Josh Brown Just Bought This Stock Trading At 11-Year Lows, Paying A 6.5% Dividend: 'They Always Find A Way To Rebuild'
Portfolio Pulse from Adam Eckert
Josh Brown of Ritholtz Wealth Management has increased his position in Pfizer Inc (NYSE:PFE) by 50%, citing the stock's current trading at an 11-year low and a 6.5% dividend yield as a prime investment opportunity. Despite the lack of near-term catalysts and a 60% drawdown due to slowing vaccine demand, Brown views Pfizer's acquisition of Seagen as a potential turning point, especially for oncology drugs. He plans to hold Pfizer shares for the long term, believing in the company's ability to rebuild and reorient.

March 05, 2024 | 8:37 pm
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Josh Brown has significantly increased his investment in Pfizer, highlighting its low price point, high dividend yield, and potential growth from the Seagen acquisition.
Pfizer's current low trading price combined with a high dividend yield and strategic acquisition of Seagen presents a compelling investment opportunity. Brown's increased stake and long-term investment plan signal confidence in Pfizer's potential for recovery and growth, likely influencing investor sentiment positively in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100