Pfizer (NYSE:PFE) Stock Price Up 1.9% – Should You Buy?

Pfizer Inc. (NYSE:PFE) shares traded up 1.9% during mid-day trading on Tuesday . The stock traded as high as $29.74 and last traded at $29.64. 7,338,895 shares were traded during trading, a decline of 80% from the average session volume of 37,173,520 shares. The stock had previously closed at $29.08.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Wells Fargo & Company increased their target price on Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 31st. Daiwa Capital Markets raised Pfizer from a “neutral” rating to an “outperform” rating and increased their price target for the company from $28.00 to $34.00 in a research report on Wednesday, August 7th. Barclays increased their price target on Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 31st. StockNews.com raised Pfizer from a “hold” rating to a “buy” rating in a research report on Wednesday, October 9th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $45.00 price target on shares of Pfizer in a research report on Thursday, October 3rd. Seven analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Pfizer currently has a consensus rating of “Moderate Buy” and an average target price of $33.91.

Pfizer Stock Down 1.3 %

The firm has a 50 day simple moving average of $29.04 and a two-hundred day simple moving average of $28.42. The company has a market capitalization of $165.89 billion, a PE ratio of -489.17, a P/E/G ratio of 1.30 and a beta of 0.67. The company has a current ratio of 0.86, a quick ratio of 0.60 and a debt-to-equity ratio of 0.65.

Pfizer (NYSE:PFE) last announced its earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.14. The company had revenue of $13.28 billion for the quarter, compared to the consensus estimate of $12.96 billion. Pfizer had a positive return on equity of 8.42% and a negative net margin of 4.66%. The company’s revenue was up 2.1% on a year-over-year basis. During the same period last year, the business posted $0.67 EPS. Research analysts expect that Pfizer Inc. will post 2.66 EPS for the current year.

Pfizer Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be issued a $0.42 dividend. The ex-dividend date is Friday, November 8th. This represents a $1.68 annualized dividend and a dividend yield of 5.74%. Pfizer’s dividend payout ratio is currently -2,800.00%.

Institutional Trading of Pfizer

Hedge funds have recently modified their holdings of the business. Olistico Wealth LLC acquired a new stake in shares of Pfizer in the 2nd quarter valued at approximately $25,000. MFA Wealth Advisors LLC acquired a new position in Pfizer during the second quarter worth $29,000. Quarry LP acquired a new position in Pfizer during the second quarter worth $31,000. Trivant Custom Portfolio Group LLC raised its holdings in Pfizer by 100.0% during the first quarter. Trivant Custom Portfolio Group LLC now owns 1,200 shares of the biopharmaceutical company’s stock worth $33,000 after purchasing an additional 600 shares during the last quarter. Finally, Financial Connections Group Inc. acquired a new position in Pfizer during the second quarter worth $34,000. 68.36% of the stock is owned by institutional investors and hedge funds.

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.