Aberdeen Group plc Decreases Holdings in Bristol Myers Squibb Company $BMY

Key Points

• Aberdeen Group plc has reduced its stake in Bristol Myers Squibb by 4.6%, holding approximately 2.84 million shares valued at $174.44 million.
• Bristol Myers Squibb reported $1.46 EPS for its last quarter, significantly exceeding analyst expectations of $1.07, and generated revenue of $12.27 billion, beating estimates of $11.32 billion.
• The company declared a quarterly dividend of $0.62 per share, which translates to a dividend yield of 5.2% with a payout ratio of 100%.

Aberdeen Group plc trimmed its position in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 4.6% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,846,994 shares of the biopharmaceutical company's stock after selling 135,775 shares during the period. Aberdeen Group plc owned approximately 0.14% of Bristol Myers Squibb worth $174,435,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Pinney & Scofield Inc. acquired a new position in Bristol Myers Squibb during the fourth quarter valued at approximately $25,000. Park Square Financial Group LLC acquired a new position in shares of Bristol Myers Squibb during the 4th quarter worth $26,000. Global Wealth Strategies & Associates lifted its position in shares of Bristol Myers Squibb by 137.5% during the 1st quarter. Global Wealth Strategies & Associates now owns 475 shares of the biopharmaceutical company's stock worth $29,000 after buying an additional 275 shares during the last quarter. Transce3nd LLC acquired a new stake in Bristol Myers Squibb in the fourth quarter valued at about $28,000. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new position in Bristol Myers Squibb during the first quarter worth about $31,000. 76.41% of the stock is owned by institutional investors.

Bristol Myers Squibb Stock Down 0.5%

NYSE:BMY traded down $0.25 during trading hours on Monday, hitting $48.19. 7,865,214 shares of the company traded hands, compared to its average volume of 12,742,200. The company has a quick ratio of 1.11, a current ratio of 1.21 and a debt-to-equity ratio of 2.54. The company has a market cap of $98.09 billion, a PE ratio of 19.43, a PEG ratio of 2.48 and a beta of 0.36. The firm's 50-day simple moving average is $47.23 and its 200-day simple moving average is $51.39. Bristol Myers Squibb Company has a one year low of $42.96 and a one year high of $63.33.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 earnings per share for the quarter, beating analysts' consensus estimates of $1.07 by $0.39. Bristol Myers Squibb had a net margin of 10.58% and a return on equity of 80.04%. The company had revenue of $12.27 billion for the quarter, compared to analyst estimates of $11.32 billion. During the same period last year, the firm earned $2.07 earnings per share. The firm's revenue was up .6% on a year-over-year basis. Equities analysts predict that Bristol Myers Squibb Company will post 6.74 earnings per share for the current year.

Bristol Myers Squibb Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Thursday, July 3rd were issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 5.1%. The ex-dividend date was Thursday, July 3rd. Bristol Myers Squibb's dividend payout ratio (DPR) is 100.00%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on BMY shares. Jefferies Financial Group cut their target price on shares of Bristol Myers Squibb from $70.00 to $68.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Argus raised Bristol Myers Squibb to a "hold" rating in a report on Friday, April 25th. Daiwa Capital Markets cut shares of Bristol Myers Squibb from an "outperform" rating to a "neutral" rating and set a $42.00 price target for the company. in a research report on Tuesday, August 5th. Piper Sandler initiated coverage on Bristol Myers Squibb in a research note on Tuesday, April 22nd. They issued an "overweight" rating and a $65.00 price objective on the stock. Finally, Wall Street Zen cut shares of Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a research report on Friday, June 6th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Bristol Myers Squibb presently has a consensus rating of "Hold" and an average price target of $56.38.

Bristol Myers Squibb 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.