14 Best Affordable Stocks to Buy According to Hedge Funds

2. Pfizer Inc. (NYSE:PFE)

Number of Hedge Fund Holders: 92

Share Price as of March 22: $26.28

P/E Ratio as of March 22: 18.64

Pfizer Inc. (NYSE:PFE) is a global pharmaceutical giant that develops and sells medicines and vaccines for heart health, infectious diseases, migraines, immune disorders, and cancer. On March 11, Pfizer and Arvinas, a clinical-stage biotechnology company, announced promising results from a late-stage trial for vepdegestrant, a new experimental oral drug for advanced breast cancer. The drug is meant to slow down cancer growth in patients with a specific gene mutation better than the current treatment, fulvestrant. The drug was generally well tolerated, and further studies on survival rates are ongoing. The FDA has given it Fast Track status, meaning it could get approved faster if further results are positive.

In 2024, Pfizer Inc. (NYSE:PFE) raked in $63.6 billion in revenue, up from $59.6 billion the year before. Even without COVID-related products, sales grew by 12% year-over-year, beating Street expectations. The company gave back $9.5 billion to shareholders through dividends, invested $10.8 billion in research and development, and made reducing debt a priority, paying off $7.8 billion, including $2.3 billion in maturing debt and $5.5 billion in short-term loans during 2024. Pfizer’s goal is to further cut debt by the end of 2025. It is one of the best affordable stocks to invest in.

According to Insider Monkey’s fourth quarter database, 92 hedge funds were long Pfizer Inc. (NYSE:PFE), compared to 80 funds in the previous quarter. Ric Dillon’s Diamond Hill Capital is the leading stakeholder of the company, with 18.6 million shares amounting to $494 million.