Topic: How To Invest

Dividend Advisor Hotline – Friday, March 24, 2023

Article Excerpt

PFIZER INC., $40.39, New York symbol PFE, is a buy. 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 3, 2023, payment, the company raised your quarterly dividend by 2.5%. Investors received $0.41 a share instead of $0.40. The new annual rate of $1.64 yields 4.1%. The company is now buying Seagen Inc. (Nasdaq symbol SGEN), which specializes in treatments for various forms of cancers. Seagen is a leader in antibody-drug conjugate (ADC) technologies, which use human antibodies to better target cancer cells without damaging healthy cells. It currently has four drugs on the market that should generate revenue of $2.2 billion in 2023. Seagen also has 11 more treatments in various stages of clinical trials. Pfizer will pay $43 billion, which includes Seagen’s debt. To put that in context, Pfizer’s market cap (the total value…