Cetera Investment Advisers Buys 27,622 Shares of Bristol Myers Squibb Company (NYSE:BMY)

Key Points

• Cetera Investment Advisers increased its stake in Bristol Myers Squibb by 4.4%, now holding 661,731 shares valued at approximately $40.36 million.
• Bristol Myers Squibb reported earnings of $1.80 per share for the last quarter, exceeding estimates, with quarterly revenue at $11.20 billion, despite a 5.6% decline compared to the previous year.
• The company announced a quarterly dividend of $0.62, representing a yield of 5.12%, with a payout ratio of 92.88%.

Cetera Investment Advisers increased its position in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 4.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 661,731 shares of the biopharmaceutical company's stock after acquiring an additional 27,622 shares during the quarter. Cetera Investment Advisers' holdings in Bristol Myers Squibb were worth $40,359,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Polar Asset Management Partners Inc. acquired a new position in Bristol Myers Squibb in the fourth quarter valued at about $16,651,000. Avaii Wealth Management LLC raised its position in shares of Bristol Myers Squibb by 590.9% during the first quarter. Avaii Wealth Management LLC now owns 78,597 shares of the biopharmaceutical company's stock worth $4,794,000 after purchasing an additional 67,221 shares during the period. Assenagon Asset Management S.A. raised its position in shares of Bristol Myers Squibb by 1.4% during the first quarter. Assenagon Asset Management S.A. now owns 65,038 shares of the biopharmaceutical company's stock worth $3,967,000 after purchasing an additional 869 shares during the period. Shorepoint Capital Partners LLC raised its position in shares of Bristol Myers Squibb by 2.2% during the fourth quarter. Shorepoint Capital Partners LLC now owns 58,426 shares of the biopharmaceutical company's stock worth $3,305,000 after purchasing an additional 1,248 shares during the period. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in shares of Bristol Myers Squibb by 17.0% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 550,613 shares of the biopharmaceutical company's stock worth $33,582,000 after buying an additional 80,087 shares in the last quarter. Institutional investors and hedge funds own 76.41% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Argus upgraded Bristol Myers Squibb to a "hold" rating in a report on Friday, April 25th. William Blair restated a "market perform" rating on shares of Bristol Myers Squibb in a research note on Friday, April 25th. Morgan Stanley decreased their price target on 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. Piper Sandler assumed coverage on Bristol Myers Squibb in a research note on Tuesday, April 22nd. They issued an "overweight" rating and a $65.00 price target for the company. Finally, UBS Group decreased their price target on 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. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $58.53.

Bristol Myers Squibb Price Performance

BMY traded down $0.09 on Wednesday, reaching $46.77. The stock had a trading volume of 1,575,013 shares, compared to its average volume of 13,213,245. Bristol Myers Squibb Company has a fifty-two week low of $44.00 and a fifty-two week high of $63.33. The firm has a 50-day moving average of $47.65 and a 200-day moving average of $52.49. The company has a current ratio of 1.28, a quick ratio of 1.17 and a debt-to-equity ratio of 2.65. The company has a market capitalization of $95.18 billion, a price-to-earnings ratio of 17.51, a price-to-earnings-growth ratio of 2.50 and a beta of 0.36.

Bristol Myers Squibb Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 3rd will be given a $0.62 dividend. 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 5.30%. Bristol Myers Squibb's dividend payout ratio (DPR) is presently 92.88%.

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.