Pfizer (NYSE:PFE) Shares Up 1.6% – Time to Buy?

Pfizer Inc. (NYSE:PFE)’s stock price shot up 1.6% during mid-day trading on Friday . The stock traded as high as $26.36 and last traded at $26.18. 15,926,336 shares traded hands during trading, a decline of 59% from the average session volume of 38,610,910 shares. The stock had previously closed at $25.77.

Analyst Ratings Changes

Several equities analysts have recently commented on PFE shares. Guggenheim lowered their price objective on Pfizer from $35.00 to $33.00 and set a “buy” rating on the stock in a research report on Wednesday, December 11th. Truist Financial lowered their price objective on Pfizer from $36.00 to $32.00 and set a “buy” rating on the stock in a research report on Wednesday. Wolfe Research started coverage on Pfizer in a research report on Friday, November 15th. They issued an “underperform” rating and a $25.00 price objective on the stock. Citigroup started coverage on Pfizer in a research report on Friday, October 25th. They issued a “neutral” rating and a $30.00 price objective on the stock. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $45.00 price objective on shares of Pfizer in a research report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, six have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $32.14.

Pfizer Stock Performance

The stock has a market cap of $149.38 billion, a P/E ratio of 35.62, a PEG ratio of 0.63 and a beta of 0.65. The business has a 50 day moving average price of $26.82 and a 200 day moving average price of $28.17. The company has a quick ratio of 0.73, a current ratio of 1.00 and a debt-to-equity ratio of 0.63.

Pfizer (NYSE:PFE) last released its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.42. The firm had revenue of $17.70 billion for the quarter, compared to analysts’ expectations of $14.92 billion. Pfizer had a return on equity of 16.28% and a net margin of 7.07%. The company’s quarterly revenue was up 31.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.17) earnings per share. As a group, sell-side analysts expect that Pfizer Inc. will post 2.95 EPS for the current year.

Pfizer Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, January 24th will be paid a dividend of $0.43 per share. This is a boost from Pfizer’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Friday, January 24th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 6.53%. Pfizer’s dividend payout ratio is currently 232.43%.

Insider Buying and Selling

In other news, Director Scott Gottlieb acquired 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The shares were bought at an average price of $28.24 per share, with a total value of $28,240.00. Following the completion of the purchase, the director now directly owns 10,000 shares in the company, valued at $282,400. This trade represents a 11.11 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.06% of the stock is owned by insiders.

Institutional Trading of Pfizer

Hedge funds have recently bought and sold shares of the stock. Gladius Capital Management LP lifted its holdings in Pfizer by 102.8% during the third quarter. Gladius Capital Management LP now owns 1,043 shares of the biopharmaceutical company’s stock worth $30,000 after buying an additional 38,015 shares during the period. Quarry LP purchased a new stake in shares of Pfizer during the 2nd quarter valued at $31,000. Financial Connections Group Inc. purchased a new stake in shares of Pfizer during the 2nd quarter valued at $34,000. Teachers Insurance & Annuity Association of America purchased a new stake in shares of Pfizer during the 3rd quarter valued at $35,000. Finally, Joseph Group Capital Management lifted its holdings in shares of Pfizer by 168.3% during the 3rd quarter. Joseph Group Capital Management now owns 1,229 shares of the biopharmaceutical company’s stock valued at $36,000 after purchasing an additional 771 shares during the last quarter. Hedge funds and other institutional investors own 68.36% of the company’s stock.

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.