Dimensional Fund Advisors LP Cuts Stake in Bristol Myers Squibb Company $BMY

Key Points

• Dimensional Fund Advisors LP reduced its stake in Bristol Myers Squibb by 2.4%, selling 326,775 shares and holding approximately 0.66% of the company, valued at $815.4 million.
• Several hedge funds have adjusted their positions in Bristol Myers Squibb, with 76.41% of the stock now owned by institutional investors.
• Bristol Myers Squibb reported better-than-expected quarterly earnings of $1.46 per share, surpassing estimates by $0.39, with revenue of $12.27 billion against an expectation of $11.32 billion.

Dimensional Fund Advisors LP lessened its holdings in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 2.4% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 13,371,625 shares of the biopharmaceutical company's stock after selling 326,775 shares during the period. Dimensional Fund Advisors LP owned 0.66% of Bristol Myers Squibb worth $815,400,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in BMY. Ameriprise Financial Inc. grew its stake in shares of Bristol Myers Squibb by 59.9% in the fourth 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. GQG Partners LLC grew its stake in shares of Bristol Myers Squibb by 22,647.6% in the first quarter. GQG Partners LLC now owns 12,023,454 shares of the biopharmaceutical company's stock worth $733,310,000 after purchasing an additional 11,970,598 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its stake in shares of Bristol Myers Squibb by 701.2% in 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 worth $705,309,000 after purchasing an additional 10,913,708 shares during the last quarter. Nuveen LLC bought a new stake in shares of Bristol Myers Squibb in the first quarter worth about $624,369,000. Finally, Northern Trust Corp grew its stake in shares of Bristol Myers Squibb by 16.2% in the fourth quarter. Northern Trust Corp now owns 24,658,360 shares of the biopharmaceutical company's stock worth $1,394,677,000 after purchasing an additional 3,431,248 shares during the last quarter. Hedge funds and other institutional investors own 76.41% of the company's stock.

Bristol Myers Squibb Price Performance

BMY traded down $0.25 on Monday, reaching $48.19. 7,865,214 shares of the company's stock were exchanged, compared to its average volume of 12,742,200. The stock has a market cap of $98.09 billion, a PE ratio of 19.43, a P/E/G ratio of 2.48 and a beta of 0.36. Bristol Myers Squibb Company has a twelve month low of $42.96 and a twelve month high of $63.33. The stock's fifty day moving average price is $47.23 and its 200-day moving average price is $51.39. 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 (NYSE:BMY - Get Free Report) last posted its earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.39. The company had revenue of $12.27 billion for the quarter, compared to analyst estimates of $11.32 billion. Bristol Myers Squibb had a net margin of 10.58% and a return on equity of 80.04%. Bristol Myers Squibb's revenue was up .6% on a year-over-year basis. During the same period in the previous year, the business posted $2.07 EPS. Sell-side analysts expect that Bristol Myers Squibb Company will post 6.74 EPS for the current year.

Bristol Myers Squibb Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Thursday, July 3rd were given 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 dividend yield of 5.1%. Bristol Myers Squibb's dividend payout ratio is currently 100.00%.

Analysts Set New Price Targets

Several research firms recently issued reports on BMY. Jefferies Financial Group cut their target price on Bristol Myers Squibb from $70.00 to $68.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Piper Sandler assumed coverage on Bristol Myers Squibb in a research report on Tuesday, April 22nd. They set an "overweight" rating and a $65.00 price objective on the stock. Daiwa Capital Markets cut Bristol Myers Squibb from an "outperform" rating to a "neutral" rating and set a $42.00 price objective on the stock. in a research report on Tuesday, August 5th. Citigroup cut their price objective on Bristol Myers Squibb from $51.00 to $47.00 and set a "neutral" rating on the stock in a research report on Friday, August 1st. Finally, Morgan Stanley reaffirmed a "hold" rating on shares of Bristol Myers Squibb in a research report on Thursday, July 31st. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus 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.