Stocks have been pounded all year long, and many of those taking the biggest hit are in the Nasdaq composite index, which as of Friday’s close was officially in bear market territory. That means a 20% decline from highs. While income and growth investors may not look to the Nasdaq for total return, as all 30 of the Dow Jones industrial average members and 400 of the 500 companies in the S&P 500 pay dividends, there are some gems in the index that make sense for investors now.
[in-text-ad]
We screened the Nasdaq looking for the five highest-yielding companies, then we cross-referenced those companies through our 24/7 Wall St. research database and found that all five are among some of the best and most timely ideas on Wall Street now.
It is important to remember that no single analyst report should be used as a sole basis for any buying or selling decision.
Here are the five highest-yielding Nasdaq stocks.
[nativounit]
Gilead Sciences
This company is trading a very reasonable 9.05 times estimated 2022 earnings and has big-time upside potential. Gilead Sciences Inc. (NASDAQ: GILD | GILD Price Prediction) is a research-based biopharmaceutical company that discovers, develops and commercializes medicines in the areas of unmet medical need in the United States, Europe and elsewhere.
The company provides Biktarvy, Genvoya, Descovy, Odefsey, Truvada, Complera/Eviplera, Stribild and Atripla products for the treatment of human immunodeficiency virus (HIV) infection; Veklury, an injection for intravenous use, for the treatment of coronavirus disease 2019; and Epclusa, Harvoni, Vosevi, Vemlidy and Viread for the treatment of liver diseases. It also offers Yescarta, Tecartus, Trodelvy and Zydelig products for the treatment of hematology, oncology and cell therapy patients.
In addition, Gilead provides Letairis, an oral formulation for the treatment of pulmonary arterial hypertension; Ranexa, an oral formulation for the treatment of chronic angina; and AmBisome, a liposomal formulation for the treatment of serious invasive fungal infections.
The company has collaboration agreements with Arcus Biosciences, Pionyr, Tizona, Tango Therapeutics, Jounce Therapeutics, Galapagos, Janssen, Japan Tobacco, Gadeta, Bristol-Myers Squibb, Merck and Novo Nordisk.
Gilead Sciences stock investors are happy to take a 5.03% dividend to the bank every quarter. Oppenheimer has a Buy rating and the highest price objective on Wall Street of $90. That compares with the $73.10 consensus target and Friday’s closing share price of $58.00.
[recirclink id=1065595]
Kraft Heinz
Even in tough times, everyone has to eat, and this company stands to benefit. Kraft Heinz Co. (NASDAQ: KHC) was formed six years ago via the merger of H.J. Heinz and Kraft Foods. The company is a leading global food company, with $29 billion of annual revenues generated by such well-known brands. It is the third-largest food and beverage manufacturer in North America, deriving 76% of revenues from that market and 24% internationally.
The company’s brands include not only Kraft and Heinz but also Oscar Meyer, Maxwell House, Capri Sun, Classico, Jell-O, Kool-Aid, Lunchables, Ore-Ida, Oscar Mayer, Philadelphia, Planters, Plasmon, Quero, Weight Watchers Smart Ones and Velveeta.
Also note that legendary investor Warren Buffett holds a big position of the stock in Berkshire Hathaway.
[in-text-ad]
Shareholders receive a 4.28% dividend. The BofA Securities price target on Kraft Heinz stock is $48. The consensus target is lower at $40.79, and shares closed on Friday at $37.36.
Walgreens
This huge drugstore chain operator is a safe retail play for investors looking to add health care now. Walgreens Boots Alliance Inc. (NASDAQ: WBA) operates as a pharmacy-led health and beauty retail company. It operates through three segments.
The Retail Pharmacy USA segment sells prescription drugs and an assortment of retail products, including health, wellness, beauty, personal care, consumable, and general merchandise products through its retail drugstores. It also provides specialty pharmacy services and mail services; this segment operates nearly 10,000 retail stores under the Walgreens and Duane Reade brands in the United States; and six specialty pharmacies.
The Retail Pharmacy International segment sells prescription drugs and health and wellness, beauty, personal care and other consumer products through its pharmacy-led health and beauty stores and optical practices, as well as online and an integrated mobile application. This segment operated 4,428 retail stores under the Boots, Benavides and Ahumada in the United Kingdom, Thailand, Norway, the Netherlands, Mexico and elsewhere, and 550 optical practices, including 165 on a franchise basis.
The Pharmaceutical Wholesale segment engages in the wholesale and distribution of specialty and generic pharmaceuticals, health and beauty products, and home health care supplies and equipment, as well as provides related services to pharmacies and other health care providers.
Investors receive a 4.03% dividend. Baird’s Outperform rating comes with a $68 price target. The consensus target for Walgreens Boots Alliance stock is $53.55. The shares closed on Friday at $47.44 apiece.
[recirclink id=1065438]
Amgen
This biotech giant remains a top stock for investors to buy, and it has sold off since last summer and offers one of the best entry points in years. 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 with 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
[in-text-ad]
Shareholders receive a 3.39% dividend. The $280 Jefferies target price on the Buy-rated stock is higher than the $248.49 consensus target. Friday’s final trade for Amgen stock came in at $228.85.
[recirclink id=1064534]
Intel
This legacy leader in semiconductors has continued working hard to focus more on Internet of Things and data center cloud spending. Intel Corp. (NASDAQ: INTC) designs, manufactures and sells integrated digital technology platforms worldwide.
The platforms are used in various computing applications, comprising notebooks, two-in-one systems, desktops, servers, tablets, smartphones, wireless and wired connectivity products, wearables, retail devices and manufacturing devices, as well as for retail, transportation, industrial, buildings, home use and other market segments.
The company announced in January it would invest up to $100 billion to build potentially the world’s largest chip-making complex in Ohio, looking to boost capacity as a global shortage of semiconductors affects everything from smartphones to automobiles.
Shareholders receive a 3.19% dividend. Intel stock has an Outperform rating and a $70 price target at Credit Suisse. The consensus target is $54.08, and the stock closed at $45.83 on Friday.
[wallst_email_signup]
All these great companies have been hit during the 2022 sell-off, and they are offering patient investors with a long-term horizon some of the best entry points in years. All are among the best companies in their respective sectors, and all have serious upside potential from current trading levels.
Top Gaining Stocks
Top Losing Stocks