2 Dirt Cheap Dividend Stocks to Buy With $1,000 Right Now
Yahoo Finance ·
Dividend investing is a proven way to earn above-average long-term returns. That's why top dividend stocks often attract large crowds of investors and trade at a premium. However, it's possible to find quality income stocks that are reasonably -- or even attractively -- valued, perhaps because they have faced challenges from which they will recover, but the market has yet to catch on. Let's consider two dividend stocks that fit this description: Pfizer ( PFE +1.45% ) and Bristol Myers Squibb ( BMY +2.24% ) . For dividend seekers with $1,000 to spare -- that isn't saved for bills or emergencies -- here's why it would be a great idea to invest in these stocks. In 2022, Pfizer became the first biopharmaceutical company to reach $100 billion in annual sales, mostly due to its dominance in the coronavirus market. But it's been pretty much downhill from there. The drugmaker was unable to sustain solid revenue from its COVID-19 products as vaccination and hospitalization rates declined. Also, Pfizer will face important patent cliffs by the end of the decade. The company's anticoagulant Eliquis, which it shares the rights to with Bristol Myers, will lose patent exclusivity. It's not surprising, then, that the company has lagged broader equities recently. However, the next five years could be transformational for the pharmaceutical giant as it advances important pipeline candidates. Pfizer has a deep pipeline, and multiple "shots on goal" should allow it to launch brand-new, highly successful products, eventually, even amid occasional clinical setbacks.
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