Pfizer (NYSE:PFE) Trading 1.2% Higher - Time to Buy?

Shares of Pfizer Inc. (NYSE:PFE - Get Free Report) were up 1.2% during trading on Tuesday . The company traded as high as $24.30 and last traded at $24.27. Approximately 10,021,471 shares traded hands during mid-day trading, a decline of 76% from the average daily volume of 40,904,482 shares. The stock had previously closed at $23.97.

Wall Street Analysts Forecast Growth

Several analysts have commented on PFE shares. UBS Group lifted their price objective on shares of Pfizer from $24.00 to $25.00 and gave the company a "neutral" rating in a research note on Wednesday, April 30th. Cantor Fitzgerald assumed coverage on shares of Pfizer in a research note on Tuesday, April 22nd. They issued a "neutral" rating and a $24.00 target price for the company. Hsbc Global Res upgraded shares of Pfizer to a "strong-buy" rating in a research note on Monday, March 10th. The Goldman Sachs Group reissued a "neutral" rating and issued a $25.00 price target (down previously from $32.00) on shares of Pfizer in a report on Tuesday, April 8th. Finally, Guggenheim reissued a "buy" rating on shares of Pfizer in a report on Tuesday, March 18th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, four have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $29.17.

Pfizer Stock Up 0.8%

The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.73 and a current ratio of 1.00. The firm has a market cap of $140.26 billion, a PE ratio of 17.50, a PEG ratio of 0.64 and a beta of 0.57. The stock has a fifty day moving average price of $22.96 and a 200-day moving average price of $24.98.

Pfizer (NYSE:PFE - Get Free Report) last announced its 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 19.47% and a net margin of 12.62%. The company had revenue of $13.72 billion for the quarter, compared to analyst estimates of $14.43 billion. During the same period in the prior year, the company posted $0.82 EPS. Pfizer's quarterly revenue was down 7.8% on a year-over-year basis. Research analysts expect 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 Friday, June 13th. Investors of record on Friday, May 9th will be given a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 6.97%. The ex-dividend date of this dividend is Friday, May 9th. Pfizer's dividend payout ratio is currently 124.64%.

Institutional Investors Weigh In On Pfizer

Several institutional investors and hedge funds have recently made changes to their positions in PFE. Rialto Wealth Management LLC bought a new position in shares of Pfizer in the fourth quarter worth $26,000. Clarity Asset Management Inc. acquired a new stake in shares of Pfizer in the fourth quarter valued at $27,000. Gould Capital LLC lifted its holdings in shares of Pfizer by 97.2% in the fourth quarter. Gould Capital LLC now owns 1,000 shares of the biopharmaceutical company's stock valued at $27,000 after buying an additional 493 shares during the period. GKV Capital Management Co. Inc. purchased a new position in Pfizer in the 1st quarter worth about $27,000. Finally, Kohmann Bosshard Financial Services LLC acquired a new stake in Pfizer during the 4th quarter worth about $28,000. 68.36% of the stock is owned by institutional investors and hedge funds.

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.