Northern Trust Corp Increases Holdings in Bristol Myers Squibb Company $BMY

Key Points

• Northern Trust Corp increased its position in Bristol Myers Squibb by 5.3% during Q1, owning approximately 25.97 million shares valued at $1.58 billion.
• Analysts have mixed opinions on Bristol Myers Squibb, with a consensus rating of "Hold" and a target price averaging $56.38.
• Bristol Myers Squibb reported a net income of $1.46 EPS for the last quarter, exceeding estimates, along with a quarterly dividend of $0.62 per share and a dividend yield of 5.1%.

Northern Trust Corp grew its holdings in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 5.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 25,974,504 shares of the biopharmaceutical company's stock after acquiring an additional 1,316,144 shares during the period. Northern Trust Corp owned 1.28% of Bristol Myers Squibb worth $1,584,185,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in Bristol Myers Squibb by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 191,403,004 shares of the biopharmaceutical company's stock worth $11,673,669,000 after acquiring an additional 1,458,488 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Bristol Myers Squibb by 0.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 60,606,905 shares of the biopharmaceutical company's stock worth $3,696,415,000 after acquiring an additional 306,430 shares during the period. Ameriprise Financial Inc. grew its holdings in Bristol Myers Squibb by 59.9% during the 4th quarter. Ameriprise Financial Inc. now owns 32,079,246 shares of the biopharmaceutical company's stock worth $1,814,341,000 after acquiring an additional 12,011,983 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Bristol Myers Squibb by 8.6% in the 1st quarter. Bank of New York Mellon Corp now owns 26,865,073 shares of the biopharmaceutical company's stock valued at $1,638,501,000 after buying an additional 2,131,205 shares during the period. Finally, Primecap Management Co. CA grew its stake in shares of Bristol Myers Squibb by 0.9% in the 1st quarter. Primecap Management Co. CA now owns 22,970,633 shares of the biopharmaceutical company's stock valued at $1,400,979,000 after buying an additional 197,453 shares during the period. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Bristol Myers Squibb Stock Performance

Shares of Bristol Myers Squibb stock traded down $0.5880 during mid-day trading on Friday, hitting $47.8420. 11,600,146 shares of the stock were exchanged, compared to its average volume of 13,263,229. Bristol Myers Squibb Company has a 12 month low of $42.96 and a 12 month high of $63.33. The company has a 50-day simple moving average of $47.09 and a 200 day simple moving average of $51.20. The company has a debt-to-equity ratio of 2.54, a quick ratio of 1.11 and a current ratio of 1.21. The company has a market capitalization of $97.38 billion, a P/E ratio of 19.29, a P/E/G ratio of 2.47 and a beta of 0.36.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last posted its earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $12.27 billion for the quarter, compared to analysts' expectations of $11.32 billion. During the same quarter last year, the firm earned $2.07 EPS. The company'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. Sell-side analysts anticipate that Bristol Myers Squibb Company will post 6.74 earnings per share for the current fiscal year.

Bristol Myers Squibb Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Thursday, July 3rd were given a dividend of $0.62 per share. The ex-dividend date of this dividend was Thursday, July 3rd. This represents a $2.48 annualized dividend and a dividend yield of 5.2%. Bristol Myers Squibb's dividend payout ratio (DPR) is currently 100.00%.

Wall Street Analysts Forecast Growth

BMY has been the subject of several research reports. Wall Street Zen downgraded Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a research note on Friday, June 6th. Argus upgraded Bristol Myers Squibb to a "hold" rating in a research note on Friday, April 25th. William Blair restated a "market perform" rating on shares of Bristol Myers Squibb in a research note on Friday, April 25th. Daiwa America downgraded Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 5th. Finally, Daiwa Capital Markets downgraded Bristol Myers Squibb from an "outperform" rating to a "neutral" rating and set a $42.00 target price for the company. in a research note on Tuesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, fifteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $56.38.

About Bristol Myers Squibb

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.