Zurcher Kantonalbank Zurich Cantonalbank Boosts Position in Bristol Myers Squibb Company (NYSE:BMY)

Key Points

• Zurcher Kantonalbank increased its stake in Bristol Myers Squibb by 2.4%, now owning approximately 1.45 million shares valued at $88.29 million.
• Bristol Myers Squibb reported a quarterly earnings per share (EPS) of $1.80, exceeding expectations, despite a year-over-year revenue decline of 5.6%.
• The company announced a quarterly dividend of $0.62 per share, with a yield of 5.12%, set to be paid on August 1st.

Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 2.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,447,632 shares of the biopharmaceutical company's stock after acquiring an additional 33,983 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.07% of Bristol Myers Squibb worth $88,291,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Thoroughbred Financial Services LLC raised its position in Bristol Myers Squibb by 1.1% in the 4th quarter. Thoroughbred Financial Services LLC now owns 17,763 shares of the biopharmaceutical company's stock valued at $1,004,000 after purchasing an additional 190 shares in the last quarter. Marcum Wealth LLC raised its position in Bristol Myers Squibb by 1.0% in the 1st quarter. Marcum Wealth LLC now owns 19,296 shares of the biopharmaceutical company's stock valued at $1,177,000 after purchasing an additional 193 shares in the last quarter. Beacon Investment Advisory Services Inc. raised its position in Bristol Myers Squibb by 2.7% in the 1st quarter. Beacon Investment Advisory Services Inc. now owns 8,063 shares of the biopharmaceutical company's stock valued at $492,000 after purchasing an additional 212 shares in the last quarter. Nemes Rush Group LLC raised its position in Bristol Myers Squibb by 0.8% in the 4th quarter. Nemes Rush Group LLC now owns 27,027 shares of the biopharmaceutical company's stock valued at $1,529,000 after purchasing an additional 221 shares in the last quarter. Finally, 1858 Wealth Management LLC raised its position in Bristol Myers Squibb by 3.6% in the 1st quarter. 1858 Wealth Management LLC now owns 6,421 shares of the biopharmaceutical company's stock valued at $392,000 after purchasing an additional 221 shares in the last quarter. Institutional investors and hedge funds own 76.41% of the company's stock.

Bristol Myers Squibb Stock Performance

Shares of BMY stock traded down $0.30 during midday trading on Wednesday, hitting $46.57. The company had a trading volume of 4,032,357 shares, compared to its average volume of 13,230,047. The company has a debt-to-equity ratio of 2.65, a current ratio of 1.28 and a quick ratio of 1.17. Bristol Myers Squibb Company has a 52-week low of $44.00 and a 52-week high of $63.33. The stock has a market cap of $94.76 billion, a price-to-earnings ratio of 17.45, a PEG ratio of 2.50 and a beta of 0.36. The company's 50 day simple moving average is $47.65 and its 200 day simple moving average is $52.49.

Bristol Myers Squibb Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Thursday, July 3rd will be paid a $0.62 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $2.48 dividend on an annualized basis and a dividend yield of 5.33%. Bristol Myers Squibb's dividend payout ratio (DPR) is presently 92.88%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. UBS Group cut their target price on Bristol Myers Squibb from $60.00 to $54.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. Cantor Fitzgerald reissued a "neutral" rating and set a $55.00 target price on shares of Bristol Myers Squibb in a research report on Tuesday, April 22nd. Wall Street Zen downgraded Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a research note on Friday, June 6th. 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. Finally, Piper Sandler started coverage on Bristol Myers Squibb in a research note on Tuesday, April 22nd. They set an "overweight" rating and a $65.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, six have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $58.53.

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.