Stock market crashes and corrections happen. Since the beginning of the year, the S&P500 fell by more than 17%. In fact, since the end of World War II, the benchmark has fallen more than 10% about 30 times.
A bear market of at least a 20% decline will also eventually reoccur, possibly even this month. Soaring inflation, stubborn supply chain issues and a Federal Reserve determined to raise interest rates to combat runaway price increases make the likelihood all the greater.
St. Louis Fed President James Bullard said it was a “fantasy” to believe that the worst inflation the United States had seen in 40 years could be brought under control by tiptoeing around it . He indicated the need for aggressive interest rate hikes to the point where economic growth stalls, and perhaps even contracts.
But even if a bear market were to occur, it is important to keep these downturns in perspective. The Schwab Center for Financial Research says the average bear market only lasted about 17 months.
This suggests that investors should not cower in the face of a downside, but rather be ready to take action. The following three supercharged dividend stocks are good bets to get you through the low points of any correction and beyond.
Pharmaceutical giant AbbVie (ABVV -0.51%) still relies on blockbuster anti-inflammatory drug Humira for the bulk of its revenue – $4.7 billion in the first quarter, or 35% of the total $13.5 billion generated – but the biosimilar boom will end by wreaking havoc.
Internationally, Humira’s revenue fell 22% in the quarter to $743 million due to new competition, and will start appearing in the United States next year when Humira will have lost his patent. But the cliff is not as steep as once thought. Humira has multiple indications for which it is approved in the United States and abroad, so it will remain a growing therapy for years to come despite the presence of biosimilars.
And AbbVie has other great drugs growing as well. Skyrizi’s revenue reached nearly $1 billion in the first quarter, an increase of 66%, and represents 23% of total prescription share in the US biologics market. Meanwhile, rheumatoid arthritis treatment Rinvoq saw its revenue jump 57% to nearly $500 million. AbbVie’s neuroscience portfolio also contributed some $1.5 billion in revenue (up 20%) and its aesthetics portfolio brought in another $1.4 billion (up 22.5%). ).
AbbVie is a growing company and pays a dividend of 3.7% per year. Since its debut in 2013 as a spin-off of Abbott Laboratories, AbbVie has increased its dividend by more than 250% and has increased it every year. Heir to Abbott’s dividend history, he is also considered a dividend aristocrat.
Pfizer (DFP -0.93%) is another pharmaceutical giant which, after the start of the pandemic, has focused on its COVID-19 vaccines. Comirnaty, the vaccine he developed with BioNTech, generated $13.2 billion in sales in the first quarter as global adoption of pediatric and booster injections increased. This represents 89% of Pfizer’s vaccine portfolio as well as 51% of total sales. While the pharmaceutical company is now seeking approval for booster shots for ages 5-11, this niche still has plenty of legs for further growth.
Paxlovid, Pfizer’s oral COVID treatment, also gained traction, with year-over-year growth of 72%, despite unfavorable exchange rates. It generated nearly $1.5 billion in sales and is expected to contribute $22 billion for the full year based on supply deals signed so far this year.
With Comirnaty expected to generate $32 billion in full-year sales, the two treatments will represent between 53% and 55% of full-year revenue. The rest of its Covid-related portfolio brings that figure to around 60% of the total, raising concerns that Pfizer is too reliant on COVID-19 products.
This is certainly the case right now. But with more than two dozen Phase 3 trials underway, Pfizer has an above-average chance of finding more than a few winning treatments to bolster its business once the immediacy of the COVID-19 threat fades.
The shares are also trading at a steep discount of 11 times earnings and 9 times next year estimates, as well as at just 13 times free cash flow. With a dividend of 3.2% per year, it has paid since 1980 and has increased the dividend every year since 2009 (it had cut its dividend in half earlier that year when it went to buy Wyeth).
Walgreens Boot Alliance
Healthcare retailer Walgreens Boot Alliance (WBA 0.90%) is down 17% so far in 2022, but the coming recession is unlikely to be a major factor in the rise and fall of pharmaceutical stocks. Regardless of the economy, people get sick, perhaps even more so in times of crisis.
But Walgreens followed a cost-cutting program that wiped out $2 billion in spending ahead of schedule, while its transformation plan is said to be on track to generate $3.3 billion in annual savings by then. fiscal year 2024 (which begins in September next year) .
Although hiccups in its second-quarter earnings caused investors to dump its shares, sales continued to grow, operating profit rose and its business footprint recorded comparable record sales with a gain of nearly 15 %. It’s also a strong dividend stock, with 46 consecutive years of payout increases, putting it on track to become a dividend king in a few years. And because his financial situation is strong and can easily cover his payment, that shouldn’t be a problem.
With a generous 4.4% dividend and its stock even cheaper than Pfizer at just six times earnings and eight times estimates (its free cash flow multiple is slightly higher at nearly 19), it’s a good choice for a dividend-growing stock to settle in safely during market turmoil.
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