Dividend Stock Portfolio For Income: Top 10 Stocks to Buy

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

Number of Hedge Fund Holders: 88

Bristol-Myers Squibb Company (NYSE:BMY) is a New York-based pharmaceutical industry company. It prioritizes investing in the development of new molecular entities while also acquiring companies to strengthen its research and development efforts. This strategy helps the company maintain a competitive edge, driving continuous innovation and reinforcing its leadership in the pharmaceutical industry. The stock has surged by over 15% in the past 12 months.

In the fourth quarter of 2024, Bristol-Myers Squibb Company (NYSE:BMY) reported revenue of $12.34 billion, which showed a 7.5% growth from the same period last year. Revenue from the company’s Growth Portfolio saw a notable 21% increase, reaching $6.4 billion. This growth was largely fueled by strong demand for key medications, with Reblozyl, Breyanzi, and Camzyos experiencing year-over-year increases of 71%, 125%, and 101%, respectively.

Bristol-Myers Squibb Company (NYSE:BMY) ended the year with over $10.3 billion available in cash and cash equivalents. It is one of the best stocks for a dividend stock portfolio as the company has been making regular dividend payments for the past 93 years. In addition, it has raised its payouts for 16 consecutive years. The company offers a quarterly dividend of $0.62 per share and has a dividend yield of 4.26%, as of February 25.

Overall Bristol-Myers Squibb Company (NYSE:BMY) ranks first on our list of the best stocks to buy for passive income. While we acknowledge the potential for BMY as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than BMY but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

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