2 High-Yielding Dividend Stocks Trading Near 52-Week Lows
A good incentive for buying a strong dividend stock that's underperforming is that you can secure a higher yield. As long as the business's fundamentals remain sound, you can benefit from the better-than-usual payout as well as from the potential capital appreciation it generates if the stock rebounds and rises in value.
Two relatively cheap healthcare stocks offering above-average yields and that are trading near their 52-week lows are Pfizer (NYSE: PFE) and AbbVie (NYSE: ABBV). Here's why you should consider investing in them today.
In the past year, shares of Pfizer fell 14%, which is worse than the S&P 500 (down around 7%). Investors are bearish on the healthcare company's prospects as it looks to try and offset the inevitable decline in COVID-19-related revenue. While its vaccine (Comirnaty) and medication (Paxlovid) will still generate revenue for the business this year, the drop-off is enough for Pfizer to project that its total revenue will drop by around 30% this year, to no more than $71 billion (sales topped $100 billion in 2022).
Source Fool.com
