December. Webster’s Dictionary defines it as “The twelfth and last month of the year.”
Cliched introductions. Webster’s Dictionary defines it as “This.”
All jokes aside, it is the end of the year and I hope you had a great 2022.
Today marks the final “3 Stocks I’m Buying” installment of the year. And what a year it’s been — at least for investing. The stock market’s gone up and down more than a roller coaster. And it’s probably caused a few people to get nauseous, too.
Personally, I think a lot of stocks are still overvalued. And I want to keep some cash on hand for great companies, once they‘re back on sale.
But that doesn’t mean there are no good investments right now.
Here are the three stocks I’m buying in December, 2022.
1. Medtronic plc ($MDT)
Medtronic makes and sells medical devices such as pacemakers and insulin pumps. The business is well established and has a fantastic track record.
The company has paid consistently rising dividends for the past 45 years.
And, Medtronic has compounded their annual dividend at a rate of roughly 8% per year for the past five years.
Right now, the stock is facing extremely negative sentiment due to short-term sales and revenue problems. This has knocked Medtronic down to a PE ratio of 14.45, while boosting the starting dividend yield to 3.57%.
I’m taking advantage of the bearish sentiment and initiating a position.
2. Haleon plc ($HLN)
I wrote about this stock last month, but Haleon is GlaxoSmithKline’s consumer healthcare spin-off.
GlaxoSmithKline will focus on developing new cutting-edge medicines, while Haleon will make and market dependable staples like Sensodyne toothpaste and Centrum vitamins.