Farmers Trust Co. Sells 655 Shares of Pfizer Inc. (NYSE:PFE)

Farmers Trust Co. trimmed its stake in Pfizer Inc. (NYSE:PFE) by 0.3% during the 1st quarter, HoldingsChannel reports. The fund owned 225,393 shares of the biopharmaceutical company’s stock after selling 655 shares during the quarter. Farmers Trust Co.’s holdings in Pfizer were worth $5,711,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Rialto Wealth Management LLC bought a new stake in Pfizer in the fourth quarter worth $26,000. Clarity Asset Management Inc. bought a new stake in Pfizer in the fourth quarter worth $27,000. Gould Capital LLC boosted its holdings in Pfizer by 97.2% in the fourth quarter. Gould Capital LLC now owns 1,000 shares of the biopharmaceutical company’s stock worth $27,000 after acquiring an additional 493 shares in the last quarter. Kohmann Bosshard Financial Services LLC bought a new stake in Pfizer in the fourth quarter worth $28,000. Finally, Bernard Wealth Management Corp. bought a new stake in Pfizer in the fourth quarter worth $30,000. 68.36% of the stock is owned by institutional investors.

Pfizer Stock Up 1.1%

PFE stock opened at $23.44 on Friday. Pfizer Inc. has a fifty-two week low of $20.92 and a fifty-two week high of $31.54. The business’s 50-day moving average is $23.16 and its two-hundred day moving average is $25.09. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.73 and a current ratio of 1.00. The company has a market cap of $133.26 billion, a price-to-earnings ratio of 16.62, a P/E/G ratio of 0.64 and a beta of 0.58.

Pfizer (NYSE:PFE) last posted its earnings results on Tuesday, April 29th. The biopharmaceutical company reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.25. Pfizer had a return on equity of 19.47% and a net margin of 12.62%. The company had revenue of $13.72 billion for the quarter, compared to the consensus estimate of $14.43 billion. During the same quarter in the prior year, the company earned $0.82 earnings per share. Pfizer’s revenue was down 7.8% on a year-over-year basis. As a group, analysts forecast that Pfizer Inc. will post 2.95 earnings per share for the current year.

Pfizer Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 9th will be issued a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 7.34%. The ex-dividend date is Friday, May 9th. Pfizer’s dividend payout ratio is 124.64%.

Analysts Set New Price Targets

Several equities research analysts have commented on PFE shares. Cantor Fitzgerald started coverage on Pfizer in a report on Tuesday, April 22nd. They issued a “neutral” rating and a $24.00 target price on the stock. Guggenheim reaffirmed a “buy” rating on shares of Pfizer in a report on Tuesday, March 18th. Hsbc Global Res raised Pfizer to a “strong-buy” rating in a report on Monday, March 10th. UBS Group upped their price target on Pfizer from $24.00 to $25.00 and gave the company a “neutral” rating in a report on Wednesday, April 30th. Finally, Citigroup reaffirmed a “neutral” rating on shares of Pfizer in a report on Thursday, March 27th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, four have issued a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $29.17.

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.