Chemung Canal Trust Co. Lowers Stock Holdings in Pfizer Inc. $PFE

Chemung Canal Trust Co. cut its holdings in shares of Pfizer Inc. (NYSE:PFE) by 19.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,396 shares of the biopharmaceutical company’s stock after selling 6,919 shares during the period. Chemung Canal Trust Co.’s holdings in Pfizer were worth $688,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. GKV Capital Management Co. Inc. acquired a new position in shares of Pfizer in the first quarter worth $27,000. Bayforest Capital Ltd acquired a new position in Pfizer during the 1st quarter worth $28,000. North Capital Inc. purchased a new position in shares of Pfizer in the 1st quarter valued at about $28,000. WPG Advisers LLC acquired a new position in shares of Pfizer during the first quarter worth about $35,000. Finally, Horizon Financial Services LLC purchased a new stake in shares of Pfizer during the first quarter worth approximately $35,000. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Pfizer Trading Up 1.1%

NYSE:PFE opened at $27.37 on Friday. The company has a market capitalization of $155.59 billion, a PE ratio of 14.56, a P/E/G ratio of 0.88 and a beta of 0.55. Pfizer Inc. has a 52-week low of $20.92 and a 52-week high of $30.43. The stock’s 50 day moving average price is $24.67 and its 200 day moving average price is $24.14. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.65.

Pfizer (NYSE:PFE) last posted its quarterly earnings data on Tuesday, August 5th. The biopharmaceutical company reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.20. The business had revenue of $14.65 billion during the quarter, compared to the consensus estimate of $13.43 billion. Pfizer had a return on equity of 21.42% and a net margin of 16.84%.The company’s revenue was up 10.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.60 earnings per share. Pfizer has set its FY 2025 guidance at 2.900-3.100 EPS. On average, research analysts anticipate that Pfizer Inc. will post 2.95 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on PFE. Wall Street Zen downgraded shares of Pfizer from a “buy” rating to a “hold” rating in a research report on Sunday, September 28th. UBS Group reissued a “neutral” rating and issued a $28.00 target price on shares of Pfizer in a report on Wednesday. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Pfizer in a report on Saturday, September 27th. Bank of America increased their price objective on Pfizer from $28.00 to $30.00 and gave the company a “neutral” rating in a report on Friday. Finally, Morgan Stanley boosted their target price on Pfizer from $32.00 to $33.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 6th. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Pfizer has an average rating of “Hold” and an average price target of $28.41.

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.