Looking for Cheap Income Stocks? Why Pfizer Belongs on Your Shortlist Right Now

Pfizer's stock has fallen over 50% from late 2021 highs, pushing its dividend yield to a historically high 6.9%. While the company faces normal industry headwinds including upcoming patent expirations and disappointing new drug development, management remains committed to protecting the dividend. The company is taking steps to address challenges, including acquiring a weight-loss drug candidate after dropping its own GLP-1 drug. More aggressive dividend investors may find Pfizer's valuation compelling despite risks.