Meyer Handelman Co Lowers stake in Pfizer (PFE)

Pfizer (PFE) : Meyer Handelman Co reduced its stake in Pfizer by 0.66% during the most recent quarter end. The investment management company now holds a total of 1,835,752 shares of Pfizer which is valued at $63.5 Million after selling 12,135 shares in Pfizer , the firm said in a disclosure report filed with the SEC on May 25, 2016.Pfizer makes up approximately 2.87% of Meyer Handelman Co’s portfolio.

Other Hedge Funds, Including , Strategic Wealth Advisors Groupinc. boosted its stake in PFE in the latest quarter, The investment management firm added 43,296 additional shares and now holds a total of 71,392 shares of Pfizer which is valued at $2.5 Million. Pfizer makes up approx 0.79% of Strategic Wealth Advisors Groupinc.’s portfolio.Salem Investment Counselors Inc reduced its stake in PFE by selling 6,646 shares or 1.93% in the most recent quarter. The Hedge Fund company now holds 337,114 shares of PFE which is valued at $11.2 Million. Pfizer makes up approx 1.40% of Salem Investment Counselors Inc’s portfolio.Nuveen Asset Management reduced its stake in PFE by selling 831,542 shares or 25.24% in the most recent quarter. The Hedge Fund company now holds 2,463,606 shares of PFE which is valued at $81.8 Million. Pfizer makes up approx 0.51% of Nuveen Asset Management’s portfolio.Stuyvesant Capital Management reduced its stake in PFE by selling 2,275 shares or 2.89% in the most recent quarter. The Hedge Fund company now holds 76,540 shares of PFE which is valued at $2.5 Million. Pfizer makes up approx 5.43% of Stuyvesant Capital Management’s portfolio. Hudson Bay Capital Management Lp sold out all of its stake in PFE during the most recent quarter. The investment firm sold 1,161,847 shares of PFE which is valued $38.6 Million.

Pfizer opened for trading at $34.65 and hit $34.935 on the upside on Wednesday, eventually ending the session at $34.75, with a gain of 0.14% or 0.05 points. The heightened volatility saw the trading volume jump to 2,31,13,119 shares. Company has a market cap of $210,754 M.

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.

Many Wall Street Analysts have commented on Pfizer. 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 .Goldman Resumed Pfizer on Apr 18, 2016 to “Neutral”, Price Target of the shares are set at $35.

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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