Income stock

Pfizer

Pfizer (NYSE:PFE) was one of the most talked-about healthcare stocks of 2020, but its coronavirus vaccine success isn't the only reason for investors to buy the stock in 2021. The company's dividend is a significant draw for investors seeking income-generating stocks. With a current yield of 4.3%, Pfizer's dividend more than beats that of the average stock on the S&P 500. 

As the first company to win the U.S. Food and Drug Administration's coveted emergency use authorization for its coronavirus vaccine created with BioNTech, Pfizer's distribution efforts are already well underway in the U.S., the U.K, and across Europe. Each treatment course of the vaccine will cost approximately $39, and Pfizer is distributing hundreds of millions of doses of the vaccine between now and the end of next year.

Pfizer hasn't been immune to the economic impact of the coronavirus pandemic, and it reported modest operational revenue declines in each of the first three quarters of 2020. Fortunately, Pfizer's biopharma revenues grew 12%, 6%, and 4% during these quarters from the year-ago periods, reinforcing the underlying strength of its largest business segment.

 

The company's recent merger of Upjohn with Mylan to form a new leader in generics and biosimilars called Viatris will allow Pfizer to pass on some of its older products and focus on new avenues of growth. Management estimates that between now and the end of 2025, Pfizer will achieve a revenue compound annual growth rate of 6% or more. 

Vaccine hype aside, Pfizer's forward-looking growth trajectory looks better than ever, and the continued success of its biopharma division despite headwinds reiterates the company's strong foundation. Given the backlog of orders Pfizer intends to fulfill in 2021, its coronavirus vaccine should also add a notable source of blockbuster growth to its balance sheet, at least in the near term. If you like dividends (who doesn't?) and tend to be a more conservative investor, Pfizer's moderate, sustainable growth fueled by its top-notch portfolio of products could be a match made in heaven.

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