Bristol Myers Squibb Company $BMY Shares Acquired by AQR Capital Management LLC

Key Points

• AQR Capital Management LLC increased its stake in Bristol Myers Squibb Company by 49.0%, acquiring an additional 1,962,233 shares and now owning 5,969,030 shares valued at approximately $364 million.
• Bristol Myers Squibb reported $1.46 earnings per share for the last quarter, exceeding estimates by $0.39, with quarterly revenue of $12.27 billion.
• The company recently announced a quarterly dividend of $0.62 per share, equating to an annualized dividend yield of 5.2%, with a dividend payout ratio of 100%.

AQR Capital Management LLC boosted its stake in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 49.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,969,030 shares of the biopharmaceutical company's stock after purchasing an additional 1,962,233 shares during the quarter. AQR Capital Management LLC owned about 0.29% of Bristol Myers Squibb worth $364,051,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in BMY. Pinney & Scofield Inc. purchased a new stake in Bristol Myers Squibb in the fourth quarter valued at about $25,000. Park Square Financial Group LLC purchased a new stake in Bristol Myers Squibb in the fourth quarter valued at about $26,000. Global Wealth Strategies & Associates raised its stake in Bristol Myers Squibb by 137.5% in the first quarter. Global Wealth Strategies & Associates now owns 475 shares of the biopharmaceutical company's stock valued at $29,000 after buying an additional 275 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Bristol Myers Squibb in the first quarter valued at about $31,000. Finally, Accent Capital Management LLC purchased a new stake in Bristol Myers Squibb in the first quarter valued at about $33,000. Institutional investors own 76.41% of the company's stock.

Bristol Myers Squibb Stock Performance

BMY stock traded up $0.39 during trading on Friday, hitting $47.08. 8,227,003 shares of the company traded hands, compared to its average volume of 9,276,282. The stock's 50-day simple moving average is $47.09 and its 200 day simple moving average is $50.48. The company has a debt-to-equity ratio of 2.54, a current ratio of 1.21 and a quick ratio of 1.11. The company has a market cap of $95.84 billion, a PE ratio of 18.99, a P/E/G ratio of 2.41 and a beta of 0.35. Bristol Myers Squibb Company has a 1 year low of $42.96 and a 1 year high of $63.33.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The biopharmaceutical company reported $1.46 EPS for the quarter, beating the consensus estimate of $1.07 by $0.39. Bristol Myers Squibb had a return on equity of 80.04% and a net margin of 10.58%.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 company earned $2.07 earnings per share. Bristol Myers Squibb's quarterly revenue was up .6% compared to the same quarter last year. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. On average, equities analysts expect that Bristol Myers Squibb Company will post 6.74 earnings per share for the current fiscal year.

Bristol Myers Squibb Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Thursday, July 3rd were paid a $0.62 dividend. The ex-dividend date of this dividend was Thursday, July 3rd. This represents a $2.48 dividend on an annualized basis and a dividend yield of 5.3%. Bristol Myers Squibb's payout ratio is currently 100.00%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Daiwa America cut Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 5th. Wall Street Zen cut Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a research note on Friday, June 6th. Citigroup reduced their price objective on Bristol Myers Squibb from $51.00 to $47.00 and set a "neutral" rating for the company in a research note on Friday, August 1st. Daiwa Capital Markets cut Bristol Myers Squibb from an "outperform" rating to a "neutral" rating and set a $42.00 price objective for the company. in a research note on Tuesday, August 5th. Finally, Morgan Stanley restated a "hold" rating on shares of Bristol Myers Squibb in a research note on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, fifteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $56.38.

Insider Buying and Selling

In related news, EVP David V. Elkins sold 56,000 shares of Bristol Myers Squibb stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $47.33, for a total transaction of $2,650,480.00. Following the transaction, the executive vice president owned 167,379 shares in the company, valued at approximately $7,922,048.07. This trade represents a 25.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.09% of the company's stock.

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.