5 Best Pharma Dividend Stocks To Buy

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

Number of Hedge Fund Holders: 69

Dividend Yield as of October 27: 2.87%

Bristol-Myers Squibb Company (NYSE:BMY) is a New York-based company that manufactures and markets pharmaceutical products worldwide for hematology, oncology, cardiovascular, immunology, fibrotic, neuroscience, and COVID-19 diseases. On September 14, Bristol-Myers Squibb Company (NYSE:BMY) declared a quarterly dividend of $0.54 per share, in line with previous. The dividend is distributable on November 1. After posting market-beating Q3 2022 results, the company reaffirmed its FY 2022 total net sales of $46 billion versus a $46.03 billion consensus, and an adjusted EPS of $7.44-$7.74, compared to a $7.54 consensus. Bristol-Myers Squibb Company (NYSE:BMY) is one of the premier dividend stocks to invest in. 

On October 12, Barclays analyst Carter Gould maintained an Equal Weight rating on Bristol-Myers Squibb Company (NYSE:BMY) but lowered the price target on the stock to $66 from $69, citing “another round of challenging setups” for biopharmaceuticals in Q3. 

According to Insider Monkey’s Q2 data, 69 hedge funds were bullish on Bristol-Myers Squibb Company (NYSE:BMY), compared to 70 funds in the prior quarter. John Overdeck and David Siegel’s Two Sigma Advisors is the biggest position holder in the company, with 4.7 million shares worth $363 million. 

RGA Investment Advisors made the following comment about Bristol-Myers Squibb Company (NYSE:BMY) in its Q3 2022 investor letter:

“Bristol-Myers Squibb Company (NYSE:BMY), which we referenced above, boasts a double digit free cash flow yield that gets divided roughly equally between repurchases, a dividend and M&A in what is the best environment for acquisitions perhaps ever. In 2019, BMY acquired Celgene, who had one of the better corporate development programs in the industry. We view this as a great outlet for us as generalists considering a company like BMY should truly thrive with the ability to acquire outstanding assets and science at depressed valuations. We touched on the Turning Point acquisition above and we expect the company to be increasingly active in the M&A landscape. Importantly, Celgene also came to BMY with a phenomenal CAR-T platform. CAR-T is a cell therapy that activates the body’s immune system to target cancers. This will be a key growth vector alongside M&A in overcoming the company’s patent cliff.”