Pfizer (NYSE:PFE) Shares Up 1.3% – Time to Buy?

Pfizer Inc. (NYSE:PFE)’s share price shot up 1.3% during trading on Tuesday . The stock traded as high as $23.70 and last traded at $23.29. 19,535,057 shares were traded during trading, a decline of 52% from the average session volume of 40,822,202 shares. The stock had previously closed at $23.00.

Wall Street Analysts Forecast Growth

Several research firms have commented on PFE. Guggenheim reissued a “buy” rating on shares of Pfizer in a research report on Tuesday, March 18th. Cantor Fitzgerald assumed coverage on Pfizer in a research report on Tuesday, April 22nd. They set a “neutral” rating and a $24.00 price objective on the stock. The Goldman Sachs Group reiterated a “neutral” rating and issued a $25.00 price target (down from $32.00) on shares of Pfizer in a research report on Tuesday, April 8th. Citigroup reaffirmed a “neutral” rating on shares of Pfizer in a research note on Thursday, March 27th. Finally, UBS Group upped their price target on Pfizer from $24.00 to $25.00 and gave the company a “neutral” rating in a research note on Wednesday, April 30th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, four have issued a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $29.17.

Pfizer Trading Up 2.1%

The firm has a market cap of $133.52 billion, a P/E ratio of 16.64, a price-to-earnings-growth ratio of 0.64 and a beta of 0.58. The firm’s 50-day simple moving average is $23.60 and its 200 day simple moving average is $25.28. 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 (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.25. Pfizer had a net margin of 12.62% and a return on equity of 19.47%. The company had revenue of $13.72 billion during the quarter, compared to analyst estimates of $14.43 billion. During the same period in the previous year, the business earned $0.82 earnings per share. The firm’s quarterly revenue was down 7.8% compared to the same quarter last year. As a group, analysts expect that Pfizer Inc. will post 2.95 earnings per share for the current year.

Pfizer Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 9th will be issued a dividend of $0.43 per share. The ex-dividend date is Friday, May 9th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 7.32%. Pfizer’s dividend payout ratio (DPR) is 124.64%.

Institutional Investors Weigh In On Pfizer

A number of institutional investors have recently modified their holdings of PFE. Rialto Wealth Management LLC bought a new position in shares of Pfizer in the 4th quarter worth approximately $26,000. Clarity Asset Management Inc. purchased a new position in shares of Pfizer during the 4th quarter worth $27,000. Gould Capital LLC grew its position in shares of Pfizer by 97.2% during the 4th quarter. Gould Capital LLC now owns 1,000 shares of the biopharmaceutical company’s stock valued at $27,000 after acquiring an additional 493 shares during the period. GKV Capital Management Co. Inc. purchased a new stake in shares of Pfizer in the 1st quarter worth $27,000. Finally, Kohmann Bosshard Financial Services LLC bought a new position in Pfizer in the 4th quarter worth $28,000. 68.36% of the stock is owned by hedge funds and other 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.