Bristol Myers Squibb Company (NYSE:BMY) Stake Reduced by LSV Asset Management

Key Points

• LSV Asset Management reduced its stake in Bristol Myers Squibb by 2.4%, owning 8,116,473 shares after selling 202,745 shares during the first quarter.
• Bristol Myers Squibb reported earnings of $1.46 per share for the last quarter, exceeding analysts' expectations of $1.07, with a revenue of $12.27 billion.
• The company's recent quarterly dividend was $0.62 per share, yielding 5.6%, with a payout ratio of 100%.

LSV Asset Management decreased its holdings in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 2.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,116,473 shares of the biopharmaceutical company's stock after selling 202,745 shares during the quarter. Bristol Myers Squibb comprises 1.2% of LSV Asset Management's investment portfolio, making the stock its 11th largest holding. LSV Asset Management owned 0.40% of Bristol Myers Squibb worth $495,024,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Capital International Investors increased its holdings in shares of Bristol Myers Squibb by 7.5% in 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 purchasing an additional 3,218,865 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in shares of Bristol Myers Squibb by 59.9% in 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 purchasing an additional 12,011,983 shares in the last quarter. Bank of New York Mellon Corp increased 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 valued at $1,638,501,000 after purchasing an additional 2,131,205 shares in the last quarter. Northern Trust Corp grew its stake in Bristol Myers Squibb by 16.2% in the 4th quarter. Northern Trust Corp now owns 24,658,360 shares of the biopharmaceutical company's stock valued at $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 grew its stake in Bristol Myers Squibb by 16.8% in 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 acquiring an additional 3,196,919 shares during the last quarter. Hedge funds and other institutional investors own 76.41% of the company's stock.

Bristol Myers Squibb Stock Performance

Bristol Myers Squibb stock traded up $1.16 during mid-day trading on Monday, reaching $45.39. The company's stock had a trading volume of 14,656,292 shares, compared to its average volume of 13,625,376. The firm has a market cap of $92.39 billion, a price-to-earnings ratio of 18.30, a PEG ratio of 2.33 and a beta of 0.36. The business has a 50 day moving average price of $47.51 and a 200-day moving average price of $52.23. The company has a current ratio of 1.21, a quick ratio of 1.11 and a debt-to-equity ratio of 2.54. Bristol Myers Squibb Company has a twelve month low of $42.96 and a twelve month high of $63.33.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last released 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 firm 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 firm's revenue was up .6% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.07 earnings per share. 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 business 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. This represents a $2.48 dividend on an annualized basis and a yield of 5.5%. The ex-dividend date was Thursday, July 3rd. Bristol Myers Squibb's dividend payout ratio (DPR) is presently 100.00%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Argus raised shares of Bristol Myers Squibb to a "hold" rating in a research note on Friday, April 25th. Piper Sandler initiated coverage on shares of Bristol Myers Squibb in a research note on Tuesday, April 22nd. They set an "overweight" rating and a $65.00 price target on the stock. William Blair reaffirmed a "market perform" rating on shares of Bristol Myers Squibb in a research note on Friday, April 25th. Jefferies Financial Group decreased their price target on shares of 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. Finally, Wall Street Zen lowered shares of Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a report on Friday, June 6th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, six have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Bristol Myers Squibb presently has a consensus rating of "Hold" and a consensus target price of $57.33.

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.