Canandaigua National Trust Co of Florida Sells 26,993 Shares of Pfizer Inc. (NYSE:PFE)

Canandaigua National Trust Co of Florida cut its holdings in shares of Pfizer Inc. (NYSE:PFE) by 71.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,542 shares of the biopharmaceutical company’s stock after selling 26,993 shares during the quarter. Canandaigua National Trust Co of Florida’s holdings in Pfizer were worth $280,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. State Street Corp increased its position in shares of Pfizer by 1.2% in the third quarter. State Street Corp now owns 290,460,600 shares of the biopharmaceutical company’s stock worth $8,405,930,000 after purchasing an additional 3,405,539 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Pfizer by 11.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 130,143,942 shares of the biopharmaceutical company’s stock worth $3,766,366,000 after purchasing an additional 12,864,343 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Pfizer by 1.6% in the third quarter. Geode Capital Management LLC now owns 117,666,245 shares of the biopharmaceutical company’s stock worth $3,392,342,000 after purchasing an additional 1,855,419 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Pfizer by 3.2% in the second quarter. Massachusetts Financial Services Co. MA now owns 71,794,056 shares of the biopharmaceutical company’s stock worth $2,008,798,000 after purchasing an additional 2,241,609 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Pfizer by 22.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 38,068,879 shares of the biopharmaceutical company’s stock worth $1,101,713,000 after purchasing an additional 6,977,587 shares during the last quarter. 68.36% of the stock is owned by hedge funds and other institutional investors.

Pfizer Stock Performance

NYSE PFE traded up $0.29 during trading hours on Monday, hitting $26.88. The company’s stock had a trading volume of 43,883,102 shares, compared to its average volume of 36,705,898. The company’s 50 day simple moving average is $26.33 and its two-hundred day simple moving average is $28.08. 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 Inc. has a 12 month low of $24.48 and a 12 month high of $31.54. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.00 and a quick ratio of 0.73.

Pfizer (NYSE:PFE) last released its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 return on equity of 16.28% and a net margin of 7.07%. The business’s quarterly revenue was up 31.2% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.17) EPS. As a group, sell-side analysts expect that Pfizer Inc. will post 2.95 EPS for the current fiscal year.

Pfizer Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, January 24th will be given a dividend of $0.43 per share. This is a boost from Pfizer’s previous quarterly dividend of $0.42. This represents a $1.72 dividend on an annualized basis and a dividend yield of 6.40%. The ex-dividend date of this dividend is Friday, January 24th. Pfizer’s payout ratio is presently 232.43%.

Insider Activity

In related news, Director Scott Gottlieb acquired 1,000 shares of the stock in a transaction dated Wednesday, October 30th. The shares were purchased at an average cost of $28.24 per share, with a total value of $28,240.00. Following the transaction, the director now directly owns 10,000 shares in the company, valued at approximately $282,400. This represents a 11.11 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on PFE. Citigroup assumed coverage on shares of Pfizer in a research report on Friday, October 25th. They set a “neutral” rating and a $30.00 price target on the stock. Guggenheim cut their target price on shares of Pfizer from $35.00 to $33.00 and set a “buy” rating on the stock in a report on Wednesday, December 11th. Sanford C. Bernstein assumed coverage on shares of Pfizer in a report on Thursday, October 17th. They issued a “market perform” rating and a $32.00 target price on the stock. Bank of America restated a “neutral” rating and issued a $29.00 target price on shares of Pfizer in a report on Tuesday, December 10th. Finally, Evercore ISI upgraded shares of Pfizer to a “strong-buy” rating in a report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, six have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.15.

About Pfizer

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.