3 of the Best Dividend Stocks to Buy in October
Last month was another tough one for the markets, with the S&P 500 falling 9%. Year to date, the index has now plummeted 24% and taken many quality stocks down along with it. The good news for long-term investors is that many beaten-down stocks won't stay down for long. That means buying today, as perilous as the situation may look, could allow you to lock in some high-yielding stocks at cheap valuations.
Three dividend stocks that stand out as being among the most promising buys right now are Pfizer (NYSE: PFE), Suncor Energy (NYSE: SU), and Verizon Communications (NYSE: VZ). Here's why you should consider adding these stocks to your portfolio today.
Pharmaceutical giant Pfizer is down 26% this year, performing in line with the broader markets. However, given the popularity of its COVID-19 vaccine and the company's ability to adapt to changing conditions, it's a bit surprising that investors are only valuing the business at nine times earnings. Although its bottom line will likely decline as fears around the coronavirus continue to subside, its COVID-related revenue won't disappear entirely; health officials are still administering booster shots, and there's still no telling if and when that will end.
Source Fool.com
