2 Dividend Stocks Trading at Dirt-Cheap Prices
The COVID-19 pandemic is affecting our social lives, as governmental authorities in most U.S. states have implemented drastic measures -- including social distancing -- to mitigate the spread of the disease. The outbreak also continues to wreak havoc on equity markets. Year to date, the S&P 500 is down by 20% (at writing), and things could get worse before they get better.
The silver lining for investors -- if there is one -- is that many stocks are now trading at dirt-cheap prices. And while it's important to note that nothing, including dividends, is certain in today's market, some great dividend stocks are on sale. In particular, here are two that you can currently buy for a discount: AbbVie (NYSE: ABBV) and Pfizer (NYSE: PFE).
Pharma giant AbbVie hasn't performed particularly well of late. Last year, the company's shares slid by about 4%, while the S&P 500 climbed by almost 29%. The reason behind AbbVie's poor performance in 2019 isn't a secret: Sales of the company's blockbuster drug Humira -- which treats several autoimmune disorders including plaque psoriasis and rheumatoid arthritis -- have been declining in Europe because of competition from biosimilars. Humira still accounts for the bulk of AbbVie's revenue.
Source Fool.com
