Some income investors might view (NYSE: PFE) stock as a falling knife to be avoided. After all, the big drugmaker's share price has already plunged more than 20% so far this year. Pfizer just reported steep revenue and earnings declines in its first-quarter update. It's guiding for revenue to sink by 31% in full-year 2023.

However, I think that there's a lot more to like about this pharmaceutical giant than meets the eye. In fact, Pfizer is one of the best high-yield dividend stocks you can buy today.

Different investors have different definitions of exactly what a high dividend yield is. My view is that any yield above the U.S. 10-Year Treasury yield qualifies. Currently, that's a little over 3.4%. Pfizer's yield of more than 4.2% easily tops that threshold.

Continue reading

Source Fool.com