Pfizer (NYSE:PFE) Shares Up 1.7% - Time to Buy?

Pfizer Inc. (NYSE:PFE - Get Free Report)'s share price was up 1.7% during mid-day trading on Thursday . The company traded as high as $26.05 and last traded at $26.01. Approximately 11,598,836 shares traded hands during mid-day trading, a decline of 72% from the average daily volume of 41,689,217 shares. The stock had previously closed at $25.56.

Analyst Ratings Changes

A number of research analysts have issued reports on PFE shares. BMO Capital Markets dropped their target price on shares of Pfizer from $36.00 to $30.00 in a report on Thursday, April 17th. Citigroup increased their target price on shares of Pfizer from $23.00 to $25.00 and gave the company a "neutral" rating in a report on Wednesday, April 30th. Berenberg Bank dropped their target price on shares of Pfizer from $28.00 to $25.00 and set a "hold" rating for the company in a report on Thursday, May 29th. Jefferies Financial Group increased their target price on shares of Pfizer from $32.00 to $33.00 and gave the company a "buy" rating in a report on Wednesday, May 21st. Finally, Cantor Fitzgerald started coverage on shares of Pfizer in a report on Tuesday, April 22nd. They issued a "neutral" rating and a $24.00 target price for the company. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, six have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $28.55.

Pfizer Stock Performance

The stock's 50 day moving average price is $23.86 and its two-hundred day moving average price is $24.81. The firm has a market capitalization of $146.49 billion, a PE ratio of 18.67, a PEG ratio of 0.93 and a beta of 0.58. The company has a current ratio of 1.26, a quick ratio of 0.96 and a debt-to-equity ratio of 0.64.

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, topping analysts' consensus estimates of $0.67 by $0.25. Pfizer had a net margin of 12.62% and a return on equity of 20.33%. The firm had revenue of $13.72 billion for the quarter, compared to analyst estimates of $14.43 billion. During the same quarter last year, the business earned $0.82 earnings per share. Pfizer's revenue was down 7.8% compared to the same quarter last year. On average, equities analysts expect that Pfizer Inc. will post 2.95 earnings per share for the current year.

Pfizer Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Friday, July 25th will be given a dividend of $0.43 per share. The ex-dividend date of this dividend is Friday, July 25th. This represents a $1.72 dividend on an annualized basis and a yield of 6.68%. Pfizer's dividend payout ratio (DPR) is currently 124.64%.

Institutional Trading of Pfizer

A number of hedge funds have recently bought and sold shares of PFE. Norges Bank acquired a new stake in Pfizer during the fourth quarter worth approximately $2,328,986,000. Pacer Advisors Inc. boosted its holdings in shares of Pfizer by 856.8% in the 1st quarter. Pacer Advisors Inc. now owns 20,053,828 shares of the biopharmaceutical company's stock valued at $508,164,000 after purchasing an additional 17,957,928 shares during the last quarter. Amundi boosted its holdings in shares of Pfizer by 43.4% in the 1st quarter. Amundi now owns 52,090,403 shares of the biopharmaceutical company's stock valued at $1,265,277,000 after purchasing an additional 15,758,846 shares during the last quarter. Nuveen LLC acquired a new position in shares of Pfizer in the 1st quarter valued at $389,861,000. Finally, Starboard Value LP acquired a new position in shares of Pfizer in the 4th quarter valued at $407,730,000. Institutional investors and hedge funds 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.