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3 No-Brainer Pharmaceutical Stocks to Buy With $500 Right Now
Pharmaceutical stocks make fantastic long-term investments because they can excel in any market environment. Regardless of the economic situation, patients need their medicines and will continue to buy them, resulting in a certain steadiness in revenue and growth for pharma companies.
What’s a no-brainer pharma stock? It’s one that you can hold onto for the long term due to its solid portfolio of products and strong pipeline. This sort of company would have proven its strength by delivering earnings growth over time, and innovation may extend this strength well into the future.
Pharma companies also are known for paying dividends, offering you a guaranteed stream of annual revenue. Below are three no-brainer pharma stocks to buy now if you have $500 to invest.
1. Abbott Laboratories
Abbott Laboratories (NYSE: ABT) makes pharmaceuticals, but the company also has three other winning businesses: medical devices, diagnostics, and nutrition. This diversification is Abbott’s strength; if one business reaches a stumbling block, others can compensate. For example, today, a drop in coronavirus testing sales is weighing on the diagnostics business, but medical devices saw double-digit revenue growth in the recent quarter.
Abbott continues to grow, thanks to a steady flow of new product approvals, and has proven its ability to deliver returns to investors over time. The company is the most profitable healthcare stock ever for investors, according to a report by Hendrik Bessembinder at Arizona State University. Abbott stock delivered a cumulative compound return of 7,803,730% between 1937 and December of last year, the professor’s report showed.
Investors in this healthcare company also benefit from its commitment to dividend growth. Abbott is a Dividend King, meaning it’s raised the dividend payment annually for more than 50 consecutive years. This shows rewarding shareholders is a priority, suggesting the company will continue along this path.
On top of this, Abbott recently authorized a new repurchase program of up to $7 billion in stock — another effort to reward shareholders and demonstrate confidence in the company’s future.
2. Pfizer
Pfizer (NYSE: PFE) stock hasn’t made much of a move this year and has slipped nearly 30% over the past three years. The stock is trading today at a dirt cheap valuation of 11x forward earnings estimates, so now is a good time to get in on the stock.
The company has traversed tough times, posting a steep drop in coronavirus vaccine and treatment sales, but a whole new batch of new products, current blockbusters, and a big investment in the oncology business should significantly add to growth in the coming years. Pfizer predicts that new products outside of the coronavirus business should contribute $20 billion to 2030 revenue.
The acquisition of oncology specialist Seagen already has started to bear fruit, too. “Seagen products are contributing meaningfully to our revenue,” Chief Executive Officer Albert Bourla said in the latest earnings call. And the company is working toward a goal of launching at least eight blockbuster oncology medicines by 2030.
Though Pfizer isn’t a Dividend King, the company pays a dividend of $1.68 per share at a high yield of 5.6% and has committed to growing its dividend over time.
3. Johnson & Johnson
Johnson & Johnson (NYSE: JNJ) spun out its consumer health business last year into a separate entity — Kenvue — to focus on the higher-growth businesses of pharmaceuticals and medtech, and this move is proving to be a winner. The company reported operational sales growth of 6.3% for its innovative-medicines branch and 6.4% growth for medtech in the most recent quarter.
This marked the second-straight quarter of innovative-medicine sales surpassing $14 billion — and 11 of the company’s major brands soared in the double digits. In other impressive news, immunotherapy Darzalex became the first product in J&J’s portfolio to deliver $3 billion in sales in a single quarter. And recent approvals of Tremfya in ulcerative colitis and Rybrevant plus Lazcluze in non-small cell lung cancer should add to growth ahead.
As for medtech, recent acquisitions and divestitures positively impacted growth by nearly 3% in the quarter. Thanks to J&J’s purchases of Shockwave and Abiomed, the company has become a leader in four of the biggest and fastest-growing cardiovascular-intervention markets.
J&J’s solid financial situation — with $19 billion in free cash flow — should help it maintain its position as a Dividend King well into the future. It’s a fantastic buy for passive income, as well as long-term earnings growth.
Don’t miss this second chance at a potentially lucrative opportunity
Ever feel like you missed the boat in buying the most successful stocks? Then you’ll want to hear this.
On rare occasions, our expert team of analysts issues a “Double Down” stock recommendation for companies that they think are about to pop. If you’re worried you’ve already missed your chance to invest, now is the best time to buy before it’s too late. And the numbers speak for themselves:
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Amazon: if you invested $1,000 when we doubled down in 2010, you’d have $21,049!*
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Apple: if you invested $1,000 when we doubled down in 2008, you’d have $43,847!*
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Netflix: if you invested $1,000 when we doubled down in 2004, you’d have $378,583!*
Right now, we’re issuing “Double Down” alerts for three incredible companies, and there may not be another chance like this anytime soon.
*Stock Advisor returns as of October 14, 2024
Adria Cimino has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Abbott Laboratories, Kenvue, and Pfizer. The Motley Fool recommends Johnson & Johnson and recommends the following options: long January 2026 $13 calls on Kenvue. The Motley Fool has a disclosure policy.
3 No-Brainer Pharmaceutical Stocks to Buy With $500 Right Now was originally published by The Motley Fool
The habits of millionaires are a topic of interest when it comes to financial advice. After all, unless they received a large chunk of money as an inheritance or gift, most millionaires had to be smart with their money to get where they are.
Learning how millionaires accumulate wealth — and where they keep it — can provide valuable insights for anyone focused on growing their money. One common question is whether or not millionaires keep money in checking accounts.
Studies show that in recent years, millionaires are keeping a significant portion of their wealth in cash. According to CNBC’s , that portion was about 24% in 2023. While this doesn’t necessarily mean a quarter of a millionaire’s wealth is sitting in a checking account, it does indicate the importance of maintaining liquid assets. And a checking account can be a helpful tool for doing so — whether or not you’re a millionaire.
Anyone, regardless of net worth, can find value in a checking account. Checking accounts allow unlimited deposits and withdrawals, check writing, bill pay, and other features to help you manage your money day-to-day.
While millionaires may keep large portions of their wealth in other deposit accounts and investments, some may use a checking account to manage daily spending. Millionaires also recognize the importance of having liquid assets, like funds in checking and savings accounts. Accessible cash lets you cover unexpected expenses without needing to sell off investments, borrow money, or pay a penalty for tapping your retirement savings early.
The amount of money a millionaire keeps in their checking account is highly personal and depends on preference. However, because checking accounts rarely earn competitive — if any — interest, some millionaires intentionally limit their checking account balance. Some may choose to keep the bare minimum, such as a couple of months’ worth of essential expenses, in their checking accounts, keeping the rest of their wealth in more lucrative assets.
Regardless of preference, it would be surprising for a millionaire to keep more than $250,000 in a single checking account. That’s because the Federal Deposit Insurance Corp. (FDIC) only insures up to $250,000 in deposits per institution, per account holder.
While millionaires may use checking accounts for day-to-day financial transactions, they may also use some of the following accounts in addition to, or in place of, a checking account:
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Savings accounts: Like checking accounts, savings accounts provide a high degree of liquidity, allowing you to access your money as needed for regular or unexpected expenses. High-yield savings accounts, in particular, give millionaires an extra bang for their buck. Some of the best accounts currently offer rates upwards of 4% versus the national average savings account rate of 0.46%.
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Cash management accounts: Cash management accounts (CMAs) pay competitive interest rates while maintaining more accessibility than a savings account. Some CMAs come with a debit card and ATM access, and many provide extended FDIC coverage limits by “sweeping” additional deposits into partner banks. CMAs are available at brokerages, not banks, facilitating easy transfers between investment and cash accounts.
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Money market accounts: Similar to CMAs, money market accounts combine features of checking and savings accounts, often paying competitive interest rates and providing check writing and ATM access. Banks and credit unions offer these accounts, which are federally insured. Minimum opening deposit and minimum balance requirements are often higher than those for standard savings accounts.
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Retirement and tax-advantaged accounts: Millionaires understand the importance of investing for their later years, and retirement accounts such as 401(k)s and IRAs allow them to do so in a tax-advantaged way. Some retirement accounts, like 401(k)s, are offered by certain employers. Others, such as traditional and Roth IRAs, are available to anyone.
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Brokerage accounts: The IRS limits contributions to tax-advantaged accounts, and millionaires typically invest beyond these limits. They do so with taxable brokerage accounts, which can hold investments such as stocks, bonds, and mutual funds without contribution limits.
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Other investments, like real estate, commodities, and art: Some millionaires may decide to diversify their portfolio with other investment types. These could include real estate investments, such as investment properties or real estate investment trusts (REITs); commodities, such as metals or energy products; art; and more.
The amount of money millionaires keep in their checking accounts depends on personal preference. While some millionaires may keep six figures in their checking account to maintain a comfortable cash cushion, others may choose to keep the bare minimum in checking. You wouldn’t expect millionaires to keep more than $250,000 in a checking account, however, because balances over this threshold aren’t typically insured.
There’s no single bank that’s a favorite among millionaires; it’s another matter of preference. However, millionaires are likely to bank with institutions that offer private banking to those who meet specific financial requirements. Private banking may include wealth planning services, waived fees, dedicated bankers, and additional perks. J.P. Morgan Private Bank, Citi Private Bank, and Bank of America Private Bank are among some of the most popular banks for millionaires.
Billionaires may have checking accounts, but they likely use accounts that cater to ultra-high-net-worth individuals. These accounts may come with perks such as a dedicated banker, waived fees, and competitive interest rates. Alternatively, billionaires may opt for a cash management account with higher FDIC insurance coverage limits and checking account features.
No rule says you can’t have a million dollars in a checking account, but FDIC insurance typically only covers up to $250,000. Plus, you can get a bigger return on your investment by keeping $1 million elsewhere. One alternative is a cash management account, which acts like a checking account but generally earns higher interest. Plus, many cash management accounts insure more than the standard $250,000 by sweeping funds into multiple partner banks.
Lumen Technologies, Inc. (NYSE:LUMN) shares are trading higher on Monday after the company announced it is partnering with Meta Platforms, Inc. (NASDAQ:META) to significantly increase Meta’s network capacity and help drive its AI ambitions.
Lumen’s partnership offers Meta enhanced flexibility with secure, on-demand bandwidth, supporting its complex computing requirements and enabling it to serve billions daily.
Ashley Haynes-Gaspar, Lumen’s EVP and chief revenue officer, said, “We’ve transformed our company to meet this demand. As Meta’s customers use more AI services across its platforms, we’re helping provide Meta with a seamless, effortless, and flexible network that will meet its growing needs.”
Lumen Technologies said its Private Connectivity Fabric enables long-term network capacity for Meta’s AI.
Alex-Handrah Aimé, director of Meta’s Network Investments stated, “Our AI tools are performing increasingly more complex tasks including enabling conversations in a variety of languages and translating text to images in real time, while helping people interact with the world around them in new, immersive ways.”
Lumen will report third quarter 2024 results on November 5, 2024.
Investors can gain exposure to the stock via Invesco S&P SmallCap Utilities & Communication Services ETF (NASDAQ:PSCU) and First Trust Cloud Computing ETF (NASDAQ:SKYY).
Price Action: LUMN shares are up 9.50% at $7.38 at the last check Monday.
Image via Shutterstock
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This article Lumen And Meta Join Forces To Boost AI With Flexible, On-Demand Network Solutions originally appeared on Benzinga.com
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CoinShares said the United States and Bitcoin led crypto investment product dynamics last week amid growing optimism over a potential Republican election win in the US.
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