Summary: Pfizer is a pharmaceutical giant offering a range of products, the most prominent of which serve to combat the COVID-19 global pandemic. In this guide, we will explain each step of how to buy Pfizer stock using a regulated investing platform like eToro.
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About Pfizer
Based in Manhattan, NYC, the company is today globally known for its Pfizer-BioNTech COVID-19 vaccine and Nirmatrelvir/ritonavir antiviral medication, both of which saw extensive use in preventing and treating the cause of the 2020-2023 global pandemic of the coronavirus. Besides COVID-19, Pfizer has gained a reputation for its medicines and vaccines related to immunology, oncology, and other fields of medicine.
The company was a component of the Dow Jones from 2004 to 2020 and is currently an S&P 100 component. It ranks 38th on the Fortune 500 and 39th on the Forbes Global 2000 lists.
How to buy Pfizer stock: step-by-step
Pfizer is a public company from as early as June 22, 1942. Therefore, the general investing public can freely buy the company’s stock.
You can buy Pfizer shares through a straightforward process in these five steps:
Step 1: Choose a broker
Before buying the PFE stock, you must access the stock market. The most straightforward way to speculate on stock prices is to obtain the services of an online stock brokerage.
To securely buy Pfizer stock (PFE), we recommend the following:
- Commission-free stock and ETF trading;
- 2,000+ stocks from 17 exchanges;
- Fractional shares available;
- User-friendly platform.
Highly Rated Stock Trading & Investing Platform
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Invest in 2,800+ stocks and other assets including 70+ cryptocurrencies and commodities.
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0% commission on buying stocks - buy in bulk or just a fraction from as little as $10. Other fees apply. For more information, visit etoro.com/trading/fees.
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Copy top-performing traders in real time, automatically.
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eToro USA is registered with FINRA for securities trading.
Investing services showcase various pros and cons that target different investing styles. That said, some factors should affect your choice regardless of your preferences. Keep in mind the following:
- Range of offerings: Your investing service should list Pfizer stock but also have a sizable presence of other financial assets such as different commodities, various stocks, forex, and derivative assets like options, CFDs, and futures. These will be useful when you decide to pursue diversifying your portfolio;
- Cost: Today’s investing services usually employ accounts with no minimum and 0% commission fees for stocks and ETFs. You should not take anything less;
- Regulation and security: Your investing service needs to follow the Securities and Exchange Commission (SEC) and Financial Industry Regulatory Authority (FINRA) regulations. Confirm that the two-factor authentication (2FA) policy and other advanced security measures protect you on the platform of your choice;
- Fractional stock trading: Platforms that feature fractional stock trading allow you to buy stocks by the dollar amount, which benefits those with limited capital or traders seeking to pursue the dollar-cost averaging approach.
Step 2: Open and fund your account
Once you conclude the investing service selection process, create and verify your account. The guidelines for this should come by email inbox within a minute.
After the verification is complete, you should transfer some funds to your account. You can purchase shares in Pfizer with commonly available payment options, such as a bank transfer, debit or credit card, and a third-party financial service such as PayPal (PYPL).
Step 3: Decide how much you want to invest in Pfizer stock
Deciding on the proper sum to invest in Pfizer stock is vital. Consider your budget, as going past your limits may cause severe consequences if your investment fails.
To limit the consequences in case of a bad outcome, implement the following measures:
- Pay off all high-interest debt, such as credit cards and personal loans;
- Created an emergency fund that covers at least three months of daily life expenses.
Deciding on the sum you want to invest is also affected by your investing goals, risk awareness, and personal investing choices.
Remember
Step 4: Place your order and buy Pfizer stock
You need to place a trade order to purchase PFE shares. Go through the following steps:
- Step 1: Log into your account and navigate toward the company’s ticker PFE;
- Step 2: Type in the dollar amount or the number of Pfizer shares you want to buy;
- Step 3: Select the order type (market order or limit order) and place it;
- Step 4: Place the trade order.
Step 5: Monitor and manage your investment
When you receive the Pfizer shares, the investing process is not over: you still need to manage and monitor your stock portfolio actively. Diligently maintaining your investment’s course boosts the efficiency and potential returns of your financial undertakings.
Make sure to regularly track the ongoing pharmaceutical trends and advances in biotechnology to predict the direction of the PFE price accurately. Also, you should pay attention to Pfizer’s media coverage, financial performance, and regulation approvals for its products, as these all substantially affect the stock’s value.
Pfizer stock price today
Pros and cons of buying Pfizer stock (PFE)
Pros
- Stability: Pfizer has a long and stable history, weathering out multiple economic crises and adapting to the market’s whimsical trends;
- Dividends: Pfizer has a decades-long tradition of paying high-yield dividends to shareholders, making it a solid dividend stock to buy and potentially establish a source of passive income;
- Global presence: Pfizer has a formidable presence on the worldwide market with a diverse portfolio of pharmaceutical products. The company should not be very vulnerable to turbulences with a local scope.
Cons
- The end of the COVID-19 pandemic: The massive influx of revenue caused by Pfizer’s effective medical solutions will dry out as the pandemic loses its hold over society. Unless Pfizer adapts, this will likely drop the price of its stock;
- Patent expirations: Similar to other pharmaceutical companies, Pfizer will have to deal with patent expirations, which may lead to a potential decline in revenue when integral drugs lose exclusivity to the company;
- Regulations: Pfizer’s products depend on the FDA and other regulatory bodies for approval for general consumption. If these licenses were revoked, the company would witness a significant fall in revenue.
Common mistakes to avoid when buying Pfizer stock
Make sure to avoid these common investing mistakes:
- Lack of research: Research the stock in detail, along with the market state of pharmaceutical and biotechnology industries, before investing anything;
- Lack of strategy: Define your goals before you spend any money;
- Staking everything on one asset: Always diversify your portfolio;
- Falling prey to scams: Avoid illegal platforms and suspicious deals.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
FAQs about how to buy Pfizer stock
How do I buy Pfizer stock?
The general public can buy PFE stock via a regulated online investing service like eToro.
Should I invest in Pfizer stock?
The answer largely depends on your economic preferences, opinion on the future of Pfizer as a pharmaceutical and biotechnology brand, and your investing tastes. Rely on the pros and cons of this guide to weigh in on your decision.
Is Pfizer a dividend-paying stock?
Yes, Pfizer pays dividends to its shareholders, with the dividend yield being 6.06% as of December 2023.
Highly Rated Stock Trading & Investing Platform
-
Invest in 2,800+ stocks and other assets including 70+ cryptocurrencies and commodities.
-
0% commission on buying stocks - buy in bulk or just a fraction from as little as $10. Other fees apply. For more information, visit etoro.com/trading/fees.
-
Copy top-performing traders in real time, automatically.
-
eToro USA is registered with FINRA for securities trading.
