Vestmark Advisory Solutions Inc. Boosts Stake in Bristol Myers Squibb Company (NYSE:BMY)

Key Points

• Vestmark Advisory Solutions Inc. increased its stake in Bristol Myers Squibb by 84.9%, owning 13,771 shares valued at approximately $840,000 at the end of the most recent quarter.
• Other institutional investors also adjusted their positions, with GQG Partners LLC increasing its stake by an astounding 22,647.6% and now holding over 12 million shares valued at around $733.31 million.
• Bristol Myers Squibb reported earnings of $1.46 per share, surpassing analysts' expectations, and declared a quarterly dividend of $0.62 with a yield of 5.1%.

Vestmark Advisory Solutions Inc. grew its stake in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 84.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,771 shares of the biopharmaceutical company's stock after acquiring an additional 6,324 shares during the quarter. Vestmark Advisory Solutions Inc.'s holdings in Bristol Myers Squibb were worth $840,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. William B. Walkup & Associates Inc. raised its holdings in Bristol Myers Squibb by 7.7% in the first quarter. William B. Walkup & Associates Inc. now owns 4,936 shares of the biopharmaceutical company's stock worth $301,000 after purchasing an additional 355 shares in the last quarter. GQG Partners LLC raised its stake in shares of Bristol Myers Squibb by 22,647.6% during the 1st quarter. GQG Partners LLC now owns 12,023,454 shares of the biopharmaceutical company's stock worth $733,310,000 after acquiring an additional 11,970,598 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. lifted its position in Bristol Myers Squibb by 6.8% during the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 62,197 shares of the biopharmaceutical company's stock valued at $3,793,000 after acquiring an additional 3,944 shares during the last quarter. S Bank Fund Management Ltd acquired a new stake in Bristol Myers Squibb in the first quarter valued at approximately $6,556,000. Finally, National Pension Service grew its holdings in Bristol Myers Squibb by 5.0% in the first quarter. National Pension Service now owns 4,903,014 shares of the biopharmaceutical company's stock worth $299,035,000 after purchasing an additional 234,190 shares during the last quarter. 76.41% of the stock is owned by institutional investors.

Bristol Myers Squibb Trading Up 1.3%

Shares of Bristol Myers Squibb stock opened at $48.45 on Friday. Bristol Myers Squibb Company has a fifty-two week low of $42.96 and a fifty-two week high of $63.33. 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 company has a market cap of $98.62 billion, a P/E ratio of 19.54, a price-to-earnings-growth ratio of 2.48 and a beta of 0.36. The firm has a 50-day simple moving average of $47.23 and a two-hundred day simple moving average of $51.45.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 earnings per share for the quarter, topping analysts' consensus estimates of $1.07 by $0.39. Bristol Myers Squibb had a return on equity of 80.04% and a net margin of 10.58%. The company had revenue of $12.27 billion during the quarter, compared to analysts' expectations of $11.32 billion. During the same quarter in the prior year, the firm posted $2.07 EPS. Bristol Myers Squibb's quarterly revenue was up .6% compared to the same quarter last year. As a group, equities analysts predict that Bristol Myers Squibb Company will post 6.74 earnings per share 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. Investors of record on Thursday, July 3rd were issued a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 5.1%. The ex-dividend date of this dividend was Thursday, July 3rd. Bristol Myers Squibb's payout ratio is presently 100.00%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on BMY. Jefferies Financial Group decreased their price objective on Bristol Myers Squibb from $70.00 to $68.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. William Blair reissued a "market perform" rating on shares of Bristol Myers Squibb in a report on Friday, April 25th. Citigroup dropped their price target on Bristol Myers Squibb from $51.00 to $47.00 and set a "neutral" rating on the stock in a research note on Friday, August 1st. Piper Sandler initiated coverage on shares of Bristol Myers Squibb in a research report on Tuesday, April 22nd. They issued an "overweight" rating and a $65.00 price objective for the company. Finally, Daiwa America cut shares of Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 5th. One 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 given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target 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.

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