13 Best Cheap Dividend Stocks To Buy Right Now

3. Pfizer Inc. (NYSE:PFE)

Number of Hedge Fund Holders: 92

Forward P/E Ratio: 8.76

Pfizer Inc. (NYSE:PFE) is a pharmaceutical company that mainly manufactures, markets, and sells related products worldwide. In recent years, the company has focused on expanding its presence in oncology, including a major $43 billion acquisition of Seagen to strengthen its cancer treatment portfolio. It projects significant growth in this sector over the next five years, aiming to double its patient base by 2030 and introduce at least three new blockbuster drugs—each generating over $1 billion in annual sales. With oncology revenue rising 25% in 2024, the company’s growth momentum in this area is already gaining traction.

Pfizer Inc. (NYSE:PFE) reported a 12% operational revenue increase from its non-COVID products over the past year, underscoring its focus on strategic execution. The company successfully met its $4 billion net cost savings target through an ongoing cost realignment initiative and has now raised its goal to approximately $4.5 billion by the end of 2025. As part of its Manufacturing Optimization Program, Pfizer aims to achieve $1.5 billion in net cost savings by 2027, with the first benefits expected in the latter half of 2025. The company remains optimistic about restoring its pre-pandemic operating margins in the coming years.

Pfizer Inc. (NYSE:PFE), one of the best dividend stocks, currently pays a quarterly dividend of $0.43 per share, following a 2.4% increase in December 2024, extending its streak of annual dividend growth to 15 consecutive years. The stock supports a dividend yield of 6.5%, as of March 6.