Pfizer (NYSE:PFE) Shares Up 2.6% – Time to Buy?

Pfizer Inc. (NYSE:PFE) shot up 2.6% during mid-day trading on Monday . The stock traded as high as $23.02 and last traded at $22.87. 29,416,652 shares traded hands during trading, a decline of 27% from the average session volume of 40,488,144 shares. The stock had previously closed at $22.28.

Analyst Ratings Changes

Several brokerages have issued reports on PFE. Citigroup restated a “neutral” rating on shares of Pfizer in a research note on Thursday, March 27th. Hsbc Global Res raised Pfizer to a “strong-buy” rating in a report on Monday, March 10th. Cantor Fitzgerald started coverage on Pfizer in a report on Tuesday, April 22nd. They set a “neutral” rating and a $24.00 target price for the company. Guggenheim reaffirmed a “buy” rating on shares of Pfizer in a report on Tuesday, March 18th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and set a $25.00 target price (down from $32.00) on shares of Pfizer in a report on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, four have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $29.17.

Pfizer Stock Performance

The company has a market cap of $131.25 billion, a P/E ratio of 16.37, a PEG ratio of 0.64 and a beta of 0.58. The company has a 50 day moving average price of $24.02 and a 200-day moving average price of $25.52. The company has a quick ratio of 0.73, a current ratio of 1.00 and a debt-to-equity ratio of 0.63.

Pfizer (NYSE:PFE) last announced its earnings results on Tuesday, April 29th. The biopharmaceutical company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.25. Pfizer had a return on equity of 19.47% and a net margin of 12.62%. The business had revenue of $13.72 billion during the quarter, compared to analysts’ expectations of $14.43 billion. During the same quarter last year, the business posted $0.82 earnings per share. The company’s quarterly revenue was down 7.8% on a year-over-year basis. Equities analysts expect that Pfizer Inc. will post 2.95 EPS for the current fiscal year.

Pfizer Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 9th will be given a $0.43 dividend. The ex-dividend date is Friday, May 9th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 7.45%. Pfizer’s dividend payout ratio (DPR) is 124.64%.

Insider Activity at Pfizer

In other Pfizer news, Director Ronald E. Blaylock acquired 19,457 shares of Pfizer stock in a transaction that occurred on Thursday, February 13th. The stock was purchased at an average cost of $25.65 per share, with a total value of $499,072.05. Following the purchase, the director now owns 27,707 shares in the company, valued at approximately $710,684.55. The trade was a 235.84% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.06% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Pfizer

Several hedge funds have recently bought and sold shares of PFE. Norges Bank purchased a new stake in Pfizer in the 4th quarter worth about $2,328,986,000. Charles Schwab Investment Management Inc. lifted its stake in Pfizer by 19.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 155,459,101 shares of the biopharmaceutical company’s stock worth $4,124,330,000 after acquiring an additional 25,315,159 shares in the last quarter. Pacer Advisors Inc. lifted its stake in Pfizer by 856.8% in the 1st quarter. Pacer Advisors Inc. now owns 20,053,828 shares of the biopharmaceutical company’s stock worth $508,164,000 after acquiring an additional 17,957,928 shares in the last quarter. Starboard Value LP purchased a new stake in shares of Pfizer during the 4th quarter worth about $407,730,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of Pfizer during the 4th quarter worth about $274,694,000. 68.36% of the stock is owned by hedge funds and other institutional investors.

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.