Avantax Advisory Services Inc. Boosts Stake in Bristol Myers Squibb Company (NYSE:BMY)

Key Points

• Avantax Advisory Services Inc. increased its holdings in Bristol Myers Squibb by 7.3%, owning 234,200 shares valued at approximately $14.28 million.
• Bristol Myers Squibb reported a quarterly earnings per share of $1.80, surpassing the consensus estimate by $0.30, despite a 5.6% decline in revenue compared to the previous year.
• The company announced a $0.62 quarterly dividend, resulting in an annualized dividend yield of 5.12%, with a dividend payout ratio of 92.88%.

Avantax Advisory Services Inc. boosted its holdings in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 7.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 234,200 shares of the biopharmaceutical company's stock after acquiring an additional 15,977 shares during the quarter. Avantax Advisory Services Inc.'s holdings in Bristol Myers Squibb were worth $14,284,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BMY. Ameriprise Financial Inc. grew its stake in shares of Bristol Myers Squibb by 59.9% in the 4th quarter. Ameriprise Financial Inc. now owns 32,079,246 shares of the biopharmaceutical company's stock valued at $1,814,341,000 after buying an additional 12,011,983 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its stake in shares of Bristol Myers Squibb by 701.2% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 12,470,106 shares of the biopharmaceutical company's stock valued at $705,309,000 after buying an additional 10,913,708 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Bristol Myers Squibb by 3,880.0% in the 4th quarter. Wellington Management Group LLP now owns 5,977,505 shares of the biopharmaceutical company's stock valued at $338,088,000 after buying an additional 5,827,317 shares in the last quarter. Schroder Investment Management Group grew its stake in shares of Bristol Myers Squibb by 49.7% in the 4th quarter. Schroder Investment Management Group now owns 11,413,428 shares of the biopharmaceutical company's stock valued at $639,837,000 after buying an additional 3,787,075 shares in the last quarter. Finally, Northern Trust Corp grew its stake in shares of Bristol Myers Squibb by 16.2% in the 4th quarter. Northern Trust Corp now owns 24,658,360 shares of the biopharmaceutical company's stock valued at $1,394,677,000 after buying an additional 3,431,248 shares in the last quarter. 76.41% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on BMY shares. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $55.00 target price on shares of Bristol Myers Squibb in a research report on Tuesday, April 22nd. Morgan Stanley reduced their price objective on Bristol Myers Squibb from $36.00 to $34.00 and set an "underweight" rating for the company in a research report on Thursday, July 10th. Piper Sandler assumed coverage on Bristol Myers Squibb in a research report on Tuesday, April 22nd. They issued an "overweight" rating and a $65.00 price objective for the company. The Goldman Sachs Group reissued a "neutral" rating and issued a $55.00 price objective (down from $67.00) on shares of Bristol Myers Squibb in a research report on Tuesday, April 8th. Finally, Argus raised Bristol Myers Squibb to a "hold" rating in a research report on Friday, April 25th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $58.53.

Bristol Myers Squibb Stock Down 1.3%

NYSE:BMY traded down $0.60 on Tuesday, hitting $46.91. The stock had a trading volume of 3,373,618 shares, compared to its average volume of 13,238,002. The business's fifty day moving average is $47.67 and its 200 day moving average is $52.53. The company has a market cap of $95.47 billion, a PE ratio of 17.57, a P/E/G ratio of 2.53 and a beta of 0.36. The company has a quick ratio of 1.17, a current ratio of 1.28 and a debt-to-equity ratio of 2.65. Bristol Myers Squibb Company has a 52 week low of $44.00 and a 52 week high of $63.33.

Bristol Myers Squibb Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 3rd will be given a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 5.29%. The ex-dividend date is Thursday, July 3rd. Bristol Myers Squibb's dividend payout ratio is currently 92.88%.

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.