Bristol Myers Squibb Company (NYSE:BMY) Shares Purchased by Resona Asset Management Co. Ltd.

Key Points

• Resona Asset Management Co. Ltd. increased its stake in Bristol Myers Squibb by 5.8%, purchasing an additional 38,040 shares, bringing its total holdings to 694,359 shares valued at approximately $42.25 million.
• Bristol Myers Squibb reported $1.46 EPS for the last quarter, exceeding the consensus estimate of $1.07, with total revenues of $12.27 billion.
• The company declared a quarterly dividend of $0.62 per share, resulting in an annualized dividend yield of 5.4%, though its payout ratio is currently at 100%.

Resona Asset Management Co. Ltd. raised its position in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 5.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 694,359 shares of the biopharmaceutical company's stock after purchasing an additional 38,040 shares during the period. Resona Asset Management Co. Ltd.'s holdings in Bristol Myers Squibb were worth $42,248,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the company. Pinney & Scofield Inc. purchased a new position in shares of Bristol Myers Squibb in the 4th quarter valued at $25,000. Park Square Financial Group LLC purchased a new position in shares of Bristol Myers Squibb in the 4th quarter valued at $26,000. Global Wealth Strategies & Associates boosted its stake in Bristol Myers Squibb by 137.5% during the 1st 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 period. Transce3nd LLC acquired a new stake in Bristol Myers Squibb during the 4th quarter worth $28,000. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Bristol Myers Squibb during the 1st quarter worth $31,000. 76.41% of the stock is owned by hedge funds and other institutional investors.

Bristol Myers Squibb Trading Up 1.3%

Shares of NYSE BMY traded up $0.64 during midday trading on Friday, reaching $48.45. 11,206,898 shares of the stock were exchanged, compared to its average volume of 12,717,643. The company has a market capitalization of $98.62 billion, a P/E ratio of 19.54, a P/E/G ratio of 2.44 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. The company has a current ratio of 1.21, a quick ratio of 1.11 and a debt-to-equity ratio of 2.54. The stock has a 50 day moving average price of $47.23 and a 200-day moving average price of $51.50.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 EPS for the quarter, topping analysts' consensus estimates of $1.07 by $0.39. Bristol Myers Squibb had a net margin of 10.58% and a return on equity of 80.04%. The business had revenue of $12.27 billion during the quarter, compared to the consensus estimate of $11.32 billion. During the same period in the previous year, the firm posted $2.07 earnings per share. The company's quarterly revenue was up .6% compared to the same quarter last year. Equities research analysts expect that Bristol Myers Squibb Company will post 6.74 earnings per share 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. Investors 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 annualized dividend and a dividend yield of 5.1%. Bristol Myers Squibb's dividend payout ratio (DPR) is currently 100.00%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on BMY shares. Jefferies Financial Group decreased their price target on shares of Bristol Myers Squibb from $70.00 to $68.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Citigroup decreased their price target on shares of Bristol Myers Squibb from $51.00 to $47.00 and set a "neutral" rating for the company in a research note on Friday, August 1st. Cantor Fitzgerald reiterated a "neutral" rating and set a $55.00 price target on shares of Bristol Myers Squibb in a research note on Tuesday, April 22nd. Daiwa Capital Markets cut shares of Bristol Myers Squibb from an "outperform" rating to a "neutral" rating and set a $42.00 target price for the company. in a research note on Tuesday, August 5th. Finally, William Blair restated a "market perform" rating on shares of Bristol Myers Squibb in a research note on Friday, April 25th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price 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.