The U.S. stock market has been under pressure recently due to fears of an economic slowdown, but dividend-paying names can help smooth the ride for investors.
Shibutani said that while management didn't provide any significant updates related to the company's obesity programs, he does see the"scope for further beat and raise quarters during the balance of the year." He also noted that the company's capital allocation priorities, mainly dividends and debt reduction, remain intact.
Commenting on the revised shareholder-return program, Janela said that it gives the company"flexibility to lean more heavily into buybacks, which should resonate with investors and sets up positively into the meaningful FCF expansion ahead in 2H24." Janela ranks No. 406 among more than 8,900 analysts tracked by TipRanks. His ratings have been successful 52% of the time, delivering an average return of 25.6%. (Seefor the second quarter. The company, which is seeing solid generative artificial intelligence business, now expects full-year free cash flow to be more than $12 billion compared to its previous forecast of about $12 billion.to shareholders in dividends in the second quarter. The stock offers a dividend yield of 3.5%.
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