Pfizer (NYSE:PFE) Stock Price Up 0.9% – Should You Buy?

Pfizer Inc. (NYSE:PFE)’s stock price rose 0.9% during mid-day trading on Thursday . The stock traded as high as $26.21 and last traded at $26.25. Approximately 9,038,566 shares traded hands during trading, a decline of 72% from the average daily volume of 32,665,531 shares. The stock had previously closed at $26.01.

Wall Street Analysts Forecast Growth

PFE has been the subject of several research analyst reports. Truist Financial lowered their price target on shares of Pfizer from $36.00 to $32.00 and set a “buy” rating for the company in a report on Wednesday, December 18th. Wolfe Research initiated coverage on shares of Pfizer in a research report on Friday, November 15th. They set an “underperform” rating and a $25.00 price objective on the stock. UBS Group cut their price objective on shares of Pfizer from $31.00 to $29.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Sanford C. Bernstein began coverage on shares of Pfizer in a research report on Thursday, October 17th. They set a “market perform” rating and a $32.00 price objective on the stock. Finally, Citigroup began coverage on shares of Pfizer in a report on Friday, October 25th. They issued a “neutral” rating and a $30.00 target price on the stock. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $32.00.

Pfizer Price Performance

The company has a quick ratio of 0.73, a current ratio of 1.00 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $149.24 billion, a PE ratio of 35.60, a price-to-earnings-growth ratio of 0.64 and a beta of 0.64. The firm’s 50-day moving average is $26.07 and its 200-day moving average is $27.96.

Pfizer (NYSE:PFE) last released its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.42. The company had revenue of $17.70 billion during the quarter, compared to the consensus estimate of $14.92 billion. Pfizer had a net margin of 7.07% and a return on equity of 16.28%. Pfizer’s revenue was up 31.2% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.17) earnings per share. Equities analysts predict that Pfizer Inc. will post 2.94 earnings per share for the current fiscal year.

Pfizer Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, January 24th will be given a dividend of $0.43 per share. This is an increase from Pfizer’s previous quarterly dividend of $0.42. The ex-dividend date is Friday, January 24th. This represents a $1.72 dividend on an annualized basis and a yield of 6.53%. Pfizer’s dividend payout ratio is 227.03%.

Insider Activity at Pfizer

In other Pfizer news, Director Scott Gottlieb purchased 1,000 shares of the firm’s stock in a transaction on Wednesday, October 30th. The shares were acquired at an average cost of $28.24 per share, for a total transaction of $28,240.00. Following the completion of the transaction, the director now owns 10,000 shares of the company’s stock, valued at approximately $282,400. The trade was a 11.11 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.06% of the stock is owned by insiders.

Hedge Funds Weigh In On Pfizer

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Capital Investment Advisory Services LLC grew its stake in shares of Pfizer by 76.2% in the 4th quarter. Capital Investment Advisory Services LLC now owns 200,570 shares of the biopharmaceutical company’s stock worth $5,321,000 after buying an additional 86,726 shares in the last quarter. Westhampton Capital LLC boosted its stake in shares of Pfizer by 1.2% during the 4th quarter. Westhampton Capital LLC now owns 42,178 shares of the biopharmaceutical company’s stock worth $1,119,000 after purchasing an additional 500 shares during the period. Synergy Asset Management LLC purchased a new position in shares of Pfizer during the 4th quarter worth about $63,000. Drystone LLC bought a new stake in Pfizer during the 4th quarter valued at about $3,868,000. Finally, Gries Financial LLC lifted its holdings in Pfizer by 6.8% during the 4th quarter. Gries Financial LLC now owns 29,246 shares of the biopharmaceutical company’s stock valued at $776,000 after buying an additional 1,853 shares in the last quarter. 68.36% of the stock is owned by hedge funds and other institutional investors.

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.