Empirical Financial Services LLC d.b.a. Empirical Wealth Management Acquires 54,810 Shares of Bristol Myers Squibb Company (NYSE:BMY)

Key Points

• Empirical Financial Services LLC significantly increased its holdings in Bristol Myers Squibb Company by 273.6%, purchasing an additional 54,810 shares in the first quarter, bringing its total to 74,846 shares worth approximately $4.57 million.
• Bristol Myers Squibb reported a better-than-expected quarterly earnings of $1.46 per share, exceeding the consensus estimate and achieving a revenue of $12.27 billion, which is up 0.6% from the previous year.
• The company declared a quarterly dividend of $0.62 per share, translating to an annual yield of 5.7%, with a high dividend payout ratio of 92.88%.

Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its holdings in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 273.6% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 74,846 shares of the biopharmaceutical company's stock after purchasing an additional 54,810 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management's holdings in Bristol Myers Squibb were worth $4,565,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its holdings in shares of Bristol Myers Squibb by 33.4% during the fourth quarter. Brighton Jones LLC now owns 19,728 shares of the biopharmaceutical company's stock worth $1,116,000 after buying an additional 4,935 shares in the last quarter. Bank Pictet & Cie Europe AG acquired a new stake in shares of Bristol Myers Squibb during the fourth quarter worth approximately $13,094,000. Meeder Advisory Services Inc. increased its holdings in shares of Bristol Myers Squibb by 29.1% in the fourth quarter. Meeder Advisory Services Inc. now owns 34,845 shares of the biopharmaceutical company's stock valued at $1,971,000 after purchasing an additional 7,864 shares in the last quarter. OneAscent Financial Services LLC increased its holdings in shares of Bristol Myers Squibb by 30.0% in the fourth quarter. OneAscent Financial Services LLC now owns 11,512 shares of the biopharmaceutical company's stock valued at $651,000 after purchasing an additional 2,657 shares in the last quarter. Finally, Westpac Banking Corp increased its holdings in shares of Bristol Myers Squibb by 12.6% in the fourth quarter. Westpac Banking Corp now owns 43,173 shares of the biopharmaceutical company's stock valued at $2,442,000 after purchasing an additional 4,840 shares in the last quarter. 76.41% of the stock is owned by institutional investors.

Bristol Myers Squibb Trading Up 0.5%

BMY traded up $0.22 during trading on Tuesday, reaching $45.62. 6,169,117 shares of the company's stock were exchanged, compared to its average volume of 13,511,545. The company's fifty day moving average price is $47.48 and its 200-day moving average price is $52.15. 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 Company has a fifty-two week low of $42.96 and a fifty-two week high of $63.33. The firm has a market capitalization of $92.84 billion, a PE ratio of 18.41, a P/E/G ratio of 2.33 and a beta of 0.36.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 earnings per share for the quarter, topping analysts' consensus estimates of $1.07 by $0.39. The company had revenue of $12.27 billion for the quarter, compared to analysts' expectations of $11.32 billion. Bristol Myers Squibb had a net margin of 10.58% and a return on equity of 80.04%. The business's quarterly revenue was up .6% compared to the same quarter last year. During the same period last year, the firm posted $2.07 earnings per share. As a group, equities analysts forecast that Bristol Myers Squibb Company will post 6.74 EPS for the current year.

Bristol Myers Squibb Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Thursday, July 3rd were given a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 5.4%. The ex-dividend date of this dividend was Thursday, July 3rd. Bristol Myers Squibb's payout ratio is currently 100.00%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on BMY shares. Argus raised shares of Bristol Myers Squibb to a "hold" rating in a report on Friday, April 25th. 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. Morgan Stanley reissued a "hold" rating on shares of Bristol Myers Squibb in a report on Thursday. Citigroup lowered their price target on shares of Bristol Myers Squibb from $51.00 to $47.00 and set a "neutral" rating for the company in a report on Friday. Finally, UBS Group lowered their price target on shares of Bristol Myers Squibb from $60.00 to $54.00 and set a "neutral" rating for the company in a report on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, five have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, Bristol Myers Squibb has an average rating of "Hold" and an average target price of $56.38.

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.