CCM Investment Group LLC Acquires Shares of 95,768 Bristol Myers Squibb Company (NYSE:BMY)

Key Points

• CCM Investment Group LLC has acquired 95,768 shares of Bristol Myers Squibb Company for approximately $5,748,000, making it the firm's 27th largest holding.
• Bristol Myers Squibb recently reported an earnings per share (EPS) of $1.46 for the quarter, exceeding the consensus estimate of $1.07.
• The company declared a quarterly dividend of $0.62 per share, resulting in an annualized dividend yield of 5.4%.

CCM Investment Group LLC purchased a new stake in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 95,768 shares of the biopharmaceutical company's stock, valued at approximately $5,748,000. Bristol Myers Squibb accounts for 0.6% of CCM Investment Group LLC's holdings, making the stock its 27th biggest position.

Other institutional investors have also added to or reduced their stakes in the company. Marcum Wealth LLC lifted its holdings in Bristol Myers Squibb by 1.0% during the first 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 during the last quarter. Beacon Investment Advisory Services Inc. lifted its holdings in shares of Bristol Myers Squibb by 2.7% in the first quarter. Beacon Investment Advisory Services Inc. now owns 8,063 shares of the biopharmaceutical company's stock worth $492,000 after buying an additional 212 shares in the last quarter. 1858 Wealth Management LLC lifted its holdings in shares of Bristol Myers Squibb by 3.6% in the first quarter. 1858 Wealth Management LLC now owns 6,421 shares of the biopharmaceutical company's stock worth $392,000 after buying an additional 221 shares in the last quarter. Tompkins Financial Corp lifted its holdings in shares of Bristol Myers Squibb by 2.5% in the first quarter. Tompkins Financial Corp now owns 9,151 shares of the biopharmaceutical company's stock worth $558,000 after buying an additional 225 shares in the last quarter. Finally, LS Investment Advisors LLC lifted its holdings in shares of Bristol Myers Squibb by 1.3% in the first quarter. LS Investment Advisors LLC now owns 17,015 shares of the biopharmaceutical company's stock worth $1,038,000 after buying an additional 225 shares in the last quarter. 76.41% of the stock is owned by hedge funds and other institutional investors.

Bristol Myers Squibb Price Performance

NYSE BMY traded down $0.04 on Monday, reaching $45.91. 8,663,225 shares of the company's stock traded hands, compared to its average volume of 13,566,976. Bristol Myers Squibb Company has a 12 month low of $42.96 and a 12 month high of $63.33. The company has a debt-to-equity ratio of 2.54, a current ratio of 1.21 and a quick ratio of 1.11. The stock has a 50-day simple moving average of $47.26 and a 200 day simple moving average of $51.72. The stock has a market cap of $93.45 billion, a PE ratio of 18.51, a P/E/G ratio of 2.35 and a beta of 0.36.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 EPS for the quarter, beating analysts' consensus estimates 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 business had revenue of $12.27 billion for the quarter, compared to analysts' expectations of $11.32 billion. During the same period last year, the business earned $2.07 earnings per share. The business's quarterly revenue was up .6% on a year-over-year basis. As a group, research analysts predict that Bristol Myers Squibb Company will post 6.74 earnings per share for the current year.

Bristol Myers Squibb Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Morgan Stanley reissued a "hold" rating on shares of Bristol Myers Squibb in a report on Thursday, July 31st. Cantor Fitzgerald reissued a "neutral" rating and issued a $55.00 price target on shares of Bristol Myers Squibb in a report on Tuesday, April 22nd. Citigroup lowered their price target on shares of 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 downgraded shares of Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a research note on Friday, June 6th. Finally, Daiwa Capital Markets downgraded shares of Bristol Myers Squibb from an "outperform" rating to a "neutral" rating and set a $42.00 target price on the stock. in a research note on Tuesday, August 5th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Bristol Myers Squibb currently has a consensus rating of "Hold" and an average price target of $56.38.

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.