Mackenzie Financial Corp Buys 314,810 Shares of Bristol Myers Squibb Company (NYSE:BMY)

Key Points

• Mackenzie Financial Corp increased its stake in Bristol Myers Squibb by 53.7% in the first quarter, acquiring an additional 314,810 shares, bringing their total holdings to approximately $54.9 million.
• As of the latest reporting period, institutional investors own 76.41% of Bristol Myers Squibb's stock, reflecting strong support from large financial entities.
• Bristol Myers Squibb recently announced a quarterly dividend of $0.62 per share, with a projected dividend yield of 5.22% for investors.

Mackenzie Financial Corp lifted its stake in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 53.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 900,576 shares of the biopharmaceutical company's stock after acquiring an additional 314,810 shares during the quarter. Mackenzie Financial Corp's holdings in Bristol Myers Squibb were worth $54,926,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Thoroughbred Financial Services LLC raised its holdings in Bristol Myers Squibb by 1.1% during the 4th quarter. Thoroughbred Financial Services LLC now owns 17,763 shares of the biopharmaceutical company's stock valued at $1,004,000 after buying an additional 190 shares during the period. Marcum Wealth LLC grew its position in shares of Bristol Myers Squibb by 1.0% during the 1st quarter. Marcum Wealth LLC now owns 19,296 shares of the biopharmaceutical company's stock worth $1,177,000 after buying an additional 193 shares in the last quarter. Beacon Investment Advisory Services Inc. grew its position in shares of Bristol Myers Squibb by 2.7% during the 1st quarter. Beacon Investment Advisory Services Inc. now owns 8,063 shares of the biopharmaceutical company's stock worth $492,000 after buying an additional 212 shares in the last quarter. Nemes Rush Group LLC boosted its position in Bristol Myers Squibb by 0.8% during the fourth quarter. Nemes Rush Group LLC now owns 27,027 shares of the biopharmaceutical company's stock valued at $1,529,000 after purchasing an additional 221 shares in the last quarter. Finally, 1858 Wealth Management LLC boosted its position 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 purchasing an additional 221 shares in the last quarter. 76.41% of the stock is currently owned by institutional investors.

Bristol Myers Squibb Stock Performance

Shares of NYSE:BMY opened at $47.52 on Tuesday. The company has a debt-to-equity ratio of 2.65, a current ratio of 1.28 and a quick ratio of 1.17. The business's 50 day moving average price is $47.67 and its 200-day moving average price is $52.53. The firm has a market capitalization of $96.71 billion, a PE ratio of 17.80, a P/E/G ratio of 2.53 and a beta of 0.36. Bristol Myers Squibb Company has a 1 year low of $44.00 and a 1 year high of $63.33.

Bristol Myers Squibb Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 3rd will be paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 5.22%. The ex-dividend date of this dividend is Thursday, July 3rd. Bristol Myers Squibb's dividend payout ratio is presently 92.88%.

Analyst Ratings Changes

BMY has been the subject of a number of research analyst reports. Morgan Stanley decreased their price target on Bristol Myers Squibb from $36.00 to $34.00 and set an "underweight" rating for the company in a research note on Thursday, July 10th. Argus upgraded Bristol Myers Squibb to a "hold" rating in a research report on Friday, April 25th. William Blair reiterated a "market perform" rating on shares of Bristol Myers Squibb in a research report on Friday, April 25th. Jefferies Financial Group dropped their price objective on Bristol Myers Squibb from $70.00 to $68.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Finally, The Goldman Sachs Group reissued a "neutral" rating and issued a $55.00 price objective (down from $67.00) on shares of Bristol Myers Squibb in a report on Tuesday, April 8th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $58.53.

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.

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