Bristol Myers Squibb Company (NYSE:BMY) Stake Increased by Goldman Sachs Group Inc.

Key Points

• Goldman Sachs Group Inc. increased its stake in Bristol Myers Squibb by 17.7%, acquiring an additional 2,117,249 shares and now owning 0.69% of the company worth approximately $856.99 million.
• Bristol Myers Squibb reported a quarterly earnings per share (EPS) of $1.46, significantly surpassing the consensus estimate of $1.07, along with revenue of $12.27 billion.
• The company's recent dividend announcement included a quarterly payment of $0.62 per share, reflecting an annualized payout of $2.48 and a yield of 5.5%.

Goldman Sachs Group Inc. grew its stake in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 17.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,051,319 shares of the biopharmaceutical company's stock after purchasing an additional 2,117,249 shares during the quarter. Goldman Sachs Group Inc. owned approximately 0.69% of Bristol Myers Squibb worth $856,990,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC boosted its holdings in shares of Bristol Myers Squibb by 33.4% in 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 bought a new stake in Bristol Myers Squibb during the 4th quarter worth about $13,094,000. Bank of Nova Scotia lifted its stake in Bristol Myers Squibb by 25.0% in the fourth quarter. Bank of Nova Scotia now owns 581,750 shares of the biopharmaceutical company's stock valued at $32,904,000 after buying an additional 116,513 shares in the last quarter. Renaissance Technologies LLC increased its holdings in Bristol Myers Squibb by 16.7% during the fourth quarter. Renaissance Technologies LLC now owns 1,060,533 shares of the biopharmaceutical company's stock worth $59,984,000 after buying an additional 151,995 shares during the last quarter. Finally, Advisory Services Network LLC lifted its position in Bristol Myers Squibb by 15.6% during the fourth quarter. Advisory Services Network LLC now owns 101,250 shares of the biopharmaceutical company's stock worth $5,727,000 after purchasing an additional 13,634 shares during the period. 76.41% of the stock is owned by hedge funds and other institutional investors.

Bristol Myers Squibb Trading Up 0.1%

Shares of Bristol Myers Squibb stock traded up $0.03 during trading on Monday, hitting $45.98. The company's stock had a trading volume of 1,871,765 shares, compared to its average volume of 13,423,582. The stock has a market cap of $93.58 billion, a price-to-earnings ratio of 18.56, a price-to-earnings-growth ratio of 2.35 and a beta of 0.36. 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 Company has a 52 week low of $42.96 and a 52 week high of $63.33. The stock has a 50-day moving average price of $47.32 and a two-hundred day moving average price of $51.82.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last announced its earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 earnings per share for the quarter, beating analysts' consensus estimates of $1.07 by $0.39. The business had revenue of $12.27 billion during the quarter, compared to the consensus estimate 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 revenue for the quarter was up .6% on a year-over-year basis. During the same quarter last year, the firm earned $2.07 earnings per share. Equities research analysts anticipate that Bristol Myers Squibb Company will post 6.74 EPS for the current fiscal year.

Bristol Myers Squibb Announces Dividend

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

Wall Street Analyst Weigh In

BMY has been the topic of a number of research reports. Argus upgraded Bristol Myers Squibb to a "hold" rating in a research note on Friday, April 25th. Citigroup reduced their target price 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. Morgan Stanley reiterated a "hold" rating on shares of Bristol Myers Squibb in a research report on Thursday, July 31st. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $55.00 price objective on shares of Bristol Myers Squibb in a research report on Tuesday, April 22nd. Finally, William Blair restated a "market perform" rating on shares of Bristol Myers Squibb in a report on Friday, April 25th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price 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.