Bristol Myers Squibb Company (NYSE:BMY) Shares Acquired by Primecap Management Co. CA

Key Points

• Primecap Management Co. CA increased its holdings in Bristol Myers Squibb by 0.9%, now owning approximately 22.97 million shares, valued at about $1.4 billion.
• Bristol Myers Squibb reported $1.46 earnings per share for the last quarter, significantly exceeding analyst expectations of $1.07, along with revenue of $12.27 billion.
• The company announced a quarterly dividend of $0.62 per share, resulting in an annualized dividend yield of 5.4%, despite a dividend payout ratio of 100%.

Primecap Management Co. CA raised its holdings in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 0.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 22,970,633 shares of the biopharmaceutical company's stock after acquiring an additional 197,453 shares during the period. Bristol Myers Squibb makes up about 1.2% of Primecap Management Co. CA's portfolio, making the stock its 24th biggest position. Primecap Management Co. CA owned about 1.13% of Bristol Myers Squibb worth $1,400,979,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Fi3 FINANCIAL ADVISORS LLC lifted its stake in shares of Bristol Myers Squibb by 9.3% in the 1st quarter. Fi3 FINANCIAL ADVISORS LLC now owns 3,885 shares of the biopharmaceutical company's stock valued at $237,000 after purchasing an additional 330 shares during the period. Vanguard Group Inc. lifted its stake in shares of Bristol Myers Squibb by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 191,403,004 shares of the biopharmaceutical company's stock valued at $11,673,669,000 after purchasing an additional 1,458,488 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of Bristol Myers Squibb by 17.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 14,051,319 shares of the biopharmaceutical company's stock valued at $856,990,000 after purchasing an additional 2,117,249 shares during the period. Legacy Capital Group California Inc. lifted its stake in shares of Bristol Myers Squibb by 114.6% in the 1st quarter. Legacy Capital Group California Inc. now owns 14,096 shares of the biopharmaceutical company's stock valued at $860,000 after purchasing an additional 7,528 shares during the period. Finally, Intrust Bank NA lifted its stake in shares of Bristol Myers Squibb by 8.5% in the 1st quarter. Intrust Bank NA now owns 34,482 shares of the biopharmaceutical company's stock valued at $2,103,000 after purchasing an additional 2,691 shares during the period. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Bristol Myers Squibb Trading Up 0.9%

Shares of BMY opened at $45.82 on Wednesday. The company has a current ratio of 1.21, a quick ratio of 1.11 and a debt-to-equity ratio of 2.54. Bristol Myers Squibb Company has a 12-month low of $42.96 and a 12-month high of $63.33. The firm has a 50-day moving average price of $47.46 and a 200 day moving average price of $52.11. The firm has a market capitalization of $93.26 billion, a P/E ratio of 18.48, a P/E/G ratio of 2.33 and a beta of 0.36.

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

Bristol Myers Squibb Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Thursday, July 3rd were paid a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 5.4%. The ex-dividend date of this dividend was Thursday, July 3rd. Bristol Myers Squibb's dividend payout ratio (DPR) is 100.00%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on BMY. UBS Group decreased their target price 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. Daiwa America cut shares of Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a research report on Tuesday. Argus upgraded shares of Bristol Myers Squibb to a "hold" rating in a research report on Friday, April 25th. William Blair restated a "market perform" rating on shares of Bristol Myers Squibb in a research report on Friday, April 25th. Finally, Cantor Fitzgerald restated a "neutral" rating and set a $55.00 price objective on shares of Bristol Myers Squibb in a research report on Tuesday, April 22nd. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Bristol Myers Squibb currently has an average rating of "Hold" and a consensus price target of $56.38.

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.

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