Pfizer Inc. $PFE Shares Sold by Canandaigua National Bank & Trust Co.

Canandaigua National Bank & Trust Co. lessened its stake in Pfizer Inc. (NYSE:PFE) by 13.1% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 190,139 shares of the biopharmaceutical company’s stock after selling 28,742 shares during the period. Canandaigua National Bank & Trust Co.’s holdings in Pfizer were worth $4,845,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Pfizer in the second quarter valued at $2,270,157,000. Amundi grew its position in Pfizer by 43.4% in the 1st quarter. Amundi now owns 52,090,403 shares of the biopharmaceutical company’s stock valued at $1,265,277,000 after acquiring an additional 15,758,846 shares in the last quarter. Vanguard Group Inc. grew its position in Pfizer by 1.9% in the 2nd quarter. Vanguard Group Inc. now owns 533,363,457 shares of the biopharmaceutical company’s stock valued at $12,928,730,000 after acquiring an additional 10,198,330 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in Pfizer by 43.4% during the second quarter. Arrowstreet Capital Limited Partnership now owns 18,718,955 shares of the biopharmaceutical company’s stock worth $453,747,000 after purchasing an additional 5,662,309 shares during the period. Finally, Assenagon Asset Management S.A. boosted its stake in shares of Pfizer by 75.0% in the third quarter. Assenagon Asset Management S.A. now owns 8,689,103 shares of the biopharmaceutical company’s stock valued at $221,398,000 after purchasing an additional 3,722,531 shares during the period. 68.36% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently weighed in on PFE. Morgan Stanley cut their target price on shares of Pfizer from $32.00 to $28.00 and set an “equal weight” rating on the stock in a research note on Friday. HSBC reaffirmed a “buy” rating and set a $29.00 price objective on shares of Pfizer in a research report on Wednesday, December 10th. Citigroup started coverage on Pfizer in a report on Tuesday, December 2nd. They issued a “neutral” rating and a $26.00 target price for the company. Scotiabank began coverage on Pfizer in a research note on Thursday, November 13th. They set a “sector outperform” rating and a $30.00 target price for the company. Finally, Bank of America reduced their price target on Pfizer from $29.00 to $28.00 and set a “neutral” rating on the stock in a research report on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $28.22.

Pfizer Stock Performance

Shares of PFE stock opened at $25.56 on Wednesday. The company has a market cap of $145.34 billion, a P/E ratio of 14.86 and a beta of 0.46. The firm has a fifty day moving average price of $25.11 and a 200 day moving average price of $24.81. The company has a current ratio of 1.28, a quick ratio of 0.97 and a debt-to-equity ratio of 0.62. Pfizer Inc. has a 12 month low of $20.92 and a 12 month high of $27.69.

Pfizer (NYSE:PFE) last announced its quarterly earnings results on Tuesday, November 4th. The biopharmaceutical company reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.79 by $0.08. Pfizer had a return on equity of 20.17% and a net margin of 15.65%.The company had revenue of $16.65 billion during the quarter, compared to the consensus estimate of $16.94 billion. Pfizer has set its FY 2025 guidance at 3.000-3.150 EPS. Sell-side analysts predict that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.

Pfizer Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 6th. Shareholders of record on Friday, January 23rd will be paid a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 6.7%. The ex-dividend date is Friday, January 23rd. Pfizer’s dividend payout ratio is currently 100.00%.

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.