This top pharmaceutical stock was one of the big winners in the COVID-19 vaccine race, and it could also see an increase in demand due to the new variant. Pfizer Inc. (NYSE: PFE) is a global biopharmaceutical company with a diversified portfolio of products and pipeline candidates.

Pfizer is one of the largest pharmaceutical companies in the world as measured by market capitalization and revenue, and it is a component of the Dow Jones industrial average. The company’s commercial operations are divided into two business segments: Innovative Health and Essential Health.

Germany’s BioNTech and Pfizer said they expect data “in two weeks at the latest” to show if their jab can be adjusted for the new variant. This means a response to the new variant could be much faster than the Delta variant response was.

Investors now receive a 2.94% annual dividend. The $0.39 per share dividend is expected to increase to $0.42.

Truist Securities has a $58 price target on Pfizer stock. The shares hit a multiyear high of $55.70 last week and traded at $53.50 Monday morning.

Stryker

This leading medical devices company is a big beneficiary in the aging of America thesis. Stryker Corp. (NYSE: SYK) operates through three segments, including its Orthopedics segment, which provides implants for use in hip and knee joint replacements and in trauma and extremities surgeries.

The MedSurg segment offers surgical equipment and surgical navigation systems, endoscopic and communications systems, patient handling, emergency medical equipment and intensive care disposable products, reprocessed and remanufactured medical devices, and other medical device products that are used in various medical specialties.

The Neurotechnology and Spine segment provides neurotechnology products, including those used for minimally invasive endovascular techniques; products for brain and open skull based surgical procedures; orthobiologic and biosurgery products, such as synthetic bone grafts and vertebral augmentation products; and minimally invasive products for the treatment of acute ischemic and hemorrhagic stroke.

The current dividend yield is 1.02%. The company is expected to raise the dividend by six cents per share to $0.69.

Morgan Stanley’s $305 price target is well above the $285.86 consensus target on Stryker stock and a recent share price of $253.50.

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These five top blue chip companies are expected to lift the dividends they pay to shareholders, and their stocks are rated Buy across Wall Street. Not only is increasing dividends and returning capital to investors important, but it also shows that the company is doing well and has the earnings and cash flow strength to increase the payouts.