Guy Adami: Pfizer a Buy at This Price
Out of three blue-chip stocks that saw an increased dividend Monday, “Fast Money” pro Guy Adami liked one of them: Pfizer.
Drug maker Pfizer announced it would raise its dividend 10 percent to 22 cents per share, payable March 6. The stock closed at $20.39, down 0.83 percent.
Adami said at this price, Pfizer was a buy: “I’m a PFE fan.”
Anthony Scaramucci of SkyBridge Capital agreed.
“You’re seeing all the right trends there,” he said. “It’s a very cheap stock and it’s set up nicely for 2012.”
Boeing increased its dividend 5 percent to 44 cents per share, and Ingersoll-Rand upped its dividend 33 percent to 16 cents.
Adami said IR stock, down 31.8 percent year to date, was “effectively grim death” for anyone who’s owned it.
Ingersoll-Rand shares dropped 2.87 percent to close at $32.11.
“You want a stock’s dividend to grow because they raise the dividend as the stock continues to go up,” he said. “They raised the dividend, yes, but it grows also because the stock continues to get lambasted.”
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Trader disclosure: On Dec. 12, 2011, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders: Seymour is long AAPL; Seymour is long BAC; Adami owns C; Adami owns GS; Adami owns MSFT; Adami owns INTC; Adami owns AGU; Adami owns NUC; Adami owns BTU; Terranova is long ; Terranova is long SU; Terranova is long CAT; Terranova is long CNI; Terranova is long LQD; Terranova is long MUB; Terranova is long IBM; Terranova is long EMC; Terranova is long SWN; Terranova is long SBUX; Finerman is long AAPL calls; Finerman is long BAC; Finerman is long GLW; Finerman’s firm is long AAPL; Finerman’s firms is long JPM; Finerman’s firm is short IBM calls; Finerman’s firm GLW; Nations is long SPY; Nations is long C;
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