its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.42. The company had revenue of $17.70 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.17) EPS. Research analysts anticipate that Pfizer Inc. will post 2.95 earnings per share for the current year.

Pfizer Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, January 24th will be given a $0.43 dividend. This is a positive change from Pfizer’s previous quarterly dividend of $0.42. The ex-dividend date is Friday, January 24th. This represents a $1.72 dividend on an annualized basis and a yield of 6.40%. Pfizer’s payout ratio is 232.43%.

Insider Buying and Selling at Pfizer

In related news, Director Scott Gottlieb acquired 1,000 shares of the stock in a transaction that occurred on Wednesday, October 30th. The shares were bought at an average price of $28.24 per share, for a total transaction of $28,240.00. Following the completion of the transaction, the director now directly owns 10,000 shares in the company, valued at approximately $282,400. This trade represents a 11.11 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.06% of the company’s stock.

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.