Grassi Investment Management Lowers stake in Pfizer (PFE)

Pfizer (PFE) : Grassi Investment Management reduced its stake in Pfizer by 1.21% during the most recent quarter end. The investment management company now holds a total of 243,646 shares of Pfizer which is valued at $8,071,992 after selling 2,973 shares in Pfizer , the firm said in a disclosure report filed with the SEC on Oct 12, 2016.Pfizer makes up approximately 1.56% of Grassi Investment Management’s portfolio.

Other Hedge Funds, Including , Fox Run Management L.l.c. sold out all of its stake in PFE during the most recent quarter. The investment firm sold 18,800 shares of PFE which is valued $622,844.Macnealy Hoover Investment Management Inc reduced its stake in PFE by selling 900 shares or 2.21% in the most recent quarter. The Hedge Fund company now holds 39,751 shares of PFE which is valued at $1,336,031. Pfizer makes up approx 0.25% of Macnealy Hoover Investment Management Inc’s portfolio.Fisher Asset Management boosted its stake in PFE in the latest quarter, The investment management firm added 111,838 additional shares and now holds a total of 31,836,368 shares of Pfizer which is valued at $1,070,020,328. Pfizer makes up approx 1.98% of Fisher Asset Management’s portfolio.First United Bank Trust reduced its stake in PFE by selling 92 shares or 1.15% in the most recent quarter. The Hedge Fund company now holds 7,899 shares of PFE which is valued at $265,485. Pfizer makes up approx 0.22% of First United Bank Trust’s portfolio.Pure Financial Advisors boosted its stake in PFE in the latest quarter, The investment management firm added 4,228 additional shares and now holds a total of 21,799 shares of Pfizer which is valued at $731,574. Pfizer makes up approx 0.24% of Pure Financial Advisors’s portfolio.

Pfizer closed down -0.48 points or -1.43% at $33.13 with 1,73,32,125 shares getting traded on Tuesday. Post opening the session at $33.56, the shares hit an intraday low of $32.94 and an intraday high of $33.57 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

On the company’s financial health, Pfizer reported $0.64 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Aug 2, 2016. Analyst had a consensus of $0.62. The company had revenue of $13147.00 million for the quarter, compared to analysts expectations of $13013.24 million. The company’s revenue was up 10.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.56 EPS.

Investors should note that on Sep 22, 2016, Pfizer announced a cash dividend of $0.3000. The company’s management has announced Nov 9, 2016 as the ex-dividend date and fixed the record date on Nov 11, 2016. The payable date has been fixed on Dec 1, 2016.

Many Wall Street Analysts have commented on Pfizer. Pfizer was Downgraded by Jefferies to ” Hold” on Oct 13, 2016.

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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