Farmers & Merchants Investments Inc. Has $5.63 Million Position in Pfizer Inc. (NYSE:PFE)

Farmers & Merchants Investments Inc. lowered its holdings in shares of Pfizer Inc. (NYSE:PFE) by 8.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 202,989 shares of the biopharmaceutical company’s stock after selling 17,896 shares during the quarter. Farmers & Merchants Investments Inc.’s holdings in Pfizer were worth $5,633,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Teza Capital Management LLC acquired a new stake in Pfizer in the 3rd quarter valued at approximately $347,000. Hodges Capital Management Inc. acquired a new stake in Pfizer in the 3rd quarter valued at approximately $203,000. Axxcess Wealth Management LLC raised its position in Pfizer by 178.3% in the 3rd quarter. Axxcess Wealth Management LLC now owns 181,425 shares of the biopharmaceutical company’s stock valued at $6,018,000 after buying an additional 116,243 shares during the last quarter. Adage Capital Partners GP L.L.C. raised its position in Pfizer by 40.5% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 4,739,672 shares of the biopharmaceutical company’s stock valued at $157,215,000 after buying an additional 1,365,295 shares during the last quarter. Finally, Ellerson Group Inc. ADV raised its position in Pfizer by 28.3% in the 3rd quarter. Ellerson Group Inc. ADV now owns 14,310 shares of the biopharmaceutical company’s stock valued at $475,000 after buying an additional 3,160 shares during the last quarter. Institutional investors and hedge funds own 68.36% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on PFE shares. Morgan Stanley lifted their target price on Pfizer from $28.00 to $29.00 and gave the company an “equal weight” rating in a research report on Thursday, May 2nd. Cantor Fitzgerald restated an “overweight” rating and issued a $45.00 price target on shares of Pfizer in a research note on Wednesday, June 26th. Argus downgraded Pfizer from a “buy” rating to a “hold” rating in a research note on Friday, March 22nd. Finally, BMO Capital Markets restated an “outperform” rating and issued a $36.00 price target (up from $33.00) on shares of Pfizer in a research note on Thursday, May 2nd. Nine research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Pfizer currently has an average rating of “Hold” and a consensus target price of $35.54.

Pfizer Stock Performance

Shares of NYSE PFE opened at $27.83 on Wednesday. The company has a current ratio of 1.05, a quick ratio of 0.78 and a debt-to-equity ratio of 0.66. Pfizer Inc. has a 12 month low of $25.20 and a 12 month high of $37.80. The stock has a 50 day moving average of $27.93 and a 200-day moving average of $27.70. The company has a market capitalization of $157.70 billion, a P/E ratio of -463.76, a P/E/G ratio of 1.10 and a beta of 0.69.

Pfizer (NYSE:PFE) last released its quarterly earnings results on Wednesday, May 1st. The biopharmaceutical company reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.26. The business had revenue of $14.88 billion during the quarter, compared to the consensus estimate of $13.87 billion. Pfizer had a positive return on equity of 8.64% and a negative net margin of 0.56%. The firm’s quarterly revenue was down 19.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.23 EPS. As a group, equities research analysts predict that Pfizer Inc. will post 2.38 EPS for the current year.

Pfizer Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Friday, July 26th will be paid a $0.42 dividend. The ex-dividend date of this dividend is Thursday, July 25th. This represents a $1.68 annualized dividend and a yield of 6.04%. Pfizer’s dividend payout ratio (DPR) is presently -2,799.53%.

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.