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

Canandaigua National Bank & Trust Co. lessened its holdings in Pfizer Inc. (NYSE:PFE) by 15.2% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 199,526 shares of the biopharmaceutical company’s stock after selling 35,751 shares during the period. Canandaigua National Bank & Trust Co.’s holdings in Pfizer were worth $5,293,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in PFE. Oliver Luxxe Assets LLC raised its position in Pfizer by 2.2% in the fourth quarter. Oliver Luxxe Assets LLC now owns 18,811 shares of the biopharmaceutical company’s stock worth $499,000 after acquiring an additional 401 shares during the period. Neville Rodie & Shaw Inc. lifted its position in Pfizer by 8.7% during the fourth quarter. Neville Rodie & Shaw Inc. now owns 104,728 shares of the biopharmaceutical company’s stock valued at $2,779,000 after purchasing an additional 8,365 shares in the last quarter. Pensionfund Sabic grew its holdings in Pfizer by 41.7% during the fourth quarter. Pensionfund Sabic now owns 85,000 shares of the biopharmaceutical company’s stock valued at $2,255,000 after purchasing an additional 25,000 shares during the period. Nordea Investment Management AB increased its position in Pfizer by 36.1% in the fourth quarter. Nordea Investment Management AB now owns 4,071,700 shares of the biopharmaceutical company’s stock worth $108,002,000 after buying an additional 1,080,822 shares in the last quarter. Finally, Central Pacific Bank Trust Division lifted its position in shares of Pfizer by 95.1% during the 4th quarter. Central Pacific Bank Trust Division now owns 18,118 shares of the biopharmaceutical company’s stock valued at $481,000 after buying an additional 8,832 shares in the last quarter. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Insider Activity

In other Pfizer news, Director Scott Gottlieb purchased 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The stock was purchased at an average cost of $28.24 per share, with a total value of $28,240.00. Following the purchase, the director now owns 10,000 shares of the company’s stock, valued at approximately $282,400. The trade was a 11.11 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

PFE has been the topic of a number of recent analyst reports. StockNews.com cut shares of Pfizer from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, November 20th. Sanford C. Bernstein initiated coverage on shares of Pfizer in a research note on Thursday, October 17th. They set a “market perform” rating and a $32.00 target price on the stock. Citigroup assumed coverage on Pfizer in a report on Friday, October 25th. They set a “neutral” rating and a $30.00 price target on the stock. Guggenheim dropped their price objective 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, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $45.00 price objective on shares of Pfizer in a report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Pfizer has a consensus rating of “Moderate Buy” and a consensus target price of $32.15.

Pfizer Trading Up 1.1 %

PFE stock traded up $0.29 during midday trading on Monday, reaching $26.88. 43,874,300 shares of the company traded hands, compared to its average volume of 32,645,211. The firm has a market capitalization of $152.33 billion, a price-to-earnings ratio of 36.32, a P/E/G 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 business has a 50 day moving average of $26.33 and a 200-day moving average of $28.08. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.73 and a current ratio of 1.00.

Pfizer (NYSE:PFE) last posted its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $1.06 EPS for the quarter, topping the consensus estimate of $0.64 by $0.42. Pfizer had a net margin of 7.07% and a return on equity of 16.28%. The company had revenue of $17.70 billion during the quarter, compared to analyst estimates of $14.92 billion. During the same period in the previous year, the firm earned ($0.17) earnings per share. Pfizer’s quarterly revenue was up 31.2% compared to the same quarter last year. As a group, sell-side analysts expect that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.

Pfizer Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, January 24th will be paid a $0.43 dividend. The ex-dividend date is Friday, January 24th. This represents a $1.72 annualized dividend and a yield of 6.40%. This is an increase from Pfizer’s previous quarterly dividend of $0.42. Pfizer’s dividend payout ratio (DPR) is presently 232.43%.

Pfizer 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.