As a Billionaire Activist Takes a Stake, Is Now the Time to Buy Pfizer Stock?

Shares of Pfizer (NYSE: PFE) have been stuck in the mud since December 2022, with its shares down more than 45% over that stretch. Despite its underwhelming performance, many individual investors are attracted to the drug giant's robust dividend, with the stock now having a forward dividend yield of about 5.7%. And despite its performance, one large institutional investor just revealed a billion-dollar bet on the company.According to the Wall Street Journal, the activist-investor hedge fund Starboard Value, run by billionaire Jeffrey Smith, has taken a $1 billion stake in the company and is looking to help turn it around.The question for individual investors: Should you follow suit and pick up shares of Pfizer?Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool