Pfizer (NYSE:PFE) Stock Price Up 2.3% – Still a Buy?

Pfizer Inc. (NYSE:PFE)’s share price shot up 2.3% during trading on Tuesday . The stock traded as high as $27.57 and last traded at $27.50. 11,456,110 shares were traded during trading, a decline of 62% from the average session volume of 29,811,535 shares. The stock had previously closed at $26.89.

Analysts Set New Price Targets

PFE has been the topic of a number of recent research reports. StockNews.com cut shares of Pfizer from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, November 20th. Truist Financial reduced their target price on shares of Pfizer from $36.00 to $32.00 and set a “buy” rating on the stock in a report on Wednesday, December 18th. Cantor Fitzgerald reissued an “overweight” rating and issued a $45.00 price target on shares of Pfizer in a research note on Wednesday, October 23rd. Bank of America reaffirmed a “neutral” rating and set a $29.00 price objective on shares of Pfizer in a research note 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 target price for the company. One analyst has rated the stock with a sell rating, eight have issued a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $32.00.

Pfizer Stock Down 0.8 %

The company’s fifty day simple moving average is $26.23 and its 200 day simple moving average is $28.06. The company has a current ratio of 1.00, a quick ratio of 0.73 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $152.56 billion, a P/E ratio of 36.38, a price-to-earnings-growth ratio of 0.63 and a beta of 0.64.

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. Research analysts expect that Pfizer Inc. will post 2.95 EPS for the current year.

Pfizer Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, January 24th will be paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 6.39%. The ex-dividend date of this dividend is Friday, January 24th. This is a boost from Pfizer’s previous quarterly dividend of $0.42. Pfizer’s dividend payout ratio (DPR) is presently 232.43%.

Insider Buying and Selling

In related news, Director Scott Gottlieb purchased 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The shares were bought at an average price of $28.24 per share, for a total transaction of $28,240.00. Following the purchase, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $282,400. This represents a 11.11 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.06% of the stock is owned by insiders.

Institutional Investors Weigh In On Pfizer

Several hedge funds have recently added to or reduced their stakes in the stock. State Street Corp boosted its stake in Pfizer by 1.2% in the 3rd quarter. State Street Corp now owns 290,460,600 shares of the biopharmaceutical company’s stock worth $8,405,930,000 after purchasing an additional 3,405,539 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Pfizer by 11.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 130,143,942 shares of the biopharmaceutical company’s stock worth $3,766,366,000 after buying an additional 12,864,343 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Pfizer by 1.6% during the third quarter. Geode Capital Management LLC now owns 117,666,245 shares of the biopharmaceutical company’s stock valued at $3,392,342,000 after buying an additional 1,855,419 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Pfizer by 3.2% during the second quarter. Massachusetts Financial Services Co. MA now owns 71,794,056 shares of the biopharmaceutical company’s stock valued at $2,008,798,000 after acquiring an additional 2,241,609 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Pfizer by 22.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 38,068,879 shares of the biopharmaceutical company’s stock worth $1,101,713,000 after acquiring an additional 6,977,587 shares during the last quarter. 68.36% of the stock is owned by 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.