FARMERS & MERCHANTS TRUST Co OF LONG BEACH Sells 1,793 Shares of Pfizer Inc. (NYSE:PFE)

FARMERS & MERCHANTS TRUST Co OF LONG BEACH reduced its holdings in Pfizer Inc. (NYSE:PFE) by 3.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 53,356 shares of the biopharmaceutical company’s stock after selling 1,793 shares during the period. FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s holdings in Pfizer were worth $1,544,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Olistico Wealth LLC bought a new stake in shares of Pfizer in the 2nd quarter valued at $25,000. MFA Wealth Advisors LLC acquired a new position in Pfizer in the second quarter valued at about $29,000. Quarry LP bought a new stake in shares of Pfizer in the second quarter worth about $31,000. Creekmur Asset Management LLC bought a new stake in shares of Pfizer in the fourth quarter worth about $32,000. Finally, Trivant Custom Portfolio Group LLC raised its position in shares of Pfizer by 100.0% during the first quarter. Trivant Custom Portfolio Group LLC now owns 1,200 shares of the biopharmaceutical company’s stock worth $33,000 after purchasing an additional 600 shares during the period. 68.36% of the stock is owned by institutional investors.

Pfizer Price Performance

Pfizer stock opened at $29.15 on Friday. The stock has a market cap of $165.18 billion, a P/E ratio of -485.83, a P/E/G ratio of 1.30 and a beta of 0.67. The company has a quick ratio of 0.60, a current ratio of 0.86 and a debt-to-equity ratio of 0.65. The company’s 50 day moving average price is $29.04 and its two-hundred day moving average price is $28.38. Pfizer Inc. has a 52 week low of $25.20 and a 52 week high of $33.92.

Pfizer (NYSE:PFE) last announced its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported $0.60 EPS 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 business had revenue of $13.28 billion for the quarter, compared to analyst estimates of $12.96 billion. During the same quarter in the previous year, the firm posted $0.67 earnings per share. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. On average, equities analysts predict that Pfizer Inc. will post 2.66 earnings per share for the current year.

Pfizer Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be given a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 5.76%. The ex-dividend date is Friday, November 8th. Pfizer’s dividend payout ratio (DPR) is presently -2,800.00%.

Analyst Upgrades and Downgrades

PFE has been the subject of several research analyst reports. Daiwa America upgraded shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, August 7th. UBS Group increased their target price on Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Barclays boosted their price target on Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a report on Wednesday, July 31st. StockNews.com upgraded Pfizer from a “hold” rating to a “buy” rating in a report on Wednesday. Finally, Wells Fargo & Company boosted their target price on Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 31st. Eight research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Pfizer presently has an average rating of “Moderate Buy” and a consensus 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.