GQG Partners LLC Boosts Position in Bristol Myers Squibb Company (NYSE:BMY)

Key Points

• GQG Partners LLC significantly increased its stake in Bristol Myers Squibb by 22,647.6%, owning over 12 million shares, which now accounts for about 1.2% of its investment portfolio.
• The company reported an EPS of $1.46 for the last quarter, exceeding analysts' estimates, alongside a revenue of $12.27 billion.
• The recent quarterly dividend of $0.62 reflects a 5.3% yield, with a dividend payout ratio of 100.00%.

GQG Partners LLC raised its stake in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 22,647.6% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 12,023,454 shares of the biopharmaceutical company's stock after purchasing an additional 11,970,598 shares during the period. Bristol Myers Squibb accounts for about 1.2% of GQG Partners LLC's investment portfolio, making the stock its 29th biggest holding. GQG Partners LLC owned approximately 0.59% of Bristol Myers Squibb worth $733,310,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently made changes to their positions in the business. Marcum Wealth LLC boosted its stake in Bristol Myers Squibb by 1.0% during the first quarter. Marcum Wealth LLC now owns 19,296 shares of the biopharmaceutical company's stock valued at $1,177,000 after buying an additional 193 shares during the last quarter. Beacon Investment Advisory Services Inc. boosted its stake in Bristol Myers Squibb by 2.7% during the first quarter. Beacon Investment Advisory Services Inc. now owns 8,063 shares of the biopharmaceutical company's stock valued at $492,000 after buying an additional 212 shares during the last quarter. 1858 Wealth Management LLC boosted its stake in Bristol Myers Squibb by 3.6% during the first quarter. 1858 Wealth Management LLC now owns 6,421 shares of the biopharmaceutical company's stock valued at $392,000 after buying an additional 221 shares during the last quarter. Tompkins Financial Corp boosted its stake in Bristol Myers Squibb by 2.5% during the first quarter. Tompkins Financial Corp now owns 9,151 shares of the biopharmaceutical company's stock valued at $558,000 after buying an additional 225 shares during the last quarter. Finally, LS Investment Advisors LLC lifted its stake in shares of Bristol Myers Squibb by 1.3% in the 1st quarter. LS Investment Advisors LLC now owns 17,015 shares of the biopharmaceutical company's stock valued at $1,038,000 after purchasing an additional 225 shares during the last quarter. Institutional investors own 76.41% of the company's stock.

Bristol Myers Squibb Trading Up 1.2%

Shares of Bristol Myers Squibb stock opened at $46.49 on Wednesday. The stock has a market cap of $94.63 billion, a P/E ratio of 18.75, a P/E/G ratio of 2.35 and a beta of 0.36. The stock's 50 day simple moving average is $47.23 and its 200-day simple moving average is $51.68. Bristol Myers Squibb Company has a 1-year low of $42.96 and a 1-year high of $63.33. 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 released its quarterly earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 EPS for the quarter, topping 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 company 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 earned $2.07 earnings per share. The firm's revenue was up .6% compared to the same quarter last year. Analysts predict that Bristol Myers Squibb Company will post 6.74 EPS for the current fiscal year.

Bristol Myers Squibb Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Thursday, July 3rd were paid a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 5.3%. The ex-dividend date was Thursday, July 3rd. Bristol Myers Squibb's dividend payout ratio is currently 100.00%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports 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. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $55.00 price objective on shares of Bristol Myers Squibb in a research note on Tuesday, April 22nd. Morgan Stanley reaffirmed a "hold" rating on shares of Bristol Myers Squibb in a research note on Thursday, July 31st. Jefferies Financial Group lowered their price objective on Bristol Myers Squibb from $70.00 to $68.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Finally, Citigroup reduced their price target on Bristol Myers Squibb from $51.00 to $47.00 and set a "neutral" rating on the stock in a report on Friday, August 1st. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Bristol Myers Squibb has a consensus 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.

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