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RSSPatience Paying off, Pfizer May Have Turned the Corner
Not too long ago I was really bummed with my Pfizer investment. I have been steady investing in Pfizer stock since 2001 all the while the share price pretty consistently losing value.I thought Pfizer was a great company and a good long term value. I know I can't time the market so I have been continuing to invest in Pfizer because I see this as a great opportunity to get a discount on one of the greatest pharmaceutical companies in the world.
It looks to me as though Pfizer may have at least stopped the bleeding over the past week with 2 major news announcements. Last Tuesday, Pfizer announced a 26.3% rise of its dividend , a nice bonus for long term shareholders that Pfizer has consistently rewarded with 39 years of annual dividend increases. Then on Friday, a US court ruled in Pfizer's favor on a Lipitor patent dispute that has a major impact on Pfizer sales performance for the next couple of years.
I expect Pfizer shares have had a bit of a bounce on this good news in today's trading and Warren Buffets old adage may yet hold true again.
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Comments (1)
DATE: 2:57 PM
I made a similar post on Monday after the verdict was announced (http://integrateit.kylewelsh.com/index.php?/permalink/pfizer.html) I didn't even know that dividend was increased - thanks for the info.
Posted by Kyle Welsh | September 10, 2006 3:05 PM