5 Most Undervalued Stocks to Buy Now

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1. Pfizer Inc. (NYSE:PFE)

PE Ratio as of November 4: 9.22

Number of Hedge Fund Holders: 70

Pfizer Inc (NYSE:PFE) is trading at a bargain right now and is presenting an attractive opportunity for investors to rack up shares of an industry leader into weakness. As of November 4, the stock has a price-to-earnings ratio of 9.22 and is offering investors a forward dividend yield of 3.44%. The stock is ranked high among the best undervalued stocks to invest in right now.

On November 1, Pfizer Inc. (NYSE:PFE) reported strong earnings for the fiscal third quarter of 2022. The company reported an EPS of $1.78 and outperformed estimates by $0.38. The company generated a revenue of $22.6 billion for the quarter. Shortly after the company’s earnings release, Barclays analyst Carter Gould raised his price target on Pfizer Inc. (NYSE:PFE) to $49 from $44 and maintained an Equal Weight rating on the shares.

At the close of Q2 2022, 70 hedge funds were bullish on Pfizer Inc. (NYSE:PFE) and held stakes worth $2.80 billion in the company. Of those, AQR Capital Management was the top investor and held a position worth $553.9 million in the company.

Here is what Diamond Hill Capital had to say about Pfizer Inc. (NYSE:PFE) in its third-quarter 2022 investor letter:

“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.

Follow Pfizer Inc (NYSE:PFE)

You can also take a look at Best Biotech Stocks Under $10 and 10 Best Small Cap Stocks To Buy Now.

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