Canandaigua National Trust Co of Florida Decreases Stock Holdings in Pfizer Inc. (NYSE:PFE)

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

Other large investors have also recently modified their holdings of the company. Swiss National Bank increased its position in shares of Pfizer by 0.6% during the 3rd quarter. Swiss National Bank now owns 16,819,712 shares of the biopharmaceutical company’s stock valued at $486,762,000 after purchasing an additional 100,900 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Pfizer by 11.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 130,143,942 shares of the biopharmaceutical company’s stock valued at $3,766,366,000 after purchasing an additional 12,864,343 shares during the last quarter. Empowered Funds LLC increased its position in shares of Pfizer by 80.9% during the 3rd quarter. Empowered Funds LLC now owns 508,256 shares of the biopharmaceutical company’s stock valued at $14,709,000 after purchasing an additional 227,349 shares during the last quarter. Addison Advisors LLC grew its position in Pfizer by 394.2% in the 3rd quarter. Addison Advisors LLC now owns 52,238 shares of the biopharmaceutical company’s stock valued at $1,512,000 after acquiring an additional 41,668 shares during the last quarter. Finally, KBC Group NV grew its position in Pfizer by 26.0% in the 3rd quarter. KBC Group NV now owns 3,105,433 shares of the biopharmaceutical company’s stock valued at $89,872,000 after acquiring an additional 639,985 shares during the last quarter. Institutional investors own 68.36% of the company’s stock.

Pfizer Price Performance

Shares of Pfizer stock traded up $0.29 on Monday, reaching $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 has a market capitalization of $152.33 billion, a P/E ratio of 36.32, a PEG ratio of 0.63 and a beta of 0.65. Pfizer Inc. has a 52-week low of $24.48 and a 52-week high of $31.54. The stock has a 50-day moving average price of $26.33 and a 200-day moving average price of $28.08. The company has a quick ratio of 0.73, a current ratio of 1.00 and a debt-to-equity ratio of 0.63.

Pfizer (NYSE:PFE) last posted its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $1.06 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 analysts’ expectations of $14.92 billion. Pfizer had a return on equity of 16.28% and a net margin of 7.07%. The business’s revenue was up 31.2% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.17) earnings per share. Analysts expect that Pfizer Inc. will post 2.95 EPS for the current year.

Pfizer Increases Dividend

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

Insider Buying and Selling

In other news, Director Scott Gottlieb purchased 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The stock was purchased at an average cost of $28.24 per share, for a total transaction of $28,240.00. Following the completion of the transaction, the director now owns 10,000 shares of the company’s stock, valued at $282,400. This trade represents a 11.11 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 0.06% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages have commented on PFE. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $45.00 price objective on shares of Pfizer in a research report on Wednesday, October 23rd. StockNews.com downgraded Pfizer from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, November 20th. Bank of America reissued a “neutral” rating and set a $29.00 price target on shares of Pfizer in a research report on Tuesday, December 10th. Sanford C. Bernstein assumed coverage on Pfizer in a research report on Thursday, October 17th. They set a “market perform” rating and a $32.00 price target on the stock. Finally, Truist Financial dropped their price target on Pfizer from $36.00 to $32.00 and set a “buy” rating on the stock in a research report on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price 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.