J.P. Marvel Investment Advisors LLC Acquires 6,556 Shares of Bristol Myers Squibb Company (NYSE:BMY)

Key Points

• J.P. Marvel Investment Advisors LLC has increased its stake in Bristol Myers Squibb Company by 4.1%, now holding 165,900 shares valued at approximately $10.1 million.
• Bristol Myers Squibb reported a quarterly earnings per share of $1.80, surpassing estimates, with a net revenue of $11.2 billion, although down 5.6% year-over-year.
• The company announced a quarterly dividend of $0.62 per share, yielding approximately 5.06%, with a dividend payout ratio of 92.88%.

J.P. Marvel Investment Advisors LLC lifted its holdings in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 4.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 165,900 shares of the biopharmaceutical company's stock after purchasing an additional 6,556 shares during the quarter. Bristol Myers Squibb accounts for approximately 1.8% of J.P. Marvel Investment Advisors LLC's portfolio, making the stock its 19th largest position. J.P. Marvel Investment Advisors LLC's holdings in Bristol Myers Squibb were worth $10,118,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Capital International Investors raised its holdings in shares of Bristol Myers Squibb by 7.5% during the 4th quarter. Capital International Investors now owns 45,866,624 shares of the biopharmaceutical company's stock valued at $2,593,940,000 after buying an additional 3,218,865 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Bristol Myers Squibb by 2.7% during the 4th quarter. Geode Capital Management LLC now owns 44,391,247 shares of the biopharmaceutical company's stock valued at $2,505,967,000 after buying an additional 1,187,231 shares in the last quarter. Norges Bank purchased a new position in shares of Bristol Myers Squibb during the 4th quarter valued at about $1,989,525,000. Ameriprise Financial Inc. raised its holdings in shares of Bristol Myers Squibb by 59.9% during the 4th quarter. Ameriprise Financial Inc. now owns 32,079,246 shares of the biopharmaceutical company's stock valued at $1,814,341,000 after buying an additional 12,011,983 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Bristol Myers Squibb by 8.6% during the 1st quarter. Bank of New York Mellon Corp now owns 26,865,073 shares of the biopharmaceutical company's stock valued at $1,638,501,000 after buying an additional 2,131,205 shares in the last quarter. Hedge funds and other institutional investors own 76.41% of the company's stock.

Bristol Myers Squibb Stock Down 1.7%

Bristol Myers Squibb stock traded down $0.78 during mid-day trading on Tuesday, hitting $46.73. The company had a trading volume of 4,517,924 shares, compared to its average volume of 13,246,403. The company has a current ratio of 1.28, a quick ratio of 1.17 and a debt-to-equity ratio of 2.65. The stock's 50 day moving average price is $47.67 and its two-hundred day moving average price is $52.53. Bristol Myers Squibb Company has a 12 month low of $44.00 and a 12 month high of $63.33. The company has a market capitalization of $95.09 billion, a PE ratio of 17.50, a price-to-earnings-growth ratio of 2.53 and a beta of 0.36.

Bristol Myers Squibb Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 3rd will be issued a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 5.31%. The ex-dividend date is Thursday, July 3rd. Bristol Myers Squibb's dividend payout ratio (DPR) is 92.88%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Cantor Fitzgerald reissued a "neutral" rating and set a $55.00 price objective on shares of Bristol Myers Squibb in a report on Tuesday, April 22nd. Jefferies Financial Group decreased their price target on Bristol Myers Squibb from $70.00 to $68.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. UBS Group decreased their price target on Bristol Myers Squibb from $60.00 to $54.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. Piper Sandler began coverage on Bristol Myers Squibb in a research note on Tuesday, April 22nd. They issued an "overweight" rating and a $65.00 price target on the stock. Finally, William Blair reaffirmed a "market perform" rating on shares of Bristol Myers Squibb in a research note on Friday, April 25th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, six have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Bristol Myers Squibb currently has a consensus rating of "Hold" and an average target price of $58.53.

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.