Pfizer (NYSE:PFE) Stock Price Up 0.4% – Still a Buy?

Pfizer Inc. (NYSE:PFE)’s stock price was up 0.4% during trading on Tuesday . The stock traded as high as $26.65 and last traded at $26.52. Approximately 5,689,494 shares changed hands during trading, a decline of 85% from the average daily volume of 38,739,730 shares. The stock had previously closed at $26.42.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Sanford C. Bernstein assumed coverage on Pfizer in a research note on Thursday, October 17th. They issued a “market perform” rating and a $32.00 price objective on the stock. StockNews.com cut shares of Pfizer from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, November 20th. Guggenheim dropped their price objective on shares of Pfizer from $35.00 to $33.00 and set a “buy” rating for the company in a research report on Wednesday, December 11th. 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. Finally, Bank of America reiterated a “neutral” rating and issued a $29.00 price target on shares of Pfizer in a report on Tuesday, December 10th. 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $32.14.

Pfizer Price Performance

The business’s 50 day simple moving average is $26.41 and its 200-day simple moving average is $28.08. The stock has a market capitalization of $150.35 billion, a price-to-earnings ratio of 35.85, a price-to-earnings-growth ratio of 0.63 and a beta of 0.65. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.73 and a current ratio of 1.00.

Pfizer (NYSE:PFE) last issued its quarterly earnings data 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. Pfizer had a return on equity of 16.28% and a net margin of 7.07%. The business had revenue of $17.70 billion during the quarter, compared to analyst estimates of $14.92 billion. During the same period in the prior year, the company posted ($0.17) EPS. The business’s revenue for the quarter was up 31.2% compared to the same quarter last year. Research analysts anticipate that Pfizer Inc. will post 2.95 earnings per share for the current year.

Pfizer Increases Dividend

The business 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 annualized dividend and a yield of 6.48%. This is an increase from Pfizer’s previous quarterly dividend of $0.42. Pfizer’s dividend payout ratio is presently 232.43%.

Insider Activity at Pfizer

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

Hedge Funds Weigh In On Pfizer

Several hedge funds have recently modified their holdings of PFE. Sachetta LLC lifted its holdings in Pfizer by 7.3% in the 2nd quarter. Sachetta LLC now owns 5,010 shares of the biopharmaceutical company’s stock valued at $140,000 after acquiring an additional 342 shares during the last quarter. Wells Trecaso Financial Group LLC raised its holdings in shares of Pfizer by 2.5% in 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 in the last quarter. Washington Trust Advisors Inc. lifted its stake in Pfizer by 0.7% during the third quarter. Washington Trust Advisors Inc. now owns 49,216 shares of the biopharmaceutical company’s stock valued at $1,424,000 after purchasing an additional 360 shares during the last quarter. Cullen Investment Group LTD. boosted its holdings in Pfizer by 0.9% during the third quarter. Cullen Investment Group LTD. now owns 42,677 shares of the biopharmaceutical company’s stock worth $1,235,000 after buying an additional 377 shares in the last quarter. Finally, MidWestOne Financial Group Inc. grew its position in Pfizer by 1.5% in the second quarter. MidWestOne Financial Group Inc. now owns 26,530 shares of the biopharmaceutical company’s stock worth $742,000 after buying an additional 386 shares during the last quarter. 68.36% of the stock is currently owned by institutional investors and hedge funds.

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.