Commonwealth Equity Services LLC Buys 13,959 Shares of Bristol Myers Squibb Company (NYSE:BMY)

Key Points

• Commonwealth Equity Services LLC increased its holdings in Bristol Myers Squibb by 1.1%, owning approximately 1.29 million shares valued at $78.58 million after acquiring an additional 13,959 shares.
• Bristol Myers Squibb reported a quarterly earnings per share (EPS) of $1.46, outperforming analysts' expectations by $0.39, and achieved a revenue of $12.27 billion for the quarter.
• The company declared a quarterly dividend of $0.62 per share, resulting in an annual yield of 5.6%, with a 100% dividend payout ratio.

Commonwealth Equity Services LLC grew its stake in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 1.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,288,407 shares of the biopharmaceutical company's stock after purchasing an additional 13,959 shares during the period. Commonwealth Equity Services LLC owned approximately 0.06% of Bristol Myers Squibb worth $78,580,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Raiffeisen Bank International AG lifted its stake in shares of Bristol Myers Squibb by 4.4% in the 1st quarter. Raiffeisen Bank International AG now owns 383,299 shares of the biopharmaceutical company's stock valued at $23,032,000 after purchasing an additional 16,059 shares during the last quarter. Heritage Trust Co raised its holdings in shares of Bristol Myers Squibb by 17.9% in the first quarter. Heritage Trust Co now owns 25,287 shares of the biopharmaceutical company's stock worth $1,542,000 after buying an additional 3,833 shares during the period. Avalon Trust Co raised its holdings in shares of Bristol Myers Squibb by 379.3% in the first quarter. Avalon Trust Co now owns 2,497 shares of the biopharmaceutical company's stock worth $152,000 after buying an additional 1,976 shares during the period. Delta Financial Group Inc. raised its holdings in shares of Bristol Myers Squibb by 6.3% in the first quarter. Delta Financial Group Inc. now owns 46,807 shares of the biopharmaceutical company's stock worth $2,858,000 after buying an additional 2,779 shares during the period. Finally, Scotia Capital Inc. raised its holdings in shares of Bristol Myers Squibb by 6.8% in the first quarter. Scotia Capital Inc. now owns 366,127 shares of the biopharmaceutical company's stock worth $22,330,000 after buying an additional 23,242 shares during the period. 76.41% of the stock is owned by institutional investors.

Bristol Myers Squibb Trading Up 2.2%

BMY opened at $44.25 on Monday. Bristol Myers Squibb Company has a one year low of $42.96 and a one year high of $63.33. The stock has a market capitalization of $90.07 billion, a PE ratio of 17.84, a P/E/G ratio of 2.33 and a beta of 0.36. The business's 50 day moving average price is $47.51 and its 200 day moving average price is $52.23. The company has a debt-to-equity ratio of 2.54, a quick ratio of 1.11 and a current ratio of 1.21.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last released its quarterly earnings data 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 return on equity of 80.04% and a net margin of 10.58%. The firm had revenue of $12.27 billion for the quarter, compared to analysts' expectations of $11.32 billion. During the same period in the prior year, the firm posted $2.07 earnings per share. The firm's quarterly revenue was up .6% on a year-over-year basis. As a group, equities research analysts expect that Bristol Myers Squibb Company will post 6.74 EPS for the current year.

Bristol Myers Squibb Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Thursday, July 3rd were paid a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 5.6%. The ex-dividend date was Thursday, July 3rd. Bristol Myers Squibb's dividend payout ratio is 100.00%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on BMY shares. UBS Group reduced their price target on Bristol Myers Squibb from $60.00 to $54.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. Wall Street Zen downgraded Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a report on Friday, June 6th. Piper Sandler started coverage on Bristol Myers Squibb in a report on Tuesday, April 22nd. They set an "overweight" rating and a $65.00 price objective on the stock. Citigroup reduced their price objective on Bristol Myers Squibb from $51.00 to $47.00 and set a "neutral" rating on the stock in a report on Friday. Finally, Cantor Fitzgerald restated a "neutral" rating and set a $55.00 price objective on shares of Bristol Myers Squibb in a report on Tuesday, April 22nd. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, Bristol Myers Squibb presently has a consensus rating of "Hold" and a consensus target price of $57.33.

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.

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