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

Pfizer Inc. (NYSE:PFE - Get Free Report)'s share price was up 1.3% during mid-day trading on Wednesday . The company traded as high as $24.69 and last traded at $24.61. Approximately 11,295,886 shares changed hands during trading, a decline of 76% from the average daily volume of 46,787,016 shares. The stock had previously closed at $24.30.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on PFE shares. The Goldman Sachs Group restated a "neutral" rating and set a $25.00 price target (down from $32.00) on shares of Pfizer in a report on Tuesday, April 8th. Cantor Fitzgerald started coverage on Pfizer in a report on Tuesday, April 22nd. They set a "neutral" rating and a $24.00 price target on the stock. UBS Group increased their price target on Pfizer from $24.00 to $25.00 and gave the stock a "neutral" rating in a report on Wednesday, April 30th. Guggenheim reiterated a "buy" rating on shares of Pfizer in a report on Tuesday, March 18th. Finally, Hsbc Global Res upgraded Pfizer to a "strong-buy" rating in a report on Monday, March 10th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, four have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $29.17.

Pfizer Stock Up 1.5%

The stock has a 50 day moving average of $22.96 and a 200-day moving average of $24.98. The firm has a market capitalization of $141.28 billion, a P/E ratio of 17.62, a PEG ratio of 0.64 and a beta of 0.57. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.73 and a current ratio of 1.00.

Pfizer (NYSE:PFE - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $13.72 billion for the quarter, compared to analysts' expectations of $14.43 billion. During the same period in the previous year, the business posted $0.82 EPS. The firm's quarterly revenue was down 7.8% compared to the same quarter last year. Research analysts predict that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.

Pfizer Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Stockholders 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 6.92%. The ex-dividend date is Friday, May 9th. Pfizer's dividend payout ratio is presently 124.64%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of PFE. Rialto Wealth Management LLC purchased a new position in shares of Pfizer during the fourth quarter worth about $26,000. Clarity Asset Management Inc. purchased a new stake in Pfizer in the fourth quarter worth approximately $27,000. Gould Capital LLC boosted its stake in Pfizer by 97.2% in the fourth quarter. Gould Capital LLC now owns 1,000 shares of the biopharmaceutical company's stock worth $27,000 after buying an additional 493 shares in the last quarter. GKV Capital Management Co. Inc. bought a new stake in Pfizer in the first quarter valued at approximately $27,000. Finally, Kohmann Bosshard Financial Services LLC bought a new stake in Pfizer in the fourth quarter valued at approximately $28,000. 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.