Pfizer (NYSE:PFE) Shares Up 2.7% - Still a Buy?

Pfizer Inc. (NYSE:PFE - Get Free Report)'s share price shot up 2.7% on Tuesday . The company traded as high as $25.93 and last traded at $25.92. 10,887,837 shares were traded during mid-day trading, a decline of 74% from the average session volume of 41,582,363 shares. The stock had previously closed at $25.24.

Analyst Ratings Changes

A number of research firms recently weighed in on PFE. TD Cowen decreased their price target 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 lifted their price objective on Pfizer from $25.00 to $27.00 and gave the stock a "neutral" rating in a report on Wednesday, April 30th. Redburn Atlantic reduced their price objective on Pfizer from $29.00 to $27.00 and set a "neutral" rating for the company in a report on Wednesday, April 30th. Cantor Fitzgerald began coverage on Pfizer in a report on Tuesday, April 22nd. They set a "neutral" rating and a $24.00 price objective for the company. Finally, Bank of America lifted their price objective on Pfizer from $26.00 to $27.00 and gave the stock a "neutral" rating in a report on Wednesday, April 30th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, six have given a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $28.55.

Pfizer Price Performance

The company has a 50 day moving average of $23.76 and a 200 day moving average of $24.81. The company has a quick ratio of 0.96, a current ratio of 1.26 and a debt-to-equity ratio of 0.64. The stock has a market capitalization of $145.49 billion, a price-to-earnings ratio of 18.54, a price-to-earnings-growth ratio of 0.92 and a beta of 0.58.

Pfizer (NYSE:PFE - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The biopharmaceutical company reported $0.92 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.67 by $0.25. Pfizer had a return on equity of 20.33% and a net margin of 12.62%. The firm had revenue of $13.72 billion during the quarter, compared to the consensus estimate of $14.43 billion. During the same quarter 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, equities research analysts forecast that Pfizer Inc. will post 2.95 EPS for the current fiscal year.

Pfizer Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Friday, July 25th will be given a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 6.72%. The ex-dividend date of this dividend is Friday, July 25th. Pfizer's payout ratio is 124.64%.

Institutional Investors Weigh In On Pfizer

Several institutional investors and hedge funds have recently modified their holdings of the stock. Canandaigua National Trust Co of Florida lifted its stake in shares of Pfizer by 135.6% in the second quarter. Canandaigua National Trust Co of Florida now owns 36,317 shares of the biopharmaceutical company's stock worth $880,000 after acquiring an additional 20,901 shares in the last quarter. Canandaigua National Bank & Trust Co. lifted its stake in shares of Pfizer by 15.5% in the second quarter. Canandaigua National Bank & Trust Co. now owns 218,881 shares of the biopharmaceutical company's stock worth $5,306,000 after acquiring an additional 29,392 shares in the last quarter. Livelsberger Financial Advisory acquired a new position in shares of Pfizer in the second quarter worth about $108,000. Goldstone Financial Group LLC lifted its stake in shares of Pfizer by 53.8% in the second quarter. Goldstone Financial Group LLC now owns 25,241 shares of the biopharmaceutical company's stock worth $641,000 after acquiring an additional 8,832 shares in the last quarter. Finally, Boltwood Capital Management lifted its stake in shares of Pfizer by 2.1% in the second quarter. Boltwood Capital Management now owns 57,854 shares of the biopharmaceutical company's stock worth $1,402,000 after acquiring an additional 1,205 shares in the last quarter. Hedge funds and other institutional investors own 68.36% of the company's stock.

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.

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