5 Safe Dividend Stocks to Buy Today

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

Number of Hedge Fund Holders: 66

Dividend Yield as of March 4: 3.12%

Number of Years of Dividend Increases: 13

Bristol-Myers Squibb Company (NYSE:BMY) is a New York-based manufacturer that sells biopharmaceutical products worldwide. In Q4 2021, 66 hedge funds were bullish on Bristol-Myers Squibb Company (NYSE:BMY), and Two Sigma Advisors held the largest position in the company among that group, with 6.6 million shares worth $412.5 million. 

On March 1, Bristol-Myers Squibb Company (NYSE:BMY) declared a quarterly dividend of $0.54 per share, in line with previous. The dividend will be paid on May 2, to shareholders of record on April 1. The stock delivers a 3.12% dividend yield as of March 4. 

Wells Fargo analyst Mohit Bansal raised the price target on Bristol-Myers Squibb Company (NYSE:BMY) to $65 from $60 on March 2 ahead of key readouts for Factor XI drugs. The analyst kept an ‘Equal Weight’ rating on the shares.

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.”

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