Is Pfizer a Great Dividend Stock?
Facing economic uncertainties or prolonged downturns, investors typically seek the safe haven of defensive stocks. Large multinational pharmaceutical companies fall into this category. Illness does not know or care about economic conditions, causing individuals to seek treatment for what ails them. While not entirely recession-proof, pharmaceutical companies can weather the storm better than many companies in other industries.
Stalwart Pfizer (NYSE: PFE) ranks third among the biggest of these giants. Only Johnson & Johnson and Swiss-based Roche Holdings have larger market capitalizations. The household name famous for blockbuster drugs like Lipitor, Lyrica, and Viagra expects 2020 to be a transformational year as it slims down to focus on high-value medicines to grow its bottom line.
Image source: Getty Images.
Source Fool.com
