Howland Capital Management LLC Boosts Stock Position in Bristol Myers Squibb Company (NYSE:BMY)

Key Points

• Howland Capital Management LLC increased its stake in Bristol Myers Squibb by 48.3%, now holding 29,267 shares worth approximately $1.79 million.
• In the most recent quarter, Bristol Myers Squibb reported an EPS of $1.46 and revenue of $12.27 billion, surpassing analyst expectations.
• The company announced a quarterly dividend of $0.62, reflecting an annualized dividend yield of 5.7%.

Howland Capital Management LLC lifted its holdings in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 48.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,267 shares of the biopharmaceutical company's stock after purchasing an additional 9,535 shares during the quarter. Howland Capital Management LLC's holdings in Bristol Myers Squibb were worth $1,785,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Thoroughbred Financial Services LLC lifted its position in Bristol Myers Squibb by 1.1% in the fourth quarter. Thoroughbred Financial Services LLC now owns 17,763 shares of the biopharmaceutical company's stock valued at $1,004,000 after purchasing an additional 190 shares during the last quarter. Marcum Wealth LLC lifted its position in Bristol Myers Squibb by 1.0% in the first quarter. Marcum Wealth LLC now owns 19,296 shares of the biopharmaceutical company's stock valued at $1,177,000 after purchasing an additional 193 shares during the last quarter. Beacon Investment Advisory Services Inc. lifted its position in Bristol Myers Squibb by 2.7% in the first quarter. Beacon Investment Advisory Services Inc. now owns 8,063 shares of the biopharmaceutical company's stock valued at $492,000 after purchasing an additional 212 shares during the last quarter. 1858 Wealth Management LLC lifted its position in Bristol Myers Squibb by 3.6% in the first quarter. 1858 Wealth Management LLC now owns 6,421 shares of the biopharmaceutical company's stock valued at $392,000 after purchasing an additional 221 shares during the last quarter. Finally, Tompkins Financial Corp lifted its position in Bristol Myers Squibb by 2.5% in the first quarter. Tompkins Financial Corp now owns 9,151 shares of the biopharmaceutical company's stock valued at $558,000 after purchasing an additional 225 shares during the last quarter. Hedge funds and other institutional investors own 76.41% of the company's stock.

Bristol Myers Squibb Stock Performance

Shares of Bristol Myers Squibb stock traded up $0.30 during trading on Tuesday, hitting $45.70. 6,486,373 shares of the company's stock traded hands, compared to its average volume of 13,515,192. 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 1 year low of $42.96 and a 1 year high of $63.33. The stock has a market capitalization of $93.00 billion, a P/E ratio of 18.41, a PEG ratio of 2.33 and a beta of 0.36. The business has a 50-day simple moving average of $47.48 and a 200-day simple moving average of $52.15.

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 (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $12.27 billion for the quarter, compared to analysts' expectations of $11.32 billion. During the same period last year, the firm posted $2.07 earnings per share. The business's revenue for the quarter was up .6% on a year-over-year basis. As a group, 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. Stockholders of record on Thursday, July 3rd were given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 5.4%. The ex-dividend date of this dividend was Thursday, July 3rd. Bristol Myers Squibb's payout ratio is presently 100.00%.

Analysts Set New Price Targets

Several brokerages have weighed in on BMY. Daiwa Capital Markets downgraded Bristol Myers Squibb from an "outperform" rating to a "neutral" rating and set a $42.00 price objective for the company. in a research report on Tuesday. Jefferies Financial Group decreased their target price on Bristol Myers Squibb from $70.00 to $68.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. Argus upgraded Bristol Myers Squibb to a "hold" rating in a report on Friday, April 25th. Cantor Fitzgerald restated a "neutral" rating and set a $55.00 target price on shares of Bristol Myers Squibb in a report on Tuesday, April 22nd. Finally, Citigroup decreased their target price on Bristol Myers Squibb from $51.00 to $47.00 and set a "neutral" rating for the company in a report on Friday. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company. According to 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.