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Dividend Channel Identifies Oversold Conditions For Top Quartile Ranked Dividend Stock BMY

By Dividend Channel Staff, Thursday, August 9, 11:57 AM ET
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The DividendRank formula at Dividend Channel ranks a coverage universe of thousands of dividend stocks, according to a proprietary formula designed to identify those stocks that combine two important characteristics strong fundamentals and a valuation that looks inexpensive. Bristol-Myers Squibb Co. (NYSE:BMY) presently has an excellent rank, in the top 25% of the coverage universe, which suggests it is among the top most "interesting" ideas that merit further research by investors.

But making Bristol-Myers Squibb Co. an even more interesting and timely stock to look at, is the fact that in trading on Thursday, shares of BMY entered into oversold territory, changing hands as low as $31.76 per share. We define oversold territory using the Relative Strength Index, or RSI, which is a technical analysis indicator used to measure momentum on a scale of zero to 100. A stock is considered to be oversold if the RSI reading falls below 30.

In the case of Bristol-Myers Squibb Co., the RSI reading has hit 29.0 by comparison, the universe of dividend stocks covered by Dividend Channel currently has an average RSI of 57.7. A falling stock price all else being equal creates a better opportunity for dividend investors to capture a higher yield. Indeed, BMY's recent annualized dividend of 1.36/share (currently paid in quarterly installments) works out to an annual yield of 4.24% based upon the recent $32.10 share price.

A bullish investor could look at BMY's 29.0 RSI reading today as a sign that the recent heavy selling is in the process of exhausting itself, and begin to look for entry point opportunities on the buy side. Among the fundamental datapoints dividend investors should investigate to decide if they are bullish on BMY is its dividend history. In general, dividends are not always predictable; but, looking at the history chart below can help in judging whether the most recent dividend is likely to continue.

BMY Dividend History
Date Div*
07/03/12 0.340
04/03/12 0.340
01/04/12 0.340
10/06/11 0.330
06/29/11 0.330
03/30/11 0.330
01/05/11 0.330
09/29/10 0.320
06/30/10 0.320
03/30/10 0.320
12/30/09 0.320
09/30/09 0.310
07/01/09 0.310
04/01/09 0.310
12/30/08 0.310
10/01/08 0.310
07/02/08 0.310
04/02/08 0.310
01/02/08 0.310
10/03/07 0.280
07/03/07 0.280
04/03/07 0.280
01/03/07 0.280
10/04/06 0.280
07/05/06 0.280
04/05/06 0.280
01/04/06 0.280
10/05/05 0.280
06/29/05 0.280
03/30/05 0.280
01/05/05 0.280
09/29/04 0.280
06/30/04 0.280
03/31/04 0.280
12/30/03 0.280
10/01/03 0.280
07/01/03 0.280
04/02/03 0.280
12/31/02 0.280
10/02/02 0.280
07/02/02 0.280
04/03/02 0.280
01/02/02 0.280
10/03/01 0.275
07/03/01 0.275
04/04/01 0.275
01/03/01 0.275
10/04/00 0.245
07/05/00 0.245
04/05/00 0.245
01/05/00 0.245
09/29/99 0.215
06/30/99 0.216
03/30/99 0.215
01/06/99 0.215
09/30/98 0.195
06/30/98 0.195
04/01/98 0.195
12/30/97 0.195
10/01/97 0.190
07/01/97 0.190
04/02/97 0.190
12/31/96 0.190
10/02/96 0.188
07/02/96 0.188
04/02/96 0.188
01/03/96 0.188
10/04/95 0.185
* Data may be adjusted for splits; we are not responsible for data errors; always verify data with the company.


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According to the ETF Finder at ETF Channel, BMY makes up 5.34% of the iShares Dow Jones U.S. Pharmaceuticals Index Fund ETF (AMEX:IHE) which is trading higher by about 0.1% on the day Thursday.

See what other ETFs contain BMY
See what other stocks are held by IHE


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