Pfizer (NYSE:PFE) Trading Up 0.6% – Should You Buy?

Pfizer Inc. (NYSE:PFE)’s share price shot up 0.6% on Wednesday . The stock traded as high as $29.77 and last traded at $29.62. 5,320,130 shares changed hands during trading, a decline of 86% from the average session volume of 37,117,176 shares. The stock had previously closed at $29.44.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Daiwa America raised Pfizer from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, August 7th. UBS Group upped their target price on Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Cantor Fitzgerald reiterated an “overweight” rating and issued a $45.00 target price on shares of Pfizer in a research note on Thursday, October 3rd. Wells Fargo & Company upped their price objective on shares of Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 31st. Finally, Daiwa Capital Markets raised Pfizer from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $28.00 to $34.00 in a report on Wednesday, August 7th. Eight investment 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 data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $34.54.

Pfizer Price Performance

The company’s 50 day simple moving average is $29.02 and its 200 day simple moving average is $28.41. The stock has a market capitalization of $168.64 billion, a PE ratio of -496.00, a PEG ratio of 1.30 and a beta of 0.67. The company has a current ratio of 0.86, a quick ratio of 0.60 and a debt-to-equity ratio of 0.65.

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

Pfizer Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be given a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 5.65%. The ex-dividend date is Friday, November 8th. Pfizer’s dividend payout ratio (DPR) is presently -2,800.00%.

Institutional Trading of Pfizer

Hedge funds have recently made changes to their positions in the company. FAS Wealth Partners Inc. raised its holdings in Pfizer by 1.3% in the second quarter. FAS Wealth Partners Inc. now owns 26,306 shares of the biopharmaceutical company’s stock valued at $736,000 after acquiring an additional 342 shares in the last quarter. Sachetta LLC boosted its holdings in shares of Pfizer by 7.3% during the second quarter. Sachetta LLC now owns 5,010 shares of the biopharmaceutical company’s stock worth $140,000 after purchasing an additional 342 shares during the period. Ironvine Capital Partners LLC lifted its stake in Pfizer by 2.1% in the first quarter. Ironvine Capital Partners LLC now owns 16,953 shares of the biopharmaceutical company’s stock valued at $470,000 after acquiring an additional 353 shares during the last quarter. Secure Asset Management LLC boosted its holdings in Pfizer by 0.6% in the second quarter. Secure Asset Management LLC now owns 58,328 shares of the biopharmaceutical company’s stock worth $1,632,000 after purchasing an additional 353 shares in the last quarter. Finally, Patrick M Sweeney & Associates Inc. increased its position in Pfizer by 0.8% during the second quarter. Patrick M Sweeney & Associates Inc. now owns 42,162 shares of the biopharmaceutical company’s stock worth $1,180,000 after buying an additional 355 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.