Pfizer (NYSE:PFE) Stock Price Up 0.1% – Should You Buy?

by · The Markets Daily

Pfizer Inc. (NYSE:PFE – Get Free Report) shares rose 0.1% during trading on Wednesday . The stock traded as high as $29.11 and last traded at $28.88. Approximately 4,628,443 shares changed hands during trading, a decline of 87% from the average daily volume of 36,842,398 shares. The stock had previously closed at $28.84.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on PFE shares. Barclays raised their price target on Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 31st. Wells Fargo & Company lifted their price target on Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 31st. Daiwa Capital Markets raised shares of Pfizer from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $28.00 to $34.00 in a research note on Wednesday, August 7th. StockNews.com raised shares of Pfizer from a “hold” rating to a “buy” rating in a report on Wednesday, October 9th. Finally, Daiwa America raised shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Seven analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $33.91.

Read Our Latest Stock Report on Pfizer

Pfizer Stock Down 0.1 %

The stock has a market capitalization of $163.31 billion, a price-to-earnings ratio of -481.00, a PEG ratio of 1.02 and a beta of 0.67. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.86 and a quick ratio of 0.60. The firm’s fifty day moving average is $29.07 and its 200-day moving average is $28.48.

Pfizer (NYSE:PFE – Get Free Report) last announced its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.14. The company had revenue of $13.28 billion for the quarter, compared to analysts’ expectations of $12.96 billion. Pfizer had a negative net margin of 4.66% and a positive return on equity of 8.42%. The business’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.67 EPS. On average, sell-side analysts predict that Pfizer Inc. will post 2.66 earnings per share for the current year.

Pfizer Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 8th will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 5.83%. The ex-dividend date is Friday, November 8th. Pfizer’s dividend payout ratio (DPR) is currently -2,800.00%.

Institutional Investors Weigh In On Pfizer

Institutional investors and hedge funds have recently made changes to their positions in the company. LGT Group Foundation lifted its position in Pfizer by 2.5% during the 2nd quarter. LGT Group Foundation now owns 742,875 shares of the biopharmaceutical company’s stock valued at $20,786,000 after purchasing an additional 18,274 shares during the period. Creative Planning boosted its stake in shares of Pfizer by 17.1% during the 3rd quarter. Creative Planning now owns 1,820,731 shares of the biopharmaceutical company’s stock worth $52,692,000 after buying an additional 266,167 shares during the last quarter. ORG Partners LLC lifted its stake in Pfizer by 1,729.9% in the 2nd quarter. ORG Partners LLC now owns 47,028 shares of the biopharmaceutical company’s stock valued at $1,327,000 after purchasing an additional 44,458 shares during the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd raised its holdings in Pfizer by 10.3% in the 3rd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 256,460 shares of the biopharmaceutical company’s stock valued at $7,422,000 after acquiring an additional 23,928 shares during the period. Finally, Everett Harris & Co. CA raised its holdings in Pfizer by 21.7% in the 3rd quarter. Everett Harris & Co. CA now owns 218,344 shares of the biopharmaceutical company’s stock valued at $6,319,000 after acquiring an additional 38,870 shares during the period. Institutional investors and hedge funds own 68.36% of the company’s stock.

Pfizer Company Profile

(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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