Nuveen LLC Makes New Investment in Bristol Myers Squibb Company (NYSE:BMY)

Key Points

• Nuveen LLC acquired over 10 million shares of Bristol Myers Squibb, representing a 0.50% stake valued at around $624 million.
• Bristol Myers Squibb reported a 1.46 EPS for the most recent quarter, exceeding expectations and indicating a revenue increase of 0.6% year-over-year.
• The company's latest quarterly dividend of $0.62 reflects a 5.4% yield, with a total annual payout ratio of 100%.

Nuveen LLC bought a new position in Bristol Myers Squibb Company (NYSE:BMY - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 10,237,229 shares of the biopharmaceutical company's stock, valued at approximately $624,369,000. Nuveen LLC owned about 0.50% of Bristol Myers Squibb as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Pinney & Scofield Inc. bought a new position in shares of Bristol Myers Squibb in the fourth quarter worth approximately $25,000. Park Square Financial Group LLC bought a new position in shares of Bristol Myers Squibb in the fourth quarter worth approximately $26,000. Global Wealth Strategies & Associates grew its holdings in shares of Bristol Myers Squibb by 137.5% in the first quarter. Global Wealth Strategies & Associates now owns 475 shares of the biopharmaceutical company's stock worth $29,000 after purchasing an additional 275 shares during the last quarter. Transce3nd LLC bought a new position in shares of Bristol Myers Squibb in the fourth quarter worth approximately $28,000. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new stake in Bristol Myers Squibb in the first quarter valued at $31,000. Institutional investors own 76.41% of the company's stock.

Bristol Myers Squibb Stock Down 0.1%

Shares of BMY traded down $0.04 during trading hours on Monday, hitting $45.91. The company had a trading volume of 8,663,225 shares, compared to its average volume of 13,566,976. The firm has a fifty day moving average price of $47.26 and a 200-day moving average price of $51.72. The company has a debt-to-equity ratio of 2.54, a quick ratio of 1.11 and a current ratio of 1.21. The stock has a market capitalization of $93.45 billion, a price-to-earnings ratio of 18.51, a P/E/G ratio of 2.35 and a beta of 0.36. Bristol Myers Squibb Company has a 52-week low of $42.96 and a 52-week high of $63.33.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last posted its quarterly 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. The firm had revenue of $12.27 billion during the quarter, compared to analyst estimates of $11.32 billion. Bristol Myers Squibb had a return on equity of 80.04% and a net margin of 10.58%. Bristol Myers Squibb's quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.07 EPS. On average, equities research analysts forecast that Bristol Myers Squibb Company will post 6.74 EPS for the current fiscal year.

Bristol Myers Squibb Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Thursday, July 3rd were given a $0.62 dividend. The ex-dividend date of this dividend was Thursday, July 3rd. This represents a $2.48 dividend on an annualized basis and a yield of 5.4%. Bristol Myers Squibb's payout ratio is 100.00%.

Wall Street Analyst Weigh In

BMY has been the topic of several recent analyst reports. Daiwa Capital Markets cut shares of Bristol Myers Squibb from an "outperform" rating to a "neutral" rating and set a $42.00 price target on the stock. in a report on Tuesday, August 5th. Cantor Fitzgerald reiterated a "neutral" rating and issued a $55.00 price target on shares of Bristol Myers Squibb in a report on Tuesday, April 22nd. Argus upgraded shares of Bristol Myers Squibb to a "hold" rating in a report on Friday, April 25th. Jefferies Financial Group lowered their price objective on Bristol Myers Squibb from $70.00 to $68.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Finally, Citigroup lowered their price objective on Bristol Myers Squibb from $51.00 to $47.00 and set a "neutral" rating for the company in a research report on Friday, August 1st. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Bristol Myers Squibb presently has an average rating of "Hold" and an average target price of $56.38.

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.