Chemung Canal Trust Co. Acquires 139,550 Shares of Pfizer Inc. (NYSE:PFE)

Chemung Canal Trust Co. lifted its position in shares of Pfizer Inc. (NYSE:PFE) by 208.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 206,403 shares of the biopharmaceutical company’s stock after purchasing an additional 139,550 shares during the period. Pfizer accounts for 1.2% of Chemung Canal Trust Co.’s portfolio, making the stock its 27th largest holding. Chemung Canal Trust Co.’s holdings in Pfizer were worth $5,973,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the company. Olistico Wealth LLC acquired a new position in shares of Pfizer during the 2nd quarter worth approximately $25,000. MFA Wealth Advisors LLC acquired a new position in shares of Pfizer during the 2nd quarter worth approximately $29,000. Quarry LP acquired a new position in shares of Pfizer during the 2nd quarter worth approximately $31,000. Creekmur Asset Management LLC bought a new stake in shares of Pfizer during the 4th quarter worth approximately $32,000. Finally, Trivant Custom Portfolio Group LLC lifted its holdings in shares of Pfizer by 100.0% during the 1st quarter. Trivant Custom Portfolio Group LLC now owns 1,200 shares of the biopharmaceutical company’s stock worth $33,000 after acquiring an additional 600 shares during the period. 68.36% of the stock is currently owned by institutional investors and hedge funds.

Pfizer Trading Up 0.5 %

Shares of PFE traded up $0.15 during trading hours on Friday, hitting $28.49. 8,512,716 shares of the stock were exchanged, compared to its average volume of 37,278,957. Pfizer Inc. has a fifty-two week low of $25.20 and a fifty-two week high of $33.92. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.86 and a quick ratio of 0.60. The business has a 50-day moving average of $29.21 and a 200-day moving average of $28.31. The firm has a market capitalization of $161.44 billion, a P/E ratio of -474.67, a price-to-earnings-growth ratio of 1.25 and a beta of 0.67.

Pfizer (NYSE:PFE) last posted its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.14. Pfizer had a negative net margin of 4.66% and a positive return on equity of 8.42%. The company had revenue of $13.28 billion during the quarter, compared to analysts’ expectations of $12.96 billion. During the same period in the prior year, the company posted $0.67 earnings per share. Pfizer’s revenue for the quarter was up 2.1% compared to the same quarter last year. On average, research analysts expect that Pfizer Inc. will post 2.66 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on PFE shares. Barclays upped their price target on shares of Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 31st. Daiwa Capital Markets raised shares of Pfizer from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $28.00 to $34.00 in a report on Wednesday, August 7th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $45.00 price target on shares of Pfizer in a report on Thursday. Daiwa America raised shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Finally, UBS Group upped their price target on shares of Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Nine investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $34.54.

Pfizer Company 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.