Farmers Trust Co. Reduces Position in Pfizer Inc. (NYSE:PFE)

Farmers Trust Co. reduced its stake in Pfizer Inc. (NYSE:PFE) by 1.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 228,792 shares of the biopharmaceutical company’s stock after selling 4,532 shares during the quarter. Pfizer makes up approximately 1.2% of Farmers Trust Co.’s investment portfolio, making the stock its 20th biggest position. Farmers Trust Co.’s holdings in Pfizer were worth $6,621,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Wellington Management Group LLP boosted its holdings in Pfizer by 4.9% in the 4th quarter. Wellington Management Group LLP now owns 239,209,768 shares of the biopharmaceutical company’s stock worth $6,886,849,000 after buying an additional 11,099,024 shares during the period. Marshall Wace LLP raised its stake in Pfizer by 279.3% during the 2nd quarter. Marshall Wace LLP now owns 5,378,173 shares of the biopharmaceutical company’s stock valued at $150,481,000 after purchasing an additional 8,378,173 shares during the period. Swedbank AB purchased a new position in Pfizer in the 1st quarter worth approximately $172,902,000. Pzena Investment Management LLC boosted its stake in Pfizer by 181.6% in the 1st quarter. Pzena Investment Management LLC now owns 7,670,445 shares of the biopharmaceutical company’s stock worth $212,855,000 after purchasing an additional 4,947,000 shares during the period. Finally, FIL Ltd boosted its stake in Pfizer by 97.1% in the 4th quarter. FIL Ltd now owns 7,582,518 shares of the biopharmaceutical company’s stock worth $218,301,000 after purchasing an additional 3,734,595 shares during the period. 68.36% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on PFE. UBS Group raised their price target on Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Wells Fargo & Company raised their target price on shares of Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a report on Wednesday, July 31st. Barclays increased their price objective on shares of Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 31st. Daiwa America upgraded shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. Finally, StockNews.com lowered Pfizer from a “buy” rating to a “hold” rating in a research report on Tuesday. Nine equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Pfizer has a consensus rating of “Moderate Buy” and a consensus price target of $34.54.

Pfizer Stock Down 0.9 %

Shares of PFE stock opened at $28.35 on Friday. Pfizer Inc. has a fifty-two week low of $25.20 and a fifty-two week high of $34.08. The firm has a market capitalization of $160.65 billion, a PE ratio of -472.50, a P/E/G ratio of 1.25 and a beta of 0.67. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.60 and a current ratio of 0.86. The stock’s 50-day simple moving average is $29.21 and its 200-day simple moving average is $28.31.

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

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.