5 Dividend Stocks in Warren Buffett’s Latest Portfolio

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

Number of Hedge Fund Holders: 73

Forward Dividend Yield: 3.32%

Bristol-Myers Squibb Company (NYSE:BMY) is a New York-based pharmaceutical company. The firm posted earnings for the third quarter in late October, reporting earnings per share of $2.00, beating estimates by $0.08. The revenue over the period was $11.6 billion, smashing expectations by $100 million. 

The hedge fund of billionaire Warren Buffett owned over 22 million shares of Bristol-Myers Squibb Company (NYSE:BMY) at the end of the third quarter of 2021 worth more than $1.3 billion, representing 0.44% of the portfolio of the fund. 

At the end of the second quarter of 2021, 73 hedge funds in the database of Insider Monkey held stakes worth $4.5 billion in Bristol-Myers Squibb Company (NYSE:BMY), down from 81 in the preceding quarter worth $5.7 billion. 

In its Q4 2020 investor letter, Wedgewood Partners, an asset management firm, highlighted a few stocks and Bristol-Myers Squibb Company (NYSE:BMY) was one of them. Here is what the fund said:

“Bristol-Myers Squibb recently reported accelerating sales as much of the medical services industry returned to work. The Company continues to expect double-digit earnings growth over the next few years, driven by existing drugs, in addition to a broad pipeline of new drugs and indications. While the market remains fixated on a couple of patent expirations that could occur over the next several years, we think this is well-known at this point, yet the market still undervalues a couple of key acquisitions the Company has made in the past few years, particularly Celgene, which was acquired for a song.”