Round Hill Asset Management Increases Stock Position in Bristol Myers Squibb Company (NYSE:BMY)

Key Points

• Round Hill Asset Management increased its stake in Bristol Myers Squibb by 50% in the first quarter, owning 15,701 shares valued at approximately $958,000.
• Bristol Myers Squibb reported earnings of $1.46 per share for the last quarter, exceeding analysts' estimates, and had a revenue of $12.27 billion.
• The company's recent quarterly dividend was set at $0.62 per share, resulting in an annualized dividend yield of 5.1%.

Round Hill Asset Management grew its stake in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 50.0% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 15,701 shares of the biopharmaceutical company's stock after buying an additional 5,237 shares during the period. Round Hill Asset Management's holdings in Bristol Myers Squibb were worth $958,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Pinney & Scofield Inc. purchased a new stake in Bristol Myers Squibb during the 4th quarter worth $25,000. Park Square Financial Group LLC purchased a new stake in Bristol Myers Squibb during the 4th quarter worth $26,000. Transce3nd LLC purchased a new stake in Bristol Myers Squibb during the 4th quarter worth $28,000. Global Wealth Strategies & Associates boosted its position 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. Finally, Harel Insurance Investments & Financial Services Ltd. purchased 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.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Piper Sandler assumed coverage on shares of Bristol Myers Squibb in a research report on Tuesday, April 22nd. They set an "overweight" rating and a $65.00 price target for the company. 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 report on Friday, August 1st. Daiwa America cut shares of Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 5th. William Blair reaffirmed a "market perform" rating on shares of Bristol Myers Squibb in a research report on Friday, April 25th. Finally, Daiwa Capital Markets lowered shares of Bristol Myers Squibb from an "outperform" rating to a "neutral" rating and set a $42.00 price objective on the stock. in a report on Tuesday, August 5th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $56.38.

Bristol Myers Squibb Stock Performance

Shares of Bristol Myers Squibb stock opened at $48.45 on Friday. The firm has a market cap of $98.62 billion, a PE ratio of 19.54, a price-to-earnings-growth ratio of 2.48 and a beta of 0.36. The firm's 50-day simple moving average is $47.23 and its 200-day simple moving average is $51.45. 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.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last issued its earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 earnings per share (EPS) for the quarter, beating 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 company's revenue for the quarter was up .6% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.07 EPS. Equities analysts forecast 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. Stockholders of record on Thursday, July 3rd were paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 5.1%. The ex-dividend date was Thursday, July 3rd. Bristol Myers Squibb's dividend payout ratio is 100.00%.

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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