Legacy Capital Group California Inc. Has $860,000 Stake in Bristol Myers Squibb Company (NYSE:BMY)

Key Points

• Legacy Capital Group California Inc. increased its holdings in Bristol Myers Squibb by 114.6%, acquiring an additional 7,528 shares, bringing its total to 14,096 shares valued at approximately $860,000.
• Bristol Myers Squibb recently reported quarterly earnings of $1.46 per share, exceeding analysts' expectations, and achieving revenue of $12.27 billion, a slight increase from the previous year.
• The company declared a quarterly dividend of $0.62, representing an annual yield of 5.4%, with a payout ratio of 100%.

Legacy Capital Group California Inc. boosted its holdings in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 114.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,096 shares of the biopharmaceutical company's stock after purchasing an additional 7,528 shares during the period. Legacy Capital Group California Inc.'s holdings in Bristol Myers Squibb were worth $860,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in BMY. Capital International Investors boosted its position in Bristol Myers Squibb by 7.5% in the fourth 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. Ameriprise Financial Inc. raised its stake in shares of Bristol Myers Squibb by 59.9% in the fourth quarter. Ameriprise Financial Inc. now owns 32,079,246 shares of the biopharmaceutical company's stock valued at $1,814,341,000 after acquiring an additional 12,011,983 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Bristol Myers Squibb by 8.6% in the 1st quarter. Bank of New York Mellon Corp now owns 26,865,073 shares of the biopharmaceutical company's stock worth $1,638,501,000 after acquiring an additional 2,131,205 shares in the last quarter. Northern Trust Corp grew its position in Bristol Myers Squibb by 16.2% during the 4th quarter. Northern Trust Corp now owns 24,658,360 shares of the biopharmaceutical company's stock worth $1,394,677,000 after acquiring an additional 3,431,248 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Bristol Myers Squibb by 16.8% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 22,271,742 shares of the biopharmaceutical company's stock valued at $1,259,690,000 after purchasing an additional 3,196,919 shares in the last quarter. 76.41% of the stock is owned by institutional investors and hedge funds.

Bristol Myers Squibb Stock Up 1.1%

BMY stock traded up $0.50 during mid-day trading on Thursday, hitting $45.32. 11,839,864 shares of the company were exchanged, compared to its average volume of 13,897,906. The company has a debt-to-equity ratio of 2.54, a quick ratio of 1.11 and a current ratio of 1.21. Bristol Myers Squibb Company has a 1-year low of $42.96 and a 1-year high of $63.33. The firm's 50 day simple moving average is $47.36 and its 200 day simple moving average is $51.98. The firm has a market cap of $92.24 billion, a P/E ratio of 18.27, a P/E/G ratio of 2.29 and a beta of 0.36.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The biopharmaceutical company reported $1.46 EPS for the quarter, topping analysts' consensus estimates of $1.07 by $0.39. The business had revenue of $12.27 billion for the quarter, compared to analyst estimates of $11.32 billion. Bristol Myers Squibb had a net margin of 10.58% and a return on equity of 80.04%. The firm's quarterly revenue was up .6% on a year-over-year basis. During the same period last year, the business posted $2.07 earnings per share. On average, sell-side analysts predict that Bristol Myers Squibb Company will post 6.74 EPS for the current fiscal year.

Bristol Myers Squibb Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Thursday, July 3rd were paid a $0.62 dividend. The ex-dividend date was Thursday, July 3rd. This represents a $2.48 annualized dividend and a yield of 5.5%. Bristol Myers Squibb's payout ratio is presently 100.00%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on BMY. Wall Street Zen downgraded Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a research report on Friday, June 6th. Daiwa America cut Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a report on Tuesday. Argus upgraded shares of Bristol Myers Squibb to a "hold" rating in a research report on Friday, April 25th. Morgan Stanley restated a "hold" rating on shares of Bristol Myers Squibb in a research report on Thursday, July 31st. Finally, UBS Group dropped their target price on shares of Bristol Myers Squibb from $60.00 to $54.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. One 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. According to data from MarketBeat, Bristol Myers Squibb has a consensus rating of "Hold" and an average price target 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.