Bullish Chart Formation for Pfizer Inc. (PFE) After Forming Double Top Pattern

December 7, 2017 - By Henry Gaston

Investors sentiment decreased to 0.94 in 2017 Q2. Its down 0.01, from 0.95 in 2017Q1. It turned negative, as 58 investors sold Pfizer Inc. shares while 716 reduced holdings. 112 funds opened positions while 612 raised stakes. 4.02 billion shares or 1.07% less from 4.06 billion shares in 2017Q1 were reported.
Stewart West Indies Trading owns 1.21 million shares. National Bank Of Montreal Can reported 0.6% stake. Miles owns 43,525 shares for 0.79% of their portfolio. Moreover, First Natl Bank has 1.05% invested in Pfizer Inc. (NYSE:PFE) for 181,877 shares. Bedell Frazier Investment Counseling invested in 2.23% or 182,200 shares. Ci Global Investments has 0.42% invested in Pfizer Inc. (NYSE:PFE). Ontario – Canada-based Savings Bank Of Nova Scotia has invested 0.34% in Pfizer Inc. (NYSE:PFE). Zeke Advisors Ltd, a Pennsylvania-based fund reported 77,197 shares. 1.76 million are owned by Meyer Handelman Co. Investec Asset Ltd holds 5.16M shares or 0.83% of its portfolio. San Francisco Sentry Investment Grp (Ca) accumulated 15,471 shares or 0.19% of the stock. Solaris Asset Mgmt Lc reported 300 shares stake. Vantage Invest Ltd Liability Corp stated it has 1.42% in Pfizer Inc. (NYSE:PFE). Pnc Fin Ser Gru Inc has invested 0.7% in Pfizer Inc. (NYSE:PFE). Perkins Coie Trust has invested 1.28% in Pfizer Inc. (NYSE:PFE).

The chart of Pfizer Inc. (PFE) shows a double top with $37.99 target or 7.00 % above today’s $35.50 share price. The 9 months chart pattern indicates low risk for the $211.61B company. It was reported on Dec, 7 by Finviz.com. If the $37.99 price target is reached, the company will be worth $14.81B more. Double tops are rare but powerful chart patterns.

The stock decreased 0.17% or $0.06 during the last trading session, reaching $35.5. About 14.99M shares traded. Pfizer Inc. (NYSE:PFE) has declined 2.76% since December 7, 2016 and is downtrending. It has underperformed by 19.46% the S&P500.

Analysts await Pfizer Inc. (NYSE:PFE) to report earnings on January, 30. They expect $0.55 earnings per share, up 17.02 % or $0.08 from last year’s $0.47 per share. PFE’s profit will be $3.28 billion for 16.14 P/E if the $0.55 EPS becomes a reality. After $0.67 actual earnings per share reported by Pfizer Inc. for the previous quarter, Wall Street now forecasts -17.91 % negative EPS growth.

Pfizer Inc. (NYSE:PFE) Ratings Coverage

Among 21 analysts covering Pfizer (NYSE:PFE), 9 have Buy rating, 1 Sell and 11 Hold. Therefore 43% are positive. Pfizer had 66 analyst reports since July 29, 2015 according to SRatingsIntel. On Wednesday, November 25 the stock rating was upgraded by Suntrust Robinson to “Neutral”. The rating was maintained by Credit Suisse on Monday, May 9 with “Outperform”. The company was maintained on Monday, September 18 by Cowen & Co. The firm earned “Buy” rating on Tuesday, September 5 by BMO Capital Markets. Argus Research downgraded the stock to “Hold” rating in Wednesday, November 2 report. The firm has “Hold” rating by Jefferies given on Thursday, July 13. BMO Capital Markets maintained the shares of PFE in report on Tuesday, August 1 with “Hold” rating. The stock of Pfizer Inc. (NYSE:PFE) has “Buy” rating given on Tuesday, November 3 by Argus Research. Cowen & Co maintained Pfizer Inc. (NYSE:PFE) rating on Monday, July 10. Cowen & Co has “Buy” rating and $4300 target. The stock of Pfizer Inc. (NYSE:PFE) earned “Overweight” rating by Morgan Stanley on Friday, October 2.

More notable recent Pfizer Inc. (NYSE:PFE) news were published by: Investorplace.com which released: “Why It’s Time to Put Pfizer Inc. Stock on Your Watchlist” on November 17, 2017, also Fool.com with their article: “Better Buy: Pfizer Inc. vs. Johnson & Johnson” published on December 01, 2017, Moodys.com published: “Moody’s assigns A1 to Pfizer’s new sterling notes; stable outlook” on December 07, 2017. More interesting news about Pfizer Inc. (NYSE:PFE) were released by: Businesswire.com and their article: “Pfizer Inc. Announces (i) Private Exchange Offer for its 6.500 per cent. Notes …” published on December 07, 2017 as well as Livetradingnews.com‘s news article titled: “Pfizer Inc (NYSE:PFE) Heffx Technical Analysis” with publication date: December 05, 2017.

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