5 Best Dividend Stocks with Upside Potential

3. Bristol Myers Squibb (NYSE:BMY)

No of HFs: 124

Total Value of HF Holdings: $7.56 Billion

BMY is a global biopharmaceutical company that is focused on producing innovative medicines for serious diseases. During the third quarter of 2020, the company reported US revenue of $6.5 billion.

The top hedge fund holder of this stock is Jim Simons’ Renaissance Technologies which had $1.84 million invested in the stock at the end of September. An insider recently purchased 9,174 shares at around $54. The stock has been up 12% since then. BMY’s annual dividend yield is 3.14%.

Check out this article where Generation PMCA made comments on this stock.

“Bristol Myers Squibb is a leading biopharmaceutical company focused on oncology, autoimmune diseases, cardiovascular diseases, and fibrosis. The market has been overly concerned with the loss of exclusivity of Revlimid in 2 years and Eliquis in 5 years. We believe the company has the ability to offset these patent expirations via M&A (it recently announced the acquisition of MyoKardia) and its compelling pipeline, including TYK-2, Opvido, Ozanimod, and Zeposia. To account for the risks associated with drug development and M&A, our valuation models assume zero growth after the next 5 years. The company has a 2.9% dividend yield and our FMV is $75.”