Pfizer (NYSE:PFE) Trading Up 0.7% – Still a Buy?

Pfizer Inc. (NYSE:PFE) shares traded up 0.7% on Wednesday . The company traded as high as $26.18 and last traded at $25.92. 10,568,725 shares were traded during mid-day trading, a decline of 73% from the average session volume of 38,627,828 shares. The stock had previously closed at $25.75.

Analyst Ratings Changes

A number of analysts have recently issued reports on PFE shares. Guggenheim reissued a “buy” rating and issued a $33.00 price objective on shares of Pfizer in a research note on Monday, February 10th. Wolfe Research began coverage on Pfizer in a report on Friday, November 15th. They set an “underperform” rating and a $25.00 price target on the stock. StockNews.com cut Pfizer from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, November 20th. Bank of America reissued a “neutral” rating and issued a $29.00 price target on shares of Pfizer in a report on Tuesday, December 10th. Finally, Citigroup reduced their price objective on shares of Pfizer from $30.00 to $29.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $31.92.

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 business has a 50-day moving average of $26.30 and a 200-day moving average of $27.26. The company has a market capitalization of $151.35 billion, a P/E ratio of 18.94, a P/E/G ratio of 0.64 and a beta of 0.61.

Pfizer (NYSE:PFE) last released its quarterly earnings results on Tuesday, February 4th. The biopharmaceutical company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.15. Pfizer had a net margin of 12.62% and a return on equity of 19.47%. The firm had revenue of $17.76 billion during the quarter, compared to analysts’ expectations of $17.26 billion. During the same period in the previous year, the company earned $0.10 EPS. The firm’s revenue for the quarter was up 24.7% compared to the same quarter last year. On average, sell-side analysts anticipate 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 given a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 6.44%. This is an increase from Pfizer’s previous quarterly dividend of $0.42. The ex-dividend date is Friday, January 24th. Pfizer’s dividend payout ratio (DPR) is 121.99%.

Insider Activity

In other news, Director Ronald E. Blaylock acquired 19,457 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The shares were bought at an average price of $25.65 per share, with a total value of $499,072.05. Following the completion of the purchase, the director now directly owns 27,707 shares in the company, valued at $710,684.55. This trade represents a 235.84 % 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. Insiders own 0.06% of the company’s stock.

Institutional Investors Weigh In On Pfizer

Hedge funds have recently made changes to their positions in the company. Swedbank AB boosted its stake in shares of Pfizer by 0.7% during the third quarter. Swedbank AB now owns 5,745,831 shares of the biopharmaceutical company’s stock valued at $166,284,000 after purchasing an additional 37,636 shares in the last quarter. Moloney Securities Asset Management LLC boosted its position in Pfizer by 37.8% during the 3rd quarter. Moloney Securities Asset Management LLC now owns 21,086 shares of the biopharmaceutical company’s stock valued at $610,000 after acquiring an additional 5,785 shares in the last quarter. Avidian Wealth Enterprises LLC increased its holdings in shares of Pfizer by 4.2% in the 3rd quarter. Avidian Wealth Enterprises LLC now owns 22,320 shares of the biopharmaceutical company’s stock valued at $646,000 after acquiring an additional 897 shares during the period. Catalina Capital Group LLC raised its position in shares of Pfizer by 39.7% in the 3rd quarter. Catalina Capital Group LLC now owns 11,013 shares of the biopharmaceutical company’s stock worth $319,000 after acquiring an additional 3,127 shares in the last quarter. Finally, Harvest Portfolios Group Inc. lifted its stake in shares of Pfizer by 13.1% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 70,900 shares of the biopharmaceutical company’s stock worth $2,052,000 after purchasing an additional 8,200 shares during the last quarter. 68.36% of the stock is currently 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.