5 Best Stocks to Buy for Income

In this article, we discuss 5 best stocks to buy for income. You can skip our detailed analysis of income-generating stocks and the performance of dividend stocks over the years, go directly to read 11 Best Stocks to Buy for Income.

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

Number of Hedge Fund Holders: 66
Dividend Yield as of October 28: 4.57%

Bristol-Myers Squibb Company (NYSE:BMY) is an American biopharmaceutical company that specializes in the research, development, and marketing of pharmaceutical and biologic products, primarily for the healthcare and pharmaceutical industries. The company currently pays a quarterly dividend of $0.57 per share and has a dividend yield of 4.57%, as of October 28. It has been rewarding shareholders with growing dividends for the past 17 years, which makes it one of the best stocks for income.

Of the 910 hedge funds in Insider Monkey’s database at the end of Q2 2023, 66 funds owned stakes in Bristol-Myers Squibb Company (NYSE:BMY). The collective value of stakes owned by these hedge funds is nearly $1.7 billion.