How to Buy Pfizer Stock – A Shot at Profits
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Until 2019, many pharmaceutical companies were trying to grab a market share and were considered one of the many. Then came 2020 and 2021. This was when pharmaceutical companies made their presence felt, and Pfizer achieved its moment of stardom. It developed a vaccine for coronavirus in a short time and became the star pharmaceutical company everyone was looking up to.
In less than one year, the company had a vaccine that helped combat the virus, and it was the first vaccine to be approved by the U.S. However, Pfizer is not just about its COVID-19 vaccine (which competes with Moderna). A lot is working in favor of the healthcare company. It has plenty of products in the works for the coming years. Let's take you through the process if you want to invest in Pfizer stock.
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In this article
Step 1: Finding a broker that offers Pfizer stock
Pfizer is a publicly traded company; you can buy the stock from the stock market. The best way to purchase the stock is through any online brokerage account. Various brokers in the industry allow you to purchase and sell stocks. They have varying fees, commissions, and account minimums. Check out the different platforms, compare them, and then make a call. Some brokers also allow the purchase of fractional shares, so you can buy a part of the stock if you are worried about not having enough funds. Here are the three brokers worth considering before you commit.
Robinhood
Robinhood is an easy-to-use app ideal for beginners. Buying Pfizer stock is quick and easy with Robinhood. There are no fees to sign up, and you enjoy robust features at a nominal monthly fee of $5. The monthly fee provides access to Morningstar research, which will help you pick up stock. You can purchase fractional shares with Robinhood. There is no commission on the trade; you get access to pre-market and after-hours trading. Open an account for free and begin your investment journey. There is no minimum balance requirement.
Pros and cons
Pros
- Commission-free trades
- No minimum deposit required
- Offers fractional shares
Cons
- No retirement or custodial accounts
Webull
It takes 10 minutes to open a Webull account. You also get 3-month trial access to Level 2 Market Data to help make the right investment decisions. The trades are commission-free, and you enjoy several benefits, including powerful data analytics. Webull offers fractional shares.
Pros and cons
Pros
- Zero commission
- Free stock
- Access to full extended hours trading
- Offers fractional shares
Cons
- Does not allow you to invest in bonds or mutual funds
Stash
A user-friendly platform that allows you to buy whole and fractional shares, Stash is a great online brokerage. It also allows you to invest in ETFs and bonds. Stash offers two levels of plans to choose from. The first plan is basic and worth $3. Then there is a $9 plan. The $3 plan includes retirement accounts, and the $9 plan includes two custodial accounts. You also enjoy monthly market insight reports with the plan.
Pros and cons
Pros
- Offers fractional shares
- Start investing with $3
- Retirement and custodial accounts available
Cons
- No automatic rebalancing
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Step 2: Research Pfizer shares
Pfizer Inc. is a global pharmaceutical company headquartered in New York. It was founded in 1849 by Charles Erhart and Charles Pfizer. It ranks 9th in the Fortune 500 healthcare companies list.
It produces vaccines and medicines for oncology, immunology, endocrinology, neurology, and cardiology. It has many blockbuster products and generates more than $1 billion in annual revenue. More than 50% of the company’s revenue comes from the United States.
With time, the company made several strong acquisitions that put it at the top of the pharmaceutical industry. It went public on June 22, 1942, for $24.75 a share.
It trades on the NYSE under the ticker PFE.
Pfizer price history
Pfizer made a lot of noise for its vaccine. If you have not had a chance to invest in Pfizer, you can take the opportunity to do so now. As of May 13, 2024, it is trading at $28.01.
The company stock has high growth potential, and considering its drug pipeline, the share price looks cheap today. The company announced a 2-for-1 stock split four times and a 3-for-1 in July 1999. There haven't been any stock splits since.
Pfizer dividend information
Pfizer is a dividend king and has consistently paid dividends to shareholders. This is one of the reasons it is one of the best stocks to buy and hold long-term. Its first-quarter 2024 dividend will be the 342nd consecutive dividend.
The company has a dividend yield of 5.88%. It recently announced a quarterly cash dividend of $0.42 per share.
Best features of Pfizer Stock
Dividend king. Pfizer is one stock that provides reliable dividends to the shareholders. For a stock trading at around $28, an annual dividend of $1.68 per share is not bad. Pfizer has a dividend yield of 5.88%. The consistent stream of dividends is reason enough for income-oriented investors to hold on to the stock.
Stable fundamentals. Due to an expected drop in vaccine sales, Pfizer's Q1 2024 revenue saw a 20% year-over-year drop to $14.88 billion, and adjusted EPS was down 33% to $0.82. On a quarter-over-quarter basis, the numbers are growing. It has invested $43 billion to battle cancer and has several drugs in the pipeline that can boost sales. It recently completed the acquisition of Seagen Inc., a biotechnology company that discovers and develops transformative cancer medicine.
Major drugs in the pipeline. Pfizer has a pipeline of various drugs and treatments, which can add over $15 billion in annual revenue by 2025. By the end of 2025, the company expects approval for six diabetes drugs, 12 autoimmune treatments, six vaccines, 14 cancer treatments, and three gene therapies.
Oncology success. Pfizer is known for its oncology drugs, which generate massive revenue annually. The pipeline shows that the company is heavily targeted toward new therapies. By the end of 2025, the company could have 13 oncology approvals. Oncology is one of the core segments for the company that brought in $3.5 billion in revenue in the most recent quarter.
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Step 3: Open a brokerage account & buy Pfizer shares
Now that you are ready to invest in Pfizer shares, it is time to open a brokerage account. You can get into investing in the stock market with Webull. Once you open the account and deposit $100, you will get to pick two stocks of your choice, and this is where you can buy PFE stock right away. Let’s go through the process in detail.
Head to the Webull website and click on Sign up. Provide your email ID and password here. You will receive a verification code; you can set up the account once you verify.
Now click on Open account and provide details like your name, birthdate, address, social security number, nationality, and employment. Additionally, you will have to answer some security questions before you start to trade. In the next step, you pick the type of account you want to open, and the broker will verify the information and approve it.
The process will take less than 10 minutes, and you can fund the account to start investing. Link your bank account or transfer funds to the account and purchase Pfizer stock.
FAQs
How much does it cost to buy Pfizer shares today?
Shares closed at $28.01. on May 13, 2024.
Does Pfizer pay dividends?
Pfizer is a dividend king and has consistently paid dividends to the shareholders.
What is the minimum number of Pfizer shares that I can buy?
You can purchase fractional shares of Pfizer for as little as $1. You must choose a brokerage that allows the purchase of fractional shares.
The bottom Line
Pfizer, a leading name in the pharmaceutical industry, has emerged as a top investment choice, particularly in the wake of the pandemic. Its role in developing a COVID-19 vaccine has catapulted Pfizer's stock into the spotlight, drawing the attention of investors seeking a dividend aristocrat. Beyond the vaccine, Pfizer's robust pipeline of drugs promises continued growth, high sales, and increasing revenue in the coming years, reinforcing its status as a growth stock with long-term potential.
For those considering adding Pfizer to their investment strategy, it's important to carefully plan your approach. This involves deciding the number of shares to purchase and the desired stock price, aligning with your financial goals. The market's volatility is a critical factor to consider. Stock prices can fluctuate widely, rising and falling in response to market dynamics.
When placing an order for Pfizer stock, you can buy at the market price, which is the current price at the time of the order. Alternatively, you can set a limit price—a predetermined price you're willing to buy or sell. This limit price strategy allows for more control over the transaction, ensuring the order is executed only when the stock reaches your specified price or expires otherwise. This approach to buying Pfizer stock, considering its recent prominence and prospects, can be a key component of a well-rounded, long-term investment strategy.
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Editor
Vandita Jadeja is a financial writer and editor at Joywallet. She loves to read and write about money and brings a decade of experience from the financial industry.
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