Brookwood Investment Group LLC Acquires New Stake in Bristol Myers Squibb Company (NYSE:BMY)

Brookwood Investment Group LLC acquired a new position in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 27,986 shares of the biopharmaceutical company's stock, valued at approximately $1,707,000.

Other large investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Bristol Myers Squibb in the fourth quarter valued at about $1,989,525,000. Ameriprise Financial Inc. boosted its stake in Bristol Myers Squibb by 59.9% during the fourth quarter. Ameriprise Financial Inc. now owns 32,079,246 shares of the biopharmaceutical company's stock worth $1,814,341,000 after buying an additional 12,011,983 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its stake in Bristol Myers Squibb by 701.2% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 12,470,106 shares of the biopharmaceutical company's stock worth $705,309,000 after buying an additional 10,913,708 shares during the period. Wellington Management Group LLP boosted its stake in Bristol Myers Squibb by 3,880.0% during the fourth quarter. Wellington Management Group LLP now owns 5,977,505 shares of the biopharmaceutical company's stock worth $338,088,000 after buying an additional 5,827,317 shares during the period. Finally, Schroder Investment Management Group boosted its stake in Bristol Myers Squibb by 49.7% during the fourth quarter. Schroder Investment Management Group now owns 11,413,428 shares of the biopharmaceutical company's stock worth $639,837,000 after buying an additional 3,787,075 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 BMY traded down $0.91 during mid-day trading on Monday, reaching $47.52. 7,341,083 shares of the company's stock were exchanged, compared to its average volume of 13,309,942. The company has a debt-to-equity ratio of 2.65, a current ratio of 1.28 and a quick ratio of 1.17. The stock has a market capitalization of $96.71 billion, a PE ratio of 17.80, a price-to-earnings-growth ratio of 2.53 and a beta of 0.36. The business's fifty day simple moving average is $47.67 and its 200-day simple moving average is $52.59. Bristol Myers Squibb Company has a 52-week low of $44.00 and a 52-week high of $63.33.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last announced its earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.50 by $0.30. The business had revenue of $11.20 billion for the quarter, compared to analyst estimates of $10.77 billion. Bristol Myers Squibb had a net margin of 11.38% and a return on equity of 87.62%. The company's revenue for the quarter was down 5.6% compared to the same quarter last year. During the same period last year, the firm posted ($4.40) earnings per share. On average, equities research analysts expect that Bristol Myers Squibb Company will post 6.74 earnings per share for the current year.

Bristol Myers Squibb Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 3rd will be given a dividend of $0.62 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $2.48 dividend on an annualized basis and a dividend yield of 5.22%. Bristol Myers Squibb's dividend payout ratio (DPR) is presently 92.88%.

Analysts Set New Price Targets

BMY has been the subject of several research analyst reports. William Blair reaffirmed a "market perform" rating on shares of Bristol Myers Squibb in a research note on Friday, April 25th. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $55.00 target price on shares of Bristol Myers Squibb in a research note on Tuesday, April 22nd. Morgan Stanley lowered their target price on shares of Bristol Myers Squibb from $36.00 to $34.00 and set an "underweight" rating for the company in a research note on Thursday, July 10th. Argus raised shares of Bristol Myers Squibb to a "hold" rating in a research report on Friday, April 25th. Finally, Piper Sandler began coverage on shares of Bristol Myers Squibb in a research report on Tuesday, April 22nd. They set an "overweight" rating and a $65.00 price target on the stock. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus 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.