Socorro Asset Management LP Has $7.73 Million Stock Position in Pfizer Inc. (NYSE:PFE)

Socorro Asset Management LP lifted its stake in shares of Pfizer Inc. (NYSE:PFE) by 17.9% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 266,951 shares of the biopharmaceutical company’s stock after buying an additional 40,545 shares during the period. Pfizer comprises approximately 2.9% of Socorro Asset Management LP’s investment portfolio, making the stock its 24th biggest position. Socorro Asset Management LP’s holdings in Pfizer were worth $7,726,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of PFE. Charles Schwab Investment Management Inc. increased its holdings in Pfizer by 11.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 130,143,942 shares of the biopharmaceutical company’s stock worth $3,766,366,000 after purchasing an additional 12,864,343 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Pfizer by 3.2% in the second quarter. Massachusetts Financial Services Co. MA now owns 71,794,056 shares of the biopharmaceutical company’s stock valued at $2,008,798,000 after buying an additional 2,241,609 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Pfizer by 22.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 38,068,879 shares of the biopharmaceutical company’s stock valued at $1,101,713,000 after buying an additional 6,977,587 shares during the last quarter. Swiss National Bank boosted its position in Pfizer by 0.6% during the 3rd quarter. Swiss National Bank now owns 16,819,712 shares of the biopharmaceutical company’s stock worth $486,762,000 after buying an additional 100,900 shares during the period. Finally, Van ECK Associates Corp grew its holdings in Pfizer by 2.8% during the 3rd quarter. Van ECK Associates Corp now owns 16,560,256 shares of the biopharmaceutical company’s stock worth $477,929,000 after acquiring an additional 456,168 shares during the last quarter. 68.36% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on PFE shares. Sanford C. Bernstein assumed coverage on shares of Pfizer in a report on Thursday, October 17th. They set a “market perform” rating and a $32.00 price target on the stock. Citigroup began coverage on Pfizer in a report on Friday, October 25th. They set a “neutral” rating and a $30.00 target price on the stock. StockNews.com cut Pfizer from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, November 20th. Wolfe Research initiated coverage on Pfizer in a research note on Friday, November 15th. They issued an “underperform” rating and a $25.00 price objective on the stock. Finally, Evercore ISI raised shares of Pfizer to a “strong-buy” rating in a research report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Pfizer presently has a consensus rating of “Moderate Buy” and an average target price of $32.92.

Pfizer Price Performance

Shares of NYSE PFE opened at $26.21 on Friday. The company has a current ratio of 1.00, a quick ratio of 0.73 and a debt-to-equity ratio of 0.63. The firm’s 50-day moving average price is $27.83 and its 200-day moving average price is $28.49. The firm has a market capitalization of $148.53 billion, a P/E ratio of 35.42, a P/E/G ratio of 0.71 and a beta of 0.67. Pfizer Inc. has a 1-year low of $24.48 and a 1-year high of $31.54.

Pfizer (NYSE:PFE) last announced its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.42. The business had revenue of $17.70 billion for the quarter, compared to analyst estimates of $14.92 billion. Pfizer had a return on equity of 16.28% and a net margin of 7.07%. The company’s quarterly revenue was up 31.2% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.17) earnings per share. Equities research analysts anticipate that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.

Pfizer Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be paid a dividend of $0.42 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.68 dividend on an annualized basis and a yield of 6.41%. Pfizer’s dividend payout ratio (DPR) is presently 227.03%.

Insiders Place Their Bets

In other Pfizer news, Director Scott Gottlieb bought 1,000 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The stock was bought at an average cost of $28.24 per share, with a total value of $28,240.00. Following the completion of the transaction, the director now directly owns 10,000 shares in the company, valued at approximately $282,400. The trade was a 11.11 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.06% 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.