Bristol Myers Squibb Company to Issue Quarterly Dividend of $0.62 (NYSE:BMY)

Bristol Myers Squibb Company (NYSE:BMY - Get Free Report) announced a quarterly dividend on Tuesday, June 17th, RTT News reports. Investors of record on Thursday, July 3rd will be given a dividend of 0.62 per share by the biopharmaceutical company on Friday, August 1st. This represents a $2.48 dividend on an annualized basis and a yield of 5.28%. The ex-dividend date of this dividend is Thursday, July 3rd.

Bristol Myers Squibb has a payout ratio of 40.9% meaning its dividend is sufficiently covered by earnings. Research analysts expect Bristol Myers Squibb to earn $6.09 per share next year, which means the company should continue to be able to cover its $2.48 annual dividend with an expected future payout ratio of 40.7%.

Bristol Myers Squibb Price Performance

Bristol Myers Squibb stock traded up $0.13 on Friday, reaching $46.97. The company's stock had a trading volume of 8,998,800 shares, compared to its average volume of 12,952,784. Bristol Myers Squibb has a twelve month low of $39.35 and a twelve month high of $63.33. The company has a market cap of $95.58 billion, a price-to-earnings ratio of 17.63, a PEG ratio of 1.39 and a beta of 0.38. The company has a debt-to-equity ratio of 2.65, a quick ratio of 1.17 and a current ratio of 1.28. The business's fifty day moving average price is $48.28 and its 200 day moving average price is $54.43.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.30. The business had revenue of $11.20 billion for the quarter, compared to the consensus estimate of $10.77 billion. Bristol Myers Squibb had a net margin of 11.38% and a return on equity of 87.62%. The firm's quarterly revenue was down 5.6% on a year-over-year basis. During the same quarter in the prior year, the company earned ($4.40) EPS. Equities analysts expect that Bristol Myers Squibb will post 6.74 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on BMY. Piper Sandler began coverage on shares of Bristol Myers Squibb in a report on Tuesday, April 22nd. They issued an "overweight" rating and a $65.00 price objective on the stock. Argus upgraded shares of Bristol Myers Squibb to a "hold" rating in a research report on Friday, April 25th. UBS Group reduced their price target on Bristol Myers Squibb from $60.00 to $54.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. Jefferies Financial Group dropped their price objective on Bristol Myers Squibb from $70.00 to $68.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. Finally, The Goldman Sachs Group reissued a "neutral" rating and issued a $55.00 target price (down previously from $67.00) on shares of Bristol Myers Squibb in a research note on Tuesday, April 8th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating, six have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $58.00.

Insider Activity at Bristol Myers Squibb

In other Bristol Myers Squibb news, EVP Samit Hirawat acquired 4,250 shares of Bristol Myers Squibb stock in a transaction that occurred on Friday, April 25th. The shares were bought at an average price of $47.58 per share, with a total value of $202,215.00. Following the completion of the purchase, the executive vice president now directly owns 83,513 shares in the company, valued at $3,973,548.54. This trade represents a 5.36% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. 0.09% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Bristol Myers Squibb

A hedge fund recently raised its stake in Bristol Myers Squibb stock. Brighton Jones LLC raised its stake in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 33.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 19,728 shares of the biopharmaceutical company's stock after acquiring an additional 4,935 shares during the quarter. Brighton Jones LLC's holdings in Bristol Myers Squibb were worth $1,116,000 as of its most recent filing with the Securities & Exchange Commission. 76.41% of the stock is owned by institutional investors and hedge funds.

Bristol Myers Squibb Company Profile

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It offers products for hematology, oncology, cardiovascular, immunology, fibrotic, and neuroscience diseases. The company's products include Eliquis for reduction in risk of stroke/systemic embolism in non-valvular atrial fibrillation, and for the treatment of DVT/PE; Opdivo for various anti-cancer indications, including bladder, blood, CRC, head and neck, RCC, HCC, lung, melanoma, MPM, stomach and esophageal cancer; Pomalyst/Imnovid for multiple myeloma; Orencia for active rheumatoid arthritis and psoriatic arthritis; and Sprycel for the treatment of Philadelphia chromosome-positive chronic myeloid leukemia.