Topic: How To Invest

Wall Street Stock Forecaster Hotline – Friday, May 6, 2022

Article Excerpt

PFIZER INC., $49.04, 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 Lyrica (epilepsy), Celebrex and Enbrel (arthritis), and Prevnar (pneumonia). Pfizer has raised its dividend rate each year since 2011. The latest increase came in March 2022 when the company lifted your quarterly payment by 2.6%. Investors now receive $0.40 a share instead of $0.39. The new annual rate of $1.60 yields a solid 3.3%. The drugmaker continues to benefit from strong demand for booster shots of its COVID-19 vaccine (formally called Comirnaty), which it developed in partnership with German drugmaker BioNTech (Nasdaq symbol BNTX). Comirnaty sales totalled $13.2 billion in the first quarter of 2022. Pfizer also recently started selling its new COVID-19 pill (called Paxlovid) in over 60 countries. Paxlovid sales totalled $1.5 billion in the quarter. Together, those COVID-19 products accounted for 57% of Pfizer’s overall first quarter sales of $25.66 billion. That…