Legendary Value Investor Joel Greenblatt’s 5 Dividend Stock Picks

3. Pfizer Inc. (NYSE:PFE)

Gotham Asset Management’s Stake Value: $22,054,000

Dividend Yield as of March 25: 3.03%

Number of Hedge Fund Holders: 83

Pfizer Inc. (NYSE:PFE) is an American company that manufactures and markets biopharmaceutical products worldwide. Joel Greenblatt’s Gotham Asset Management owns 373,485 shares of Pfizer Inc. (NYSE:PFE), valued at more than $22 million.

On December 10, Pfizer Inc. (NYSE:PFE) declared a $0.40 per share quarterly dividend, a 2.6% increase from its prior dividend of $0.39. The dividend was paid on March 4.  The stock yields 3.03% as of March 25, and it is one of the fund’s top dividend picks for Q4. 

Mizuho analyst Vamil Divan on February 10 lowered the price target on Pfizer Inc. (NYSE:PFE) to $55 from $56 and reiterated a Neutral rating on the shares. While the initial fiscal 2022 guidance may have disappointed some investors, the analyst believes there is “room for significant upside” in Pfizer Inc. (NYSE:PFE)’s product pipeline. 

Among the hedge funds tracked by Insider Monkey, 83 funds were bullish on Pfizer Inc. (NYSE:PFE) at the end of December 2021, compared to 74 funds in the prior quarter. Coatue Management owns a prominent position in the company, with 10.3 million shares worth approximately $609 million. 

Here is what Saturna Capital Amana Funds has to say about Pfizer Inc. (NYSE:PFE) in its Q3 2021 investor letter:

“The Fund’s strongest performer during the quarter was pharmaceutical manufacturer Pfizer. The company submitted trial data to the FDA for use of its COVID-19 vaccine for younger children, and it is widely expected that the FDA will approve it. Health authorities also began recommending booster shots of the Pfizer vaccine for select populations, further increasing demand for vaccinations.”