5 Cheap DRIP Stocks To Buy Now

4. Pfizer Inc. (NYSE:PFE)

P/E Ratio as of January 25: 8.57
Share Price as of January 25: $43.80

An American multinational biotech company, Pfizer Inc. (NYSE:PFE) is another cheap DRIP stock on our list. The company’s reinvestment plan is available to stakeholders for either all or a portion of their company’s shares. With a share price of $43.8 and a P/E ratio of 8.57, the company is among the cheap DRIP stocks on our list.

Wells Fargo appreciated Pfizer Inc. (NYSE:PFE)’s data on the treatment of hemophilia B in December and raised its price target on the stock in December to $54, with an Overweight rating on the shares.

On December 9, Pfizer Inc. (NYSE:PFE) declared a quarterly dividend of $0.41 per share, raising it by 2.5%. This was the company’s 13th consecutive year of dividend growth. The stock’s dividend yield on January 25 came in at 3.74%.

The number of hedge funds tracked by Insider Monkey owning stakes in Pfizer Inc. (NYSE:PFE) stood at 77 in Q3 2022, compared with 70 in the previous quarter. The consolidated value of these stakes is over $2.4 billion.

AQR Capital Management was the company’s leading stakeholder in Q3.

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.”