How to Buy Pfizer (PFE) Stock

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Contributor, Benzinga
January 11, 2024

Invest in Pfizer stock today with Interactive Brokers as your trusted online brokerage.

Pfizer Inc. earned $100 billion in revenue in 2022 and 2023 has been just as robust with the advent of Paxlovid and the continued need for the COVID vaccine. The company will continue to generate income from the vaccine in the coming years because shot effectiveness may only work in individuals for a year or two. Don't forget that the company also has dozens of drugs in clinical trials for oncology, rare diseases, vaccines, inflammation, immunology and more.

These strong results have pushed Pfizer’s stock prices higher, which may create an opportunity for investors to buy into this asset as trials in the United States continue. If you’re considering investing in Pfizer stock but don’t know how to begin, our guide will help you learn more, choose a broker that will help you access the stock market and invest in your first set of shares of this public offering. Remember, your health care provider is offering the vaccines it can access, but Pfizer wants to remain relevant so that its stock performs and it can address the continuing COVID-19 pandemic.

$25.455
-0.235[-0.91%]
Last update: 12:58PM (Delayed 15-Minutes)
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Open25.690Close-
Vol / Avg.27.035M / 42.791MMkt Cap144.140B
Day Range25.260 - 25.69052 Wk Range25.610 - 41.710

How to Buy Pfizer (NYSE: PFE) Stock

Whether you’re buying a wide range of stocks under $20 to day trade or you’re looking for more expensive long-term investments, you’ll follow the same process to buy most types of stock. You want to reduce riskLet’s take a look at how to get started investing, especially when looking into stocks that perform well after adverse events.

Pick a Brokerage

As a retail investor, you cannot buy and sell shares of stock directly from the companies offering them. However, you can easily access the market through an online broker, which can then buy and sell shares of stock on your behalf, according to directions from you. Dozens of brokers offer access to the world’s markets online.

Decide How Many Shares You Want

After you open your brokerage account, fund your account with the amount of money that you want to invest. Take a look at the current share price of the stock you want to buy and how prices are trending. Calculate how many shares you’re interested in purchasing using the current market price as a guide. Remember, there is no guarantee that your investment will increase in value — so never invest more money than you can comfortably afford to lose.

Choose Your Order Type 

After you decide how many shares of stock you’d like to buy, it’s time to choose your order type. There are multiple types of orders you can place through your broker, and the order type you choose may dictate how quickly your order is filled and how much you’ll pay for each share of stock. Let’s take a look at a few key terms and order types you should know before you invest. 

Execute Your Trade

After you’ve placed your order through your brokerage platform, sit back and relax — your broker will fill the order as the order type you’ve chosen specified. If you set a limit order that cannot be filled, the broker may cancel the order at the end of the day. You’ll usually receive a notification on your platform or by email when your order is filled.  

Best Online Brokers

If you don’t already have a brokerage account, consider a few of the best brokers we recommend below. 

Pfizer Stock History

Headquartered in New York City, Pfizer is among the country’s oldest pharmaceutical manufacturers, founded in 1849. Like many companies, Pfizer’s stock peaked shortly before the onset of the novel COVID-19 virus, reaching a high price of $40.51 per share on January 13, 2020. The company’s stock tumbled to $29.01 per share on March 16, as COVID-19 concerns peaked. The Food and Drug Administration quickly approved the Pfizer vaccine, making it easier for the firm to grow. The booster vaccination process simply allowed the firm to gain even more momentum.

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Pfizer’s stock has rebounded exceptionally well since the onset of COVID-19 concerns. 

Interest in Pfizer stock has sharply increased since November 9, 2020, when the company announced that its experimental COVID-19 vaccination was showing up to 90% efficacy rates. The stock rose 8% on this date, peaking at a price of around $40.75 per share. As of January of 2024, the stock is sitting just under $30 per share following a sell-off that ended 2023.

Pros to Buying Pfizer Stock

The Pfizer COVID vaccine alone is a moneymaker, but the preventative treatment known as Paxlovid has also been quite helpful for the business as it helps patients stay out of the hospital, is readily available and will continue to be a favored treatment for many years to come.

The global COVID-19 pandemic has had a major effect on the market as well as the health and safety of millions of men and women around the world. An approved emergency application and patent could cause Pfizer’s stock to skyrocket. 

If the continues to perform reasonably well, you can engage in a dividend reinvestment plan, which will allow you to grow your portfolio further. The Pfizer share price hasn’t skyrocketed either, meaning that you may have a chance to buy while it’s still “low”.

Cons to Buying Pfizer Stock

Pfizer agreed to supply the U.S. government with doses of the vaccine at $19.50 per dose, and strong public pressure to keep the vaccination widely available may push this price down more.

Pfizer is not the only company developing a treatment for COVID-19. For example, biotech pharmaceutical company Moderna (NASDAQ: MRNA) did the same. The competition in the COVID vaccine and treatment market is stiff, and every one of these companies could be considered a growth stock. Plus, that means the share price will not necessarily rise as fast as you would like. Every stockholder should select assets based on their personal investment strategy.

Finally, while the COVID pandemic may seem to be “over”, it is here to stay for some time. This means that Pfizer will grow accustomed to these massive profits. Can the business pivot when it’s time to move away from its reliance on the COVID vaccine and related treatments?

Investing in Pharmaceuticals 

Unlike penny stocks under $5, Pfizer has a company history dating back more than 170 years. This means that, even if COVID-19 trials don’t move on as hoped, the stock isn’t likely to be delisted or tank anytime soon.

Healthcare and pharmaceutical stocks range from cures to wellness, trials and retail operations. When you complete a technical analysis of the asset, only invest when you believe the products in development and earnings match up with your needs.

It’s important to remember that every stock has the potential to decrease in value at any time — so be sure to never invest more than you can comfortably afford to lose, no matter what you’re buying. 

Frequently Asked Questions

Q

Can you buy Pfizer stock from Robinhood?

A

Yes, you can buy Pfizer stock from Robinhood. Robinhood is a popular online brokerage platform that allows users to trade stocks, including Pfizer and other publicly traded companies.

Q

Who is the transfer agent for PFE?

A

The transfer agent for PFE, which is Pfizer Inc., is Computershare Trust Company, N.A.

Q

What is the average price target for PFE?

A

The average price target for PFE (Pfizer Inc.) can vary depending on the source and time frame. It is important to note that price targets are not guarantees and can be subject to change. It is recommended to consult financial analysts and experts for the most up-to-date and accurate price target information for PFE.

About Sarah Horvath

Sarah is an expert in the insurance, investing for retirement and cryptocurrency space.