5 Best Dividend Achievers to Buy According to Hedge Funds

2. Bristol-Myers Squibb Company (NYSE: BMY)

Number of Hedge Fund Holders: 81
Dividend Yield: 2.9%
Number of Years of Consistent Dividend Growth: 15

Bristol-Myers Squibb Company (NYSE: BMY) operates in the pharmaceutical industry and is an American multinational corporation with headquarters in New York. It is among the world’s largest companies of its kind and has regularly made it to the Fortune 500 list of large US companies. The company ranks 2nd on our list of the best dividend achievers to buy according to hedge funds.

Robyn Karnauskas from Truist has also taken over coverage of Bristol-Myers Squibb Company (NYSE: BMY)  shares this July with a Buy rating alongside a $74 price target.

In the first quarter of 2021, Bristol-Myers Squibb Company (NYSE: BMY) had an EPS of $1.74, beating estimates by $0.07. The company’s revenue was $11.07 billion, up 2.71% year over year but missing estimates by $81.41 million. Bristol-Myers Squibb Company (NYSE: BMY) has also gained 8.35% in the past 6 months and 9.95% year to date.

By the end of the first quarter of 2021, 81 hedge funds out of the 866 tracked by Insider Monkey held stakes in Bristol-Myers Squibb Company (NYSE: BMY) worth roughly $5.03 billion. This is compared to 131 hedge funds in the previous quarter with a total stake value of approximately $6.08 billion.