5 Undervalued S&P 500 Stocks Billionaires Are Loading Up On

This article presents an overview of the 5 Undervalued S&P 500 Stocks Billionaires Are Loading Up On. For a detailed overview of such stocks, read our article, 15 Undervalued S&P 500 Stocks Billionaires Are Loading Up On.

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

Number of Billionaire Investors: 18

Bristol-Myers Squibb Co (NYSE:BMY) recently made its common shareholders, and the 18 billionaires who are its shareholders, extremely happy, as it announced a 5.3% raise in its dividends.  Bristol-Myers Squibb Co (NYSE:BMY) has also approved a share buyback plan of $3 billion of its common stock under Bristol-Myers Squibb Co’s (NYSE:BMY) multi-year share repurchase program.

Some notable billionaire shareholders of Bristol-Myers Squibb Co (NYSE:BMY) include Israel Englander, DE Shaw and Israel Englander.

Madison Sustainable Equity Fund made the following comment about Bristol-Myers Squibb Company (NYSE:BMY) in its Q3 2023 investor letter:

“During the quarter, we sold our positions in Bristol-Myers Squibb Company (NYSE:BMY) and The Walt Disney Company. We added Texas Instruments as a new position. Bristol-Myers has been dealing with the loss of exclusivity for Revlimid, one of its key products. Although the company is launching new drugs in melanoma, heart failure, and psoriasis it will need additional products to offset the lower revenue in Revlimid.”