Is Buying Stock Like Pfizer Inc. (PFE) After This Bullish Double Top Chart Pattern a Winning Strategy?

December 7, 2017 - By Adrian Erickson

Investors sentiment decreased to 0.94 in Q2 2017. Its down 0.01, from 0.95 in 2017Q1. It is 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.
The Hawaii-based Cadinha Communications Lc has invested 0.23% in Pfizer Inc. (NYSE:PFE). Bell National Bank & Trust, North Dakota-based fund reported 123,362 shares. Monarch Capital Management Inc holds 1.61% or 126,906 shares. Dumont And Blake Investment Limited Liability, a New Jersey-based fund reported 19,698 shares. Solutions Ltd Com stated it has 0.03% of its portfolio in Pfizer Inc. (NYSE:PFE). Saturna Cap holds 1.32% of its portfolio in Pfizer Inc. (NYSE:PFE) for 1.19 million shares. Sumitomo Life stated it has 188,699 shares. Smith Salley & Associate reported 114,471 shares stake. Sg Americas Secs Ltd Liability invested 0.16% of its portfolio in Pfizer Inc. (NYSE:PFE). Td Mngmt Ltd Limited Liability Company owns 186 shares or 0% of their US portfolio. Carlson Capital L P holds 0.2% or 426,211 shares in its portfolio. Everett Harris And Ca accumulated 0.07% or 67,575 shares. Comerica Bancorporation reported 2.13 million shares or 0.53% of all its holdings. Adage Capital Prns Group Ltd Liability Corp accumulated 8.09 million shares or 0.66% of the stock. Endurant Cap Mgmt Ltd Partnership owns 231,400 shares.

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. Credit Suisse maintained the shares of PFE in report on Monday, May 9 with “Outperform” rating. Cowen & Co upgraded Pfizer Inc. (NYSE:PFE) on Tuesday, October 20 to “Outperform” rating. BMO Capital Markets downgraded Pfizer Inc. (NYSE:PFE) on Wednesday, November 2 to “Market Perform” rating. As per Wednesday, August 16, the company rating was maintained by Jefferies. The stock has “Buy” rating by BMO Capital Markets on Tuesday, November 21. On Thursday, August 4 the stock rating was maintained by Jefferies with “Buy”. The firm earned “Buy” rating on Monday, September 18 by Cowen & Co. Argus Research maintained the shares of PFE in report on Wednesday, July 29 with “Buy” rating. As per Tuesday, May 16, the company rating was downgraded by Citigroup. The rating was maintained by Jefferies on Monday, October 16 with “Hold”.

More notable recent Pfizer Inc. (NYSE:PFE) news were published by: Fool.com which released: “Better Buy: Pfizer Inc. vs. Johnson & Johnson” on December 01, 2017, also Livetradingnews.com with their article: “Pfizer Inc (NYSE:PFE) Heffx Technical Analysis” published on December 05, 2017, Investorplace.com published: “Why It’s Time to Put Pfizer Inc. Stock on Your Watchlist” on November 17, 2017. More interesting news about Pfizer Inc. (NYSE:PFE) were released by: Mlive.com and their article: “Pfizer Inc. is looking to fill 200 new positions in Portage” published on November 13, 2017 as well as Businesswire.com‘s news article titled: “Pfizer Inc. Announces (i) Private Exchange Offer for its 6.500 per cent. Notes …” with publication date: December 07, 2017.

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