Cary Street Partners Financial LLC Buys 52,477 Shares of Bristol Myers Squibb Company (NYSE:BMY)

Key Points

• Cary Street Partners Financial LLC significantly increased its holdings in Bristol Myers Squibb Company by 129.0%, acquiring an additional 52,477 shares to own a total of 93,166 shares worth approximately $5.68 million.
• Recent quarterly earnings showed Bristol Myers Squibb reported $1.46 EPS, surpassing estimates of $1.07, with revenues up 0.6% year-over-year at $12.27 billion.
• The company declared a quarterly dividend of $0.62 per share, with a current annual yield of 5.4%, although its dividend payout ratio stands at 100.00%.

Cary Street Partners Financial LLC raised its stake in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 129.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 93,166 shares of the biopharmaceutical company's stock after buying an additional 52,477 shares during the period. Cary Street Partners Financial LLC's holdings in Bristol Myers Squibb were worth $5,682,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of BMY. Capital International Investors raised its position in Bristol Myers Squibb by 7.5% in the fourth quarter. Capital International Investors now owns 45,866,624 shares of the biopharmaceutical company's stock worth $2,593,940,000 after acquiring an additional 3,218,865 shares in the last quarter. Ameriprise Financial Inc. grew its stake in shares of Bristol Myers Squibb by 59.9% in the 4th quarter. Ameriprise Financial Inc. now owns 32,079,246 shares of the biopharmaceutical company's stock worth $1,814,341,000 after purchasing an additional 12,011,983 shares during the last quarter. Bank of New York Mellon Corp raised its holdings 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 worth $1,638,501,000 after purchasing an additional 2,131,205 shares in the last quarter. Northern Trust Corp lifted its stake in Bristol Myers Squibb by 16.2% during the fourth quarter. Northern Trust Corp now owns 24,658,360 shares of the biopharmaceutical company's stock valued at $1,394,677,000 after purchasing an additional 3,431,248 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Bristol Myers Squibb by 16.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 22,271,742 shares of the biopharmaceutical company's stock worth $1,259,690,000 after buying an additional 3,196,919 shares in the last quarter. Institutional investors and hedge funds own 76.41% of the company's stock.

Bristol Myers Squibb Stock Up 1.1%

BMY traded up $0.50 during trading on Thursday, reaching $45.32. 11,839,864 shares of the stock traded hands, compared to its average volume of 13,897,906. The stock's 50-day simple moving average is $47.36 and its two-hundred day simple moving average is $51.98. The company has a debt-to-equity ratio of 2.54, a current ratio of 1.21 and a quick ratio of 1.11. Bristol Myers Squibb Company has a fifty-two week low of $42.96 and a fifty-two week high of $63.33. The stock has a market cap of $92.24 billion, a price-to-earnings ratio of 18.27, a price-to-earnings-growth ratio of 2.29 and a beta of 0.36.

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

Bristol Myers Squibb Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Thursday, July 3rd were issued a dividend of $0.62 per share. The ex-dividend date was Thursday, July 3rd. This represents a $2.48 dividend on an annualized basis and a dividend yield of 5.5%. Bristol Myers Squibb's dividend payout ratio (DPR) is currently 100.00%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on BMY shares. Citigroup dropped their price target on Bristol Myers Squibb from $51.00 to $47.00 and set a "neutral" rating on the stock in a report on Friday, August 1st. Wall Street Zen lowered Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a research report on Friday, June 6th. Cantor Fitzgerald reiterated a "neutral" rating and issued a $55.00 price target on shares of Bristol Myers Squibb in a research report on Tuesday, April 22nd. Jefferies Financial Group cut their price objective on Bristol Myers Squibb from $70.00 to $68.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Finally, Daiwa America cut shares of Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a report on Tuesday. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Bristol Myers Squibb 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.