Banque Cantonale Vaudoise Purchases New Holdings in Bristol Myers Squibb Company (NYSE:BMY)

Key Points

• Banque Cantonale Vaudoise invested approximately $11.38 million in Bristol Myers Squibb by acquiring 186,649 shares in the first quarter, reflecting growing institutional interest in the company.
• Bristol Myers Squibb has announced a quarterly dividend of $0.62 per share, yielding 5.22%, with a payout ratio of 92.88%.
• Analysts hold a consensus rating of "Hold" for Bristol Myers Squibb, with a consensus price target set at $58.53.

Banque Cantonale Vaudoise bought a new stake in Bristol Myers Squibb Company (NYSE:BMY - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 186,649 shares of the biopharmaceutical company's stock, valued at approximately $11,383,000.

Several other hedge funds have also made changes to their positions in the stock. Thoroughbred Financial Services LLC lifted its stake in shares of Bristol Myers Squibb by 1.1% in the fourth quarter. Thoroughbred Financial Services LLC now owns 17,763 shares of the biopharmaceutical company's stock valued at $1,004,000 after buying an additional 190 shares during the period. Marcum Wealth LLC lifted its stake in shares of Bristol Myers Squibb by 1.0% in the first quarter. Marcum Wealth LLC now owns 19,296 shares of the biopharmaceutical company's stock valued at $1,177,000 after buying an additional 193 shares during the period. Beacon Investment Advisory Services Inc. lifted its stake in shares of Bristol Myers Squibb by 2.7% in the first quarter. Beacon Investment Advisory Services Inc. now owns 8,063 shares of the biopharmaceutical company's stock valued at $492,000 after buying an additional 212 shares during the period. Nemes Rush Group LLC lifted its stake in shares of Bristol Myers Squibb by 0.8% in the fourth quarter. Nemes Rush Group LLC now owns 27,027 shares of the biopharmaceutical company's stock valued at $1,529,000 after buying an additional 221 shares during the period. Finally, 1858 Wealth Management LLC lifted its stake in shares of Bristol Myers Squibb by 3.6% in the first quarter. 1858 Wealth Management LLC now owns 6,421 shares of the biopharmaceutical company's stock valued at $392,000 after buying an additional 221 shares during the period. Institutional investors own 76.41% of the company's stock.

Bristol Myers Squibb Price Performance

Shares of NYSE BMY traded down $0.66 during mid-day trading on Tuesday, hitting $46.85. 11,261,704 shares of the stock were exchanged, compared to its average volume of 11,210,511. The company has a market cap of $95.35 billion, a P/E ratio of 17.55, a PEG ratio of 2.50 and a beta of 0.36. The stock's fifty day simple moving average is $47.65 and its two-hundred day simple moving average is $52.49. The company has a debt-to-equity ratio of 2.65, a quick ratio of 1.17 and a current ratio of 1.28. Bristol Myers Squibb Company has a twelve month low of $44.00 and a twelve month high of $63.33.

Bristol Myers Squibb Announces Dividend

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

Analyst Upgrades and Downgrades

Several research firms recently weighed in on BMY. Argus upgraded shares of Bristol Myers Squibb to a "hold" rating in a research note on Friday, April 25th. Cantor Fitzgerald restated a "neutral" rating and set a $55.00 price target on shares of Bristol Myers Squibb in a research note on Tuesday, April 22nd. The Goldman Sachs Group restated a "neutral" rating and set a $55.00 price target (down previously from $67.00) on shares of Bristol Myers Squibb in a research note on Tuesday, April 8th. Piper Sandler started coverage on shares of Bristol Myers Squibb in a research note on Tuesday, April 22nd. They set an "overweight" rating and a $65.00 price target for the company. Finally, UBS Group cut their price target on shares of Bristol Myers Squibb from $60.00 to $54.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $58.53.

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.