Fisher Asset Management Lowers stake in Pfizer (PFE)

Pfizer (PFE) : Fisher Asset Management reduced its stake in Pfizer by 0.07% during the most recent quarter end. The investment management company now holds a total of 31,724,530 shares of Pfizer which is valued at $1,151,917,684 after selling 21,618 shares in Pfizer , the firm said in a disclosure report filed with the SEC on Jul 12, 2016.Pfizer makes up approximately 2.20% of Fisher Asset Management’s portfolio.

Other Hedge Funds, Including , Stillwater Capital Advisors reduced its stake in PFE by selling 1,123 shares or 0.3% in the most recent quarter. The Hedge Fund company now holds 373,236 shares of PFE which is valued at $13,552,199. Pfizer makes up approx 3.94% of Stillwater Capital Advisors’s portfolio.Bank Of Stockton reduced its stake in PFE by selling 792 shares or 10.44% in the most recent quarter. The Hedge Fund company now holds 6,791 shares of PFE which is valued at $245,291. Pfizer makes up approx 0.13% of Bank Of Stockton’s portfolio.

Pfizer closed down -0.15 points or -0.41% at $36.77 with 2,50,90,491 shares getting traded on Friday. Post opening the session at $36.97, the shares hit an intraday low of $36.63 and an intraday high of $37.19 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

On the company’s financial health, Pfizer reported $0.67 EPS for the quarter, beating the analyst consensus estimate by $ 0.12 according to the earnings call on May 3, 2016. Analyst had a consensus of $0.55. The company had revenue of $13005.00 million for the quarter, compared to analysts expectations of $12008.32 million. The company’s revenue was up 19.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.51 EPS.

Investors should note that on Jun 23, 2016, Pfizer announced a cash dividend of $0.3000. The company’s management has announced Aug 3, 2016 as the ex-dividend date and fixed the record date on Aug 5, 2016. The payable date has been fixed on Sep 1, 2016.

Many Wall Street Analysts have commented on Pfizer. Shares were Reiterated by Jefferies on Jun 20, 2016 to “Buy” and Lowered the Price Target to $ 40 from a previous price target of $42 .Berenberg Initiated Pfizer on May 12, 2016 to “Hold”, Price Target of the shares are set at $38.Company shares were Reiterated by UBS on May 4, 2016 to “Buy”, Firm has raised the Price Target to $ 38 from a previous price target of $36 .

Pfizer Inc. is a global biopharmaceutical company. The Company is engaged in discovering developing and manufacturing of healthcare products. Its products include Lyrica the Prevnar family of products Enbrel Celebrex Lipitor Viagra Zyvox Sutent EpiPen Toviaz Tygacil Rapamune Xalkori Inlyta Norvasc BeneFIX Genotropin and Enbrel among others. It operates in three segments: Global Innovative Pharmaceutical segment (GIP) Global Vaccines Oncology and Consumer Healthcare segment (VOC) and Global Established Pharmaceutical segment (GEP). GIP is focused on developing registering and commercializing medications in therapeutic areas such as inflammation cardiovascular/metabolic neuroscience and pain rare diseases and women’s/men’s health. VOC focuses on the development and commercialization of vaccines and products for oncology and consumer healthcare. GEP includes its sterile injectable products and bio similar development portfolio. Its subsidiary is Hospira Inc.

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