Pfizer (NYSE:PFE) Shares Up 2% - Time to Buy?

Key Points

• Pfizer's shares rose by 2% on Wednesday, trading between $25.13 and $25.17, though trading volume decreased significantly to 12.6 million shares.
• Analyst ratings show a mixed sentiment on Pfizer, with eleven hold ratings, five buy ratings, and two strong buy ratings, leading to an average target price of $28.12.
• The company reported $0.78 earnings per share for the last quarter, exceeding estimates and resulting in a 10.3% year-over-year revenue increase to $14.65 billion.

Shares of Pfizer Inc. (NYSE:PFE - Get Free Report) shot up 2% on Wednesday . The company traded as high as $25.17 and last traded at $25.13. 12,593,052 shares changed hands during mid-day trading, a decline of 72% from the average session volume of 45,640,105 shares. The stock had previously closed at $24.65.

Analyst Ratings Changes

A number of research firms have weighed in on PFE. Berenberg Bank lowered their target price on Pfizer from $28.00 to $25.00 and set a "hold" rating on the stock in a report on Thursday, May 29th. TD Cowen decreased their price objective on Pfizer from $32.00 to $28.00 and set a "hold" rating on the stock in a research note on Tuesday, April 22nd. The Goldman Sachs Group raised their price objective on Pfizer from $25.00 to $27.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 30th. Jefferies Financial Group increased their target price on Pfizer from $32.00 to $33.00 and gave the stock a "buy" rating in a research report on Wednesday, May 21st. Finally, Citigroup increased their target price on Pfizer from $25.00 to $26.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 6th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $28.12.

Pfizer Trading Up 2.0%

The company has a 50 day moving average of $24.49 and a two-hundred day moving average of $24.47. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.85 and a current ratio of 1.16. The stock has a market capitalization of $142.93 billion, a PE ratio of 13.37, a P/E/G ratio of 0.88 and a beta of 0.52.

Pfizer (NYSE:PFE - Get Free Report) last announced its earnings results on Tuesday, August 5th. The biopharmaceutical company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.20. Pfizer had a return on equity of 21.42% and a net margin of 16.84%. The firm had revenue of $14.65 billion for the quarter, compared to the consensus estimate of $13.43 billion. During the same period in the previous year, the business earned $0.60 EPS. The firm's revenue for the quarter was up 10.3% on a year-over-year basis. Sell-side analysts predict that Pfizer Inc. will post 2.95 EPS for the current year.

Pfizer Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Friday, July 25th will be paid a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 6.8%. The ex-dividend date is Friday, July 25th. Pfizer's payout ratio is presently 91.49%.

Institutional Trading of Pfizer

Several large investors have recently added to or reduced their stakes in the company. CW Advisors LLC boosted its stake in shares of Pfizer by 34.2% in the second quarter. CW Advisors LLC now owns 708,407 shares of the biopharmaceutical company's stock worth $17,172,000 after buying an additional 180,608 shares during the last quarter. Acorns Advisers LLC boosted its stake in shares of Pfizer by 32.8% in the second quarter. Acorns Advisers LLC now owns 12,503 shares of the biopharmaceutical company's stock worth $303,000 after buying an additional 3,087 shares during the last quarter. JT Stratford LLC boosted its stake in shares of Pfizer by 72.4% in the second quarter. JT Stratford LLC now owns 17,521 shares of the biopharmaceutical company's stock worth $425,000 after buying an additional 7,359 shares during the last quarter. Argyle Capital Partners LLC boosted its stake in shares of Pfizer by 13.7% in the second quarter. Argyle Capital Partners LLC now owns 13,973 shares of the biopharmaceutical company's stock worth $339,000 after buying an additional 1,686 shares during the last quarter. Finally, Twin Peaks Wealth Advisors LLC purchased a new stake in shares of Pfizer in the second quarter worth about $134,000. Hedge funds and other institutional investors own 68.36% of the company's stock.

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.

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