170,732 Shares in Bristol Myers Squibb Company (NYSE:BMY) Acquired by Zions Bancorporation National Association UT

Key Points

• Zions Bancorporation acquired a new stake in Bristol Myers Squibb, purchasing 170,732 shares, valued at approximately $10.41 million, making it the 26th largest position in their holdings.
• Several institutional investors increased their stakes in Bristol Myers Squibb, with 76.41% of the stock now owned by institutional investors and hedge funds, reflecting strong interest in the biopharmaceutical company.
• Bristol Myers Squibb declared a quarterly dividend of $0.62 per share, yielding 5.5%, although its payout ratio is at 100%, indicating that the company is distributing all of its earnings as dividends.

Zions Bancorporation National Association UT bought a new position in shares of Bristol Myers Squibb Company (NYSE:BMY - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 170,732 shares of the biopharmaceutical company's stock, valued at approximately $10,413,000. Bristol Myers Squibb accounts for approximately 0.7% of Zions Bancorporation National Association UT's investment portfolio, making the stock its 26th largest holding.

A number of other institutional investors and hedge funds also recently modified their holdings of BMY. Ameriprise Financial Inc. grew its position in shares of Bristol Myers Squibb by 59.9% during the fourth quarter. Ameriprise Financial Inc. now owns 32,079,246 shares of the biopharmaceutical company's stock worth $1,814,341,000 after acquiring an additional 12,011,983 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its position in shares of Bristol Myers Squibb by 701.2% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 12,470,106 shares of the biopharmaceutical company's stock worth $705,309,000 after acquiring an additional 10,913,708 shares during the last quarter. Northern Trust Corp grew its position in shares of Bristol Myers Squibb by 16.2% during the fourth quarter. Northern Trust Corp now owns 24,658,360 shares of the biopharmaceutical company's stock worth $1,394,677,000 after acquiring an additional 3,431,248 shares during the last quarter. Adage Capital Partners GP L.L.C. grew its position in shares of Bristol Myers Squibb by 72.9% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 7,769,227 shares of the biopharmaceutical company's stock worth $439,427,000 after acquiring an additional 3,275,061 shares during the last quarter. Finally, Capital International Investors grew its position in shares of Bristol Myers Squibb by 7.5% during the fourth quarter. Capital International Investors now owns 45,866,624 shares of the biopharmaceutical company's stock worth $2,593,940,000 after acquiring an additional 3,218,865 shares during the last quarter. 76.41% of the stock is owned by institutional investors and hedge funds.

Bristol Myers Squibb Trading Up 1.3%

BMY stock traded up $0.60 during mid-day trading on Friday, reaching $45.96. 9,987,114 shares of the stock traded hands, compared to its average volume of 13,753,402. The company has a current ratio of 1.21, a quick ratio of 1.11 and a debt-to-equity ratio of 2.54. Bristol Myers Squibb Company has a 52-week low of $42.96 and a 52-week high of $63.33. The company has a market cap of $93.55 billion, a P/E ratio of 18.53, a P/E/G ratio of 2.35 and a beta of 0.36. The stock's fifty day moving average is $47.32 and its 200-day moving average is $51.87.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The biopharmaceutical company reported $1.46 EPS for the quarter, beating 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 company had revenue of $12.27 billion during the quarter, compared to analyst estimates of $11.32 billion. During the same period in the prior year, the firm earned $2.07 earnings per share. The business's quarterly revenue was up .6% on a year-over-year basis. As a group, sell-side analysts expect that Bristol Myers Squibb Company will post 6.74 earnings per share for the current year.

Bristol Myers Squibb Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Thursday, July 3rd were paid a dividend of $0.62 per share. 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 dividend payout ratio is currently 100.00%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. William Blair restated a "market perform" rating on shares of Bristol Myers Squibb in a research report on Friday, April 25th. Piper Sandler began coverage on shares of Bristol Myers Squibb in a research report on Tuesday, April 22nd. They issued an "overweight" rating and a $65.00 target price for the company. Cantor Fitzgerald reiterated a "neutral" rating and issued a $55.00 target price on shares of Bristol Myers Squibb in a research report on Tuesday, April 22nd. Citigroup decreased their target price 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. Finally, Argus upgraded shares of Bristol Myers Squibb to a "hold" rating in a research report on Friday, April 25th. 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 given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus 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.