Pfizer (NYSE:PFE) Trading Up 0.9% – Still a Buy?

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

Analyst Ratings Changes

Several analysts recently weighed in on the company. Wolfe Research assumed coverage on Pfizer in a research note on Friday, November 15th. They issued an “underperform” rating and a $25.00 price objective on the stock. Cantor Fitzgerald reiterated an “overweight” rating and set a $45.00 price objective on shares of Pfizer in a research report on Wednesday, October 23rd. StockNews.com lowered shares of Pfizer from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, November 20th. Bank of America reiterated a “neutral” rating and set a $29.00 price target on shares of Pfizer in a report on Tuesday, December 10th. Finally, Citigroup started coverage on Pfizer in a report on Friday, October 25th. They set a “neutral” rating and a $30.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, eight have assigned 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.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $32.00.

Pfizer Stock Performance

The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.73 and a current ratio of 1.00. The stock’s 50 day moving average price is $26.11 and its 200 day moving average price is $27.94. The company has a market capitalization of $147.89 billion, a P/E ratio of 35.27, a price-to-earnings-growth ratio of 0.64 and a beta of 0.64.

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

Pfizer Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, January 24th will be paid a $0.43 dividend. The ex-dividend date of this dividend is Friday, January 24th. This is a positive change from Pfizer’s previous quarterly dividend of $0.42. This represents a $1.72 annualized dividend and a yield of 6.59%. Pfizer’s payout ratio is 227.03%.

Insider Transactions at Pfizer

In other news, Director Scott Gottlieb bought 1,000 shares of Pfizer stock in a transaction dated Wednesday, October 30th. The stock was bought at an average cost of $28.24 per share, for a total transaction of $28,240.00. Following the purchase, the director now directly owns 10,000 shares in the company, valued at approximately $282,400. This 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 the SEC website. Insiders own 0.06% of the company’s stock.

Institutional Investors Weigh In On Pfizer

Hedge funds and other institutional investors have recently modified their holdings of the company. Fred Alger Management LLC raised its holdings in shares of Pfizer by 6.6% in the 2nd quarter. Fred Alger Management LLC now owns 95,592 shares of the biopharmaceutical company’s stock worth $2,675,000 after acquiring an additional 5,932 shares during the last quarter. Caxton Associates LP purchased a new position in shares of Pfizer during the second quarter valued at approximately $738,000. AQR Capital Management LLC grew its holdings in Pfizer by 1.6% during the second quarter. AQR Capital Management LLC now owns 612,429 shares of the biopharmaceutical company’s stock worth $17,068,000 after buying an additional 9,435 shares in the last quarter. Sender Co & Partners Inc. purchased a new stake in Pfizer in the 2nd quarter valued at $499,000. Finally, Smith Thornton Advisors LLC purchased a new position in Pfizer during the 2nd quarter worth $311,000. 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.