Townsquare Capital LLC Has $15.99 Million Position in Bristol Myers Squibb Company (NYSE:BMY)

Key Points

• Townsquare Capital LLC increased its stake in Bristol Myers Squibb by 15.3% during the first quarter, bringing its total holdings to 262,173 shares valued at approximately $15.99 million.
• Bristol Myers Squibb reported a Q2 earnings per share of $1.46, exceeding analysts' expectations of $1.07, and achieved revenues of $12.27 billion compared to the forecast of $11.32 billion.
• The company recently announced a dividend of $0.62 per share, translating to an annualized dividend yield of 5.5%, while maintaining a dividend payout ratio of 100%.

Townsquare Capital LLC lifted its stake in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 15.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 262,173 shares of the biopharmaceutical company's stock after purchasing an additional 34,874 shares during the period. Townsquare Capital LLC's holdings in Bristol Myers Squibb were worth $15,990,000 at the end of the most recent quarter.

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

Bristol Myers Squibb Price Performance

Bristol Myers Squibb stock traded down $0.04 during trading hours on Monday, hitting $45.91. 8,663,020 shares of the stock were exchanged, compared to its average volume of 13,469,660. 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 P/E ratio of 18.51, a P/E/G ratio of 2.35 and a beta of 0.36. Bristol Myers Squibb Company has a 12 month low of $42.96 and a 12 month high of $63.33. The business's 50-day moving average is $47.32 and its two-hundred day moving average is $51.82.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The biopharmaceutical company reported $1.46 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $12.27 billion for the quarter, compared to analysts' expectations of $11.32 billion. During the same period in the prior year, the firm earned $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 EPS for the current fiscal year.

Bristol Myers Squibb Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on BMY shares. Daiwa Capital Markets lowered Bristol Myers Squibb from an "outperform" rating to a "neutral" rating and set a $42.00 target price on the stock. in a research note on Tuesday, August 5th. Daiwa America downgraded Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 5th. Piper Sandler initiated coverage on Bristol Myers Squibb in a report on Tuesday, April 22nd. They set an "overweight" rating and a $65.00 price objective for the company. Wall Street Zen downgraded Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a report on Friday, June 6th. Finally, William Blair reissued a "market perform" rating on shares of Bristol Myers Squibb in a research report on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus 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.