Chapin Davis Inc. Boosts Stake in Bristol Myers Squibb Company (NYSE:BMY)

Chapin Davis Inc. grew its stake in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 25.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,714 shares of the biopharmaceutical company's stock after acquiring an additional 5,977 shares during the period. Chapin Davis Inc.'s holdings in Bristol Myers Squibb were worth $1,812,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Norges Bank bought a new position in shares of Bristol Myers Squibb during the fourth quarter valued at approximately $1,989,525,000. Ameriprise Financial Inc. boosted its stake in shares of 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 valued at $1,814,341,000 after purchasing an additional 12,011,983 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its stake in shares of 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 valued at $705,309,000 after purchasing an additional 10,913,708 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of 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 valued at $338,088,000 after purchasing an additional 5,827,317 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in Bristol Myers Squibb during the fourth quarter valued at approximately $257,618,000. 76.41% of the stock is currently owned by institutional investors.

Bristol Myers Squibb Stock Performance

BMY opened at $46.87 on Monday. The firm has a market capitalization of $95.38 billion, a PE ratio of 17.55, a PEG ratio of 1.39 and a beta of 0.38. Bristol Myers Squibb Company has a twelve month low of $39.35 and a twelve month high of $63.33. The firm's 50-day moving average price is $48.20 and its 200 day moving average price is $54.29. The company has a current ratio of 1.28, a quick ratio of 1.17 and a debt-to-equity ratio of 2.65.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share for the quarter, topping analysts' consensus estimates of $1.50 by $0.30. The firm 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%. Bristol Myers Squibb's quarterly revenue was down 5.6% on a year-over-year basis. During the same period in the previous year, the business posted ($4.40) earnings per share. As a group, sell-side analysts expect that Bristol Myers Squibb Company will post 6.74 EPS for the current fiscal year.

Bristol Myers Squibb Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 3rd will be paid a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 5.29%. The ex-dividend date is Thursday, July 3rd. Bristol Myers Squibb's dividend payout ratio (DPR) is presently 92.88%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on BMY shares. 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 cut shares of Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a research report on Friday, June 6th. Argus raised shares of Bristol Myers Squibb to a "hold" rating in a research report on Friday, April 25th. The Goldman Sachs Group reissued a "neutral" rating and set a $55.00 target price (down previously from $67.00) on shares of Bristol Myers Squibb in a research report on Tuesday, April 8th. Finally, UBS Group decreased their target price on shares of Bristol Myers Squibb from $60.00 to $54.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. Two equities research analysts have rated the stock with a sell rating, thirteen have given 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 a consensus rating of "Hold" and an average price target of $58.00.

Insiders Place Their Bets

In related news, EVP Samit Hirawat purchased 4,250 shares of Bristol Myers Squibb stock in a transaction dated Friday, April 25th. The shares were acquired at an average cost of $47.58 per share, with a total value of $202,215.00. Following the purchase, the executive vice president now owns 83,513 shares of the company's stock, valued at approximately $3,973,548.54. The trade was a 5.36% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.07% of the stock is owned by insiders.

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.

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