Topic: How To Invest

Wall Street Stock Forecaster Hotline – Friday, November 4, 2022

Article Excerpt

PFIZER INC., $47.17, New York symbol PFE, is your #1 Income Buy for 2022. The company is one of the world’s largest makers of prescription drugs. Its top-selling brands include Enbrel (arthritis), Ibrance (breast cancer) and Prevnar (pneumonia). Pfizer has increased its dividend rate each year since 2011. Starting with the March 2022 payment, the company raised your quarterly dividend by 2.6%. Investors now receive $0.40 a share instead of $0.39. The new annual rate of $1.60 yields a solid 3.4%. Sales in the three months ended September 30, 2022, fell 5.8%, to $22.64 billion from $24.04 billion a year earlier. Even so, that beat the consensus forecast of $21.0 billion. The decline reflects a 66.1% drop in sales of the company’s COVID-19 vaccine, which it developed in partnership with German drugmaker BioNTech (Nasdaq symbol BNTX), as the pandemic eases. Comirnaty sales totalled $4.40 billion in the latest quarter, or 19.5% of the total. However, that drop was offset by strong sales of Pfizer’s new…