5 Dividend Growth Stocks Popular on Robinhood

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

Dividend Yield as of April 4: 2.93%

Number of Years of Consecutive Dividend Increases: 16

Number of Hedge Fund Holders: 66

Bristol-Myers Squibb Company (NYSE:BMY) is a New York-based multinational pharmaceutical company that provides pharmaceutical drugs for multiple therapeutic focus areas such as hematology, oncology, cardiovascular, immunology, fibrotic, and neuroscience. Bristol-Myers Squibb Company (NYSE:BMY)’s dividend yield on April 4 stood at 2.93% 

The full-year revenue for Bristol-Myers Squibb Company (NYSE:BMY) in 2021 was $46.3 billion, compared to $42.5 billion in 2020. The company’s net income in 2021 rebounded significantly to roughly $7 billion from the $9 billion net loss the prior year. The cash flow also increased as compared to 2020, coming in at $17.2 billion at the end of December 2021.

On March 30, BMO Capital analyst Evan Seigerman raised the price target on Bristol-Myers Squibb Company (NYSE:BMY) to $81 from $74 and kept an Outperform rating on the shares. In addition to a robust product pipeline, Bristol-Myers Squibb Company (NYSE:BMY) shares are undervalued given the company’s strong fundamentals, and its margin leverage is underestimated, the analyst told investors in a research note.

Bristol-Myers Squibb Company (NYSE:BMY) declared on March 1 a $0.54 per share quarterly dividend, in line with previous. The dividend will be paid on May 2, for shareholders of record on April 1. 

Among the hedge funds tracked by Insider Monkey, 66 funds were bullish on Bristol-Myers Squibb Company (NYSE:BMY) at the end of Q4 2021, with total stakes amounting to $3.3 billion. John Overdeck and David Siegel’s Two Sigma Advisors is the biggest stakeholder of the company, with 6.6 million shares worth $412.5 million. 

Wedgewood Partners mentioned Bristol-Myers Squibb Company (NYSE:BMY) in its Q4 2020 investor letter. Here is what the fund had to say: 

“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.”

You can also take a look at 10 Best Biotech Stocks Under $5 and 10 Stocks Trending on Robinhood. 

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