FCG Investment Co Takes Position in Bristol Myers Squibb Company (NYSE:BMY)

Key Points

• FCG Investment Co has acquired a new stake in Bristol Myers Squibb, purchasing 10,552 shares worth approximately $644,000 during the first quarter.
• Several institutional investors have also increased or modified their holdings in Bristol Myers Squibb, highlighting a strong institutional interest with 76.41% of the stock owned by these entities.
• Bristol Myers Squibb reported a quarterly EPS of $1.46, exceeding analysts' expectations, and declared a quarterly dividend of $0.62, representing an annual yield of 5.1%.

FCG Investment Co purchased a new stake in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 10,552 shares of the biopharmaceutical company's stock, valued at approximately $644,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of BMY. Brighton Jones LLC lifted its holdings in shares of Bristol Myers Squibb by 33.4% during the 4th quarter. Brighton Jones LLC now owns 19,728 shares of the biopharmaceutical company's stock valued at $1,116,000 after buying an additional 4,935 shares during the period. Bank Pictet & Cie Europe AG purchased a new stake in shares of Bristol Myers Squibb in the 4th quarter worth $13,094,000. Capital International Ltd. CA increased its stake in shares of Bristol Myers Squibb by 0.8% in the 4th quarter. Capital International Ltd. CA now owns 60,180 shares of the biopharmaceutical company's stock worth $3,404,000 after purchasing an additional 452 shares in the last quarter. Freedom Investment Management Inc. increased its stake in shares of Bristol Myers Squibb by 51.3% in the 4th quarter. Freedom Investment Management Inc. now owns 17,806 shares of the biopharmaceutical company's stock worth $1,007,000 after purchasing an additional 6,040 shares in the last quarter. Finally, Forum Financial Management LP increased its stake in shares of Bristol Myers Squibb by 47.8% in the 4th quarter. Forum Financial Management LP now owns 16,884 shares of the biopharmaceutical company's stock worth $955,000 after purchasing an additional 5,462 shares in the last quarter. 76.41% of the stock is owned by institutional investors.

Bristol Myers Squibb Trading Up 1.3%

Shares of Bristol Myers Squibb stock opened at $48.45 on Friday. The firm has a market cap of $98.62 billion, a price-to-earnings ratio of 19.54, a PEG ratio of 2.48 and a beta of 0.36. The business has a 50-day moving average price of $47.23 and a 200-day moving average price of $51.45. The company has a quick ratio of 1.11, a current ratio of 1.21 and a debt-to-equity ratio of 2.54. Bristol Myers Squibb Company has a twelve month low of $42.96 and a twelve month high of $63.33.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last announced its quarterly earnings results 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 net margin of 10.58% and a return on equity of 80.04%. The firm had revenue of $12.27 billion during the quarter, compared to the consensus estimate of $11.32 billion. During the same quarter last year, the firm earned $2.07 EPS. The firm's revenue for the quarter was up .6% compared to the same quarter last year. Equities research analysts anticipate that Bristol Myers Squibb Company will post 6.74 EPS for the current fiscal year.

Bristol Myers Squibb Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Thursday, July 3rd were issued 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 (DPR) is presently 100.00%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Daiwa America lowered Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 5th. William Blair restated a "market perform" rating on shares of Bristol Myers Squibb in a research note on Friday, April 25th. Wall Street Zen lowered Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a research note on Friday, June 6th. Daiwa Capital Markets lowered Bristol Myers Squibb from an "outperform" rating to a "neutral" rating and set a $42.00 price objective for the company. in a research note on Tuesday, August 5th. Finally, Argus upgraded Bristol Myers Squibb to a "hold" rating in a research note on Friday, April 25th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus 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.

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