3 Stocks That Can Help You to Get Richer in 2024 and Beyond

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3 Stocks That Can Help You to Get Richer in 2024 and Beyond

If you’re looking to invest in order to get richer, that’s great — because most of us need to be amassing a war chest for retirement (not to mention other financial goals, such as a down payment for a home and college tuition for kids). The simplest, and arguably best, long-term road to riches for most of us is investing in one or more

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or an even broader index fund or both.

If you want to aim higher, though, you might aim to invest in the stock of some high-quality companies, ideally when their shares are on *****. Here are three companies with promising futures to consider.

1. Pfizer

Pharmaceutical giant Pfizer (NYSE: PFE) has long been a familiar name, and it became more so during the early years of the pandemic once its vaccine was launched.

Nowadays, COVID vaccine isn’t being administered as quickly, though, which has hurt Pfizer’s profitability. Still,

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starting with its dividend, which recently featured a hefty yield of 5.8%.

The yield is high because the stock has dropped. It was recently down some 15% over the past year, and with its recent price-to-sales ratio of 3 being below the five-year average of 3.3, the value looks appealing.

What matters most, though, is the long-term potential of the company, and Pfizer is looking to make up for lost revenue from vaccines and looming patent expirations on some drugs with new bestsellers from its pipeline. It has been focusing more heavily on oncology treatments lately and working with BioNTech on more vaccines.

2. Paycom

Paycom Software (NYSE: PAYC) is another stock with an appealing valuation: Its recent forward-looking price-to-earnings (P/E) ratio of 19 is well below the five-year average near 48. That valuation is appealing because the stock has dropped by more than half over the past year as of this writing.

Paycom offers a software platform to help companies manage payroll and human resources functions, among other things. Its financial results have taken a hit lately in part because its newer self-service Beti platform allows customers to get by with using fewer of the company’s services. That’s not a long-term problem, though, and the company ******** quite profitable, with a solid balance sheet that features no debt.

The company’s latest annual report shows about 36,800 clients, stored data for 6.8 million employees, and 23% compound annual revenue growth between 2020 and 2023. Paycom now offers a dividend too — currently yielding a little under 1% — reflecting management’s confidence that earnings will be reliable enough to support it.

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3. Gilead Sciences

Then there’s Gilead Sciences (NASDAQ: GILD), drawing attention with its recent dividend yield of 4.4%. The biotechnology company focuses most intently on **** (it’s the industry leader in **** treatments), viral hepatitis, COVID, and *******.

It’s busy with a pipeline of 54 more treatments in various stages of development. The company says, “We have the strongest and most diversified pipeline in our history and are on track to achieve our ambition, set in 2019, of delivering 10+ transformative therapies by 2030.”

Wall Street analysts have a positive consensus view of Gilead, expecting upside of around 20% if the company performs as expected. Bulls like the company’s **** cash pile, which could be deployed in buying smaller companies with compelling drugs in development or on the market, as well as the chance that some of its new drugs could become blockbusters.

That’s not a sure thing, but patient investors do get to collect those **** dividend payments while they wait. Gilead isn’t ******* on all cylinders right now, but it has plenty of potential. If you’re intrigued, read more about it.

With all of these portfolio candidates, you might jump right in if you’re convinced of their promise. If you’re not so sure, though, you could buy in installments over time — or just add them to your watch list, waiting for a more attractive entry price or auspicious company developments.

Should you invest $1,000 in Pfizer right now?

Before you buy stock in Pfizer, consider this:

The Motley Fool Stock Advisor analyst team just identified what they believe are the 

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for investors to buy now… and Pfizer wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.

Consider when Nvidia made this list on April 15, 2005… if you invested $1,000 at the time of our recommendation, you’d have $751,180!*

Stock Advisor provides investors with an easy-to-follow blueprint for success, including guidance on building a portfolio, regular updates from analysts, and two new stock picks each month. The Stock Advisor service has more than quadrupled the return of S&P 500 since 2002*.

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*Stock Advisor returns as of July 22, 2024

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has positions in Gilead Sciences, Paycom Software, and Pfizer. The Motley Fool has positions in and recommends Gilead Sciences, Paycom Software, and Pfizer. The Motley Fool recommends BioNTech Se. The Motley Fool has a

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was originally published by The Motley Fool

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#Stocks #Richer

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