Pfizer (NYSE:PFE) Shares Up 2.4% – Should You Buy?

Pfizer Inc. (NYSE:PFE)’s stock price shot up 2.4% during trading on Monday . The stock traded as high as $26.37 and last traded at $26.34. 9,734,555 shares changed hands during mid-day trading, a decline of 75% from the average session volume of 38,380,406 shares. The stock had previously closed at $25.73.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on PFE shares. Bank of America reiterated a “neutral” rating and set a $29.00 price objective on shares of Pfizer in a research report on Tuesday. Citigroup assumed coverage on Pfizer in a research report on Friday, October 25th. They set a “neutral” rating and a $30.00 price target for the company. StockNews.com lowered Pfizer from a “strong-buy” rating to a “buy” rating in a report on Wednesday, November 20th. Wolfe Research assumed coverage on shares of Pfizer in a report on Friday, November 15th. They issued an “underperform” rating and a $25.00 price objective for the company. Finally, Evercore ISI raised shares of Pfizer to a “strong-buy” rating in a research note on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $32.64.

Pfizer Stock Performance

The company has a debt-to-equity ratio of 0.63, a current ratio of 1.00 and a quick ratio of 0.73. The firm has a market capitalization of $144.96 billion, a PE ratio of 34.57, a P/E/G ratio of 0.71 and a beta of 0.65. The firm has a fifty day moving average price of $27.42 and a 200 day moving average price of $28.36.

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, beating analysts’ consensus estimates of $0.64 by $0.42. Pfizer had a net margin of 7.07% and a return on equity of 16.28%. The business had revenue of $17.70 billion for the quarter, compared to analyst estimates of $14.92 billion. During the same quarter in the previous year, the business earned ($0.17) earnings per share. The firm’s revenue was up 31.2% compared to the same quarter last year. Research analysts anticipate that Pfizer Inc. will post 2.96 earnings per share for the current fiscal year.

Pfizer Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Friday, November 8th were given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 6.57%. The ex-dividend date of this dividend was Friday, November 8th. Pfizer’s payout ratio is 227.03%.

Insiders Place Their Bets

In related news, Director Scott Gottlieb purchased 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The stock was acquired at an average cost of $28.24 per share, for a total transaction of $28,240.00. Following the completion of the acquisition, the director now owns 10,000 shares in the company, valued at $282,400. This trade represents a 11.11 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.06% of the company’s stock.

Institutional Investors Weigh In On Pfizer

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PFE. FAS Wealth Partners Inc. grew its stake in shares of Pfizer by 1.3% in the 2nd quarter. FAS Wealth Partners Inc. now owns 26,306 shares of the biopharmaceutical company’s stock valued at $736,000 after buying an additional 342 shares in the last quarter. Sachetta LLC grew its position in Pfizer by 7.3% in the second quarter. Sachetta LLC now owns 5,010 shares of the biopharmaceutical company’s stock worth $140,000 after acquiring an additional 342 shares in the last quarter. Wells Trecaso Financial Group LLC increased its stake in shares of Pfizer by 2.5% during the 3rd quarter. Wells Trecaso Financial Group LLC now owns 14,361 shares of the biopharmaceutical company’s stock worth $416,000 after purchasing an additional 350 shares during the last quarter. Secure Asset Management LLC raised its holdings in shares of Pfizer by 0.6% during the 2nd quarter. Secure Asset Management LLC now owns 58,328 shares of the biopharmaceutical company’s stock valued at $1,632,000 after purchasing an additional 353 shares in the last quarter. Finally, Continuum Advisory LLC lifted its stake in shares of Pfizer by 1.5% in the 2nd quarter. Continuum Advisory LLC now owns 25,185 shares of the biopharmaceutical company’s stock valued at $705,000 after purchasing an additional 360 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.