5 Best Low Beta Stocks to Buy

In this article, we will take a look at the 5 Best Low Beta Stocks to Buy. If you want to see more stocks in this list, go to the 11 Best Low Beta Stocks to Buy

5. Pfizer Inc. (NYSE:PFE)

No. of Hedge Fund Holders: 77

Pfizer Inc. (NYSE:PFE) is a research-based, global biopharmaceutical company. The company discovers, develops, manufactures, markets, sells and distributes biopharmaceutical products worldwide.

Pfizer Inc.’s (NYSE:PFE) Q3 2022 revenues came in at $22.6 billion. There was a fall of 2% operationally over Q2 2022 principally due to exceptionally strong growth achieved in Q2 2022.

Over the course of next 18 months, the company expects to have up to 19 new products or indications in the market. The company has already begun co-promotion or commercialization earlier this year for 5 of these new products or indications. The company has raised and narrowed its FY 2022 adjusted diluted EPS guidance from $6.30 – $6.45 to $6.40 – $6.50.

Pfizer Inc. (NYSE:PFE) has been ranked 5^th on our list of 11 best low beta stocks to buy.

Pfizer Inc. (NYSE:PFE) was in 77 hedge funds’ portfolios at the end of Q3 2022, compared to 70 in the preceding quarter. At the end of the third quarter, combined value of their stakes was $2.44 billion.

The Goldman Sachs Group gave $47.00 price target on the shares of the company on November 8.

Diamond Hill Capital, an investment management company, released its “Large Cap Strategy” third-quarter 2022 investor letter. Here is what it said:

“Also among our bottom contributors were health care products manufacturer Abbott Labs, global pharmaceutical company Pfizer Inc. (NYSE:PFE), media and technology giant Alphabet, and insurance company American International Group (AIG). Although Pfizer continues to report strong performance of its core drugs, sales of its COVID vaccine and treatment have likely peaked and sales are expected to decline going forward. We remain optimistic about the company long term as we believe management is taking the company in the right direction, focusing R&D, and making strategic acquisitions with profits generated from COVID vaccine sales.”