It is hard to believe, but after a very positive double-digit year for stocks, only two months remain in 2021. Now is the time when many investors will be reviewing their portfolios and making changes for the final eight weeks of the year and 2022. One thing is for sure: the Federal Reserve will start tapering their $120 billion per month of asset purchases later this month, cutting $15 billion in bond purchasing. While Fed Chair Jay Powell has made the intentions very clear regarding the tapering, that doesn’t mean some added volatility couldn’t be part of the mix as we close out the year.
It makes sense now to move from the momentum and meme stocks to more conservative large-cap stocks that pay dividends. We screened the Dow Jones industrials looking for the high-yielding companies in sectors that look to benefit from the continued reopening of the economy. We also screened for stocks that have traded down this year and are offering some of the best entry points in some time.
While all are rated Buy at major Wall Street firms, it is important to remember that no single analyst report should be used as a sole basis for any buying or selling decision.
This biotech giant remains a top stock for investors to buy and a safer way to play the massive potential growth in biosimilars. Amgen Inc. (NASDAQ: AMGN) discovers, develops, manufactures and delivers human therapeutics worldwide. It focuses on inflammation, oncology/hematology, bone health, cardiovascular disease, nephrology and neuroscience.
The company’s products include the following:
- Enbrel to treat plaque psoriasis, rheumatoid arthritis and psoriatic arthritis
- Neulasta reduces the chance of infection due a low white blood cell count in patients cancer
- Prolia to treat postmenopausal women with osteoporosis
- Xgeva for skeletal-related events prevention
- Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis and oral ulcers associated with Behcet’s disease
- Aranesp to treat a lower-than-normal number of red blood cells and anemia
- Kyprolis to treat patients with relapsed or refractory multiple myeloma
- Repatha, which reduces the risks of myocardial infarction, stroke and coronary revascularization
Amgen also markets Nplate, Vectibix, Mvasi, Parsabiv, Epogen, Kanjinti, Blincyto, Aimovig, Evenity, Amgevitatm, Sensipar/Mimpara, Neupogen, Imlygic, Corlanor and Avsola. The company’s five key marketed products are among the top-selling pharmaceutical products in the world, with the company having expected collective revenues of more than $25 billion in 2021.
Shareholders receive a 3.28% dividend. BMO Capital Markets has a Wall Street high $301 price target on Amgen stock. The consensus target is just $249.38, and the final trade for Thursday came in at $214.93.