13 Best Cheap Dividend Stocks To Buy Right Now

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

Number of Hedge Fund Holders: 88

Forward P/E Ratio: 8.83

Bristol-Myers Squibb Company (NYSE:BMY) is a New York-based pharmaceutical industry company. In the fourth quarter of 2024, the company reported revenue of $12.34 billion, reflecting a 7.5% increase from the previous year. Its Growth Portfolio performed exceptionally well, with revenue climbing 21% to $6.4 billion. This strong performance was driven by rising demand for key treatments such as Reblozyl, Breyanzi, and Camzyos, which saw annual sales growth of 71%, 125%, and 101%, respectively.

By the end of the year, Bristol-Myers Squibb Company (NYSE:BMY) maintained a solid financial position with over $10.3 billion in cash and cash equivalents. As one of the best dividend stocks, BMY has consistently paid dividends for 93 years and has raised its payouts for 16 consecutive years. The company’s quarterly dividend comes in at $0.62 per share and has a dividend yield of 4.12%, as of March 6.

Bristol-Myers Squibb Company (NYSE:BMY) remains focused on developing new molecular entities while strategically acquiring businesses to enhance its research and development capabilities. This approach strengthens its competitive position, fosters innovation, and reinforces its leadership in the pharmaceutical industry. The company was a part of 88 hedge funds at the end of Q4 2024, up from 70 in the previous quarter, as per Insider Monkey’s database. The stakes owned by these hedge funds are worth over $3.2 billion.