5 Best Pharma Dividend Stocks To Buy in 2023

4. Pfizer Inc. (NYSE:PFE)

Number of Hedge Fund Holders: 75

Pfizer Inc. (NYSE:PFE) is an American multinational pharmaceutical industry company, based in New York. In December 2022, the company declared a 2.5% hike in its quarterly dividend to $0.41 per share. This was the company’s 13th consecutive year of dividend growth, which makes it one of the best dividend stocks. The stock has a dividend yield of 3.98%, as of April 17.

In April, Barclays maintained an Equal Weight rating on Pfizer Inc. (NYSE:PFE) with a $43 price target, ahead of the company’s quarterly earnings.

As of the close of Q4 2022, 75 hedge funds in Insider Monkey’s database reported having stakes in Pfizer Inc. (NYSE:PFE), down from 77 in the previous quarter. These stakes have a collective value of over $2.5 billion.

Diamond Hill Capital mentioned Pfizer Inc. (NYSE:PFE) in its Q3 2022 investor letter. Here is what the firm has to say:

“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.”