Pfizer (NYSE:PFE) Trading Up 0.4% – Time to Buy?

by · The Markets Daily

Shares of Pfizer Inc. (NYSE:PFE – Get Free Report) traded up 0.4% during trading on Thursday . The stock traded as high as $26.09 and last traded at $25.99. 10,202,379 shares traded hands during trading, a decline of 74% from the average session volume of 38,546,367 shares. The stock had previously closed at $25.89.

Analyst Ratings Changes

PFE has been the subject of a number of recent analyst reports. StockNews.com cut Pfizer from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, November 20th. Sanford C. Bernstein started coverage on Pfizer in a report on Thursday, October 17th. They issued a “market perform” rating and a $32.00 price objective on the stock. Wolfe Research initiated coverage on Pfizer in a report on Friday, November 15th. They set an “underperform” rating and a $25.00 target price for the company. Guggenheim lowered their price target on Pfizer from $35.00 to $33.00 and set a “buy” rating on the stock in a research note on Wednesday, December 11th. Finally, Evercore ISI raised shares of Pfizer to a “strong-buy” rating in a research note on Wednesday, October 30th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Pfizer has a consensus rating of “Moderate Buy” and an average target price of $32.14.

Get Our Latest Analysis on Pfizer

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 cap of $149.38 billion, a price-to-earnings ratio of 35.62, a PEG ratio of 0.63 and a beta of 0.65. The stock’s 50-day simple moving average is $26.82 and its 200 day simple moving average is $28.18.

Pfizer (NYSE:PFE – Get Free Report) last posted its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.42. Pfizer had a net margin of 7.07% and a return on equity of 16.28%. The firm had revenue of $17.70 billion during the quarter, compared to the consensus estimate of $14.92 billion. During the same quarter last year, the firm earned ($0.17) EPS. The firm’s revenue for the quarter was up 31.2% on a year-over-year basis. On average, equities research analysts anticipate that Pfizer Inc. will post 2.95 EPS for the current fiscal year.

Pfizer Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, January 24th will be issued a $0.43 dividend. The ex-dividend date is Friday, January 24th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 6.53%. This is a boost from Pfizer’s previous quarterly dividend of $0.42. Pfizer’s payout ratio is 232.43%.

Insiders Place Their Bets

In related news, Director Scott Gottlieb purchased 1,000 shares of Pfizer stock in a transaction on Wednesday, October 30th. The shares were bought at an average price of $28.24 per share, with a total value of $28,240.00. Following the transaction, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $282,400. This trade represents a 11.11 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.06% of the stock is owned by company insiders.

Institutional Trading of Pfizer

Several hedge funds have recently added to or reduced their stakes in the company. Gladius Capital Management LP raised its holdings in shares of Pfizer by 102.8% in the 3rd quarter. Gladius Capital Management LP now owns 1,043 shares of the biopharmaceutical company’s stock valued at $30,000 after purchasing an additional 38,015 shares in the last quarter. Quarry LP acquired a new stake in Pfizer in the second quarter valued at $31,000. Financial Connections Group Inc. purchased a new stake in Pfizer during the 2nd quarter worth about $34,000. Teachers Insurance & Annuity Association of America acquired a new position in shares of Pfizer during the 3rd quarter worth about $35,000. Finally, Joseph Group Capital Management increased its holdings in shares of Pfizer by 168.3% in the 3rd quarter. Joseph Group Capital Management now owns 1,229 shares of the biopharmaceutical company’s stock valued at $36,000 after acquiring an additional 771 shares during the last quarter. Institutional investors and hedge funds own 68.36% of the company’s stock.

About Pfizer

(Get Free Report)

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.

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