Wealthfront Advisers LLC increased its holdings in Bristol-Myers Squibb (NYSE:BMY – Get Rating) by 17.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 237,041 shares of the biopharmaceutical company's stock after purchasing an additional 35,663 shares during the period. Wealthfront Advisers LLC's holdings in Bristol-Myers Squibb were worth $18,252,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Capital International Investors acquired a new stake in Bristol-Myers Squibb during the first quarter valued at approximately $1,672,455,000. Norges Bank bought a new position in shares of Bristol-Myers Squibb during the fourth quarter valued at approximately $1,413,962,000. California Public Employees Retirement System grew its holdings in shares of Bristol-Myers Squibb by 59.0% during the first quarter. California Public Employees Retirement System now owns 11,771,544 shares of the biopharmaceutical company's stock valued at $859,676,000 after purchasing an additional 4,367,193 shares during the last quarter. Eaton Vance Management grew its holdings in shares of Bristol-Myers Squibb by 52.8% during the first quarter. Eaton Vance Management now owns 7,329,809 shares of the biopharmaceutical company's stock valued at $535,296,000 after purchasing an additional 2,532,851 shares during the last quarter. Finally, Pzena Investment Management LLC grew its holdings in shares of Bristol-Myers Squibb by 213.7% during the first quarter. Pzena Investment Management LLC now owns 3,625,787 shares of the biopharmaceutical company's stock valued at $264,791,000 after purchasing an additional 2,470,079 shares during the last quarter. Hedge funds and other institutional investors own 76.54% of the company's stock.

Analyst Ratings Changes

Several research firms have recently commented on BMY. Berenberg Bank lowered Bristol-Myers Squibb from a "buy" rating to a "hold" rating and lowered their target price for the company from $82.00 to $76.00 in a report on Wednesday, September 14th. The Goldman Sachs Group reaffirmed a "buy" rating and set a $85.00 target price on shares of Bristol-Myers Squibb in a report on Tuesday. JPMorgan Chase & Co. upped their target price on Bristol-Myers Squibb from $80.00 to $85.00 in a report on Thursday, July 28th. BMO Capital Markets upped their target price on Bristol-Myers Squibb from $92.00 to $94.00 and gave the company an "outperform" rating in a report on Monday, September 12th. Finally, Raymond James lowered Bristol-Myers Squibb from an "outperform" rating to a "market perform" rating in a report on Friday, June 3rd. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $77.29.

Insider Activity

Bristol-Myers Squibb Price Performance

NYSE BMY traded down $0.71 on Thursday, reaching $71.35. 321,652 shares of the stock traded hands, compared to its average volume of 10,417,390. The firm's fifty day simple moving average is $71.89 and its 200 day simple moving average is $74.08. The company has a quick ratio of 1.34, a current ratio of 1.44 and a debt-to-equity ratio of 1.14. The company has a market cap of $152.35 billion, a price-to-earnings ratio of 23.94, a P/E/G ratio of 1.49 and a beta of 0.43. Bristol-Myers Squibb has a 12 month low of $53.22 and a 12 month high of $80.59.

Bristol-Myers Squibb (NYSE:BMY – Get Rating) last issued its quarterly earnings results on Wednesday, July 27th. The biopharmaceutical company reported $1.93 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.79 by $0.14. Bristol-Myers Squibb had a return on equity of 49.31% and a net margin of 14.04%. The firm had revenue of $11.89 billion during the quarter, compared to analyst estimates of $11.50 billion. During the same period last year, the company posted $1.93 EPS. The firm's quarterly revenue was up 1.6% on a year-over-year basis. As a group, research analysts predict that Bristol-Myers Squibb will post 7.5 EPS for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 1st. Stockholders of record on Friday, October 7th will be given a dividend of $0.54 per share. The ex-dividend date of this dividend is Thursday, October 6th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.03%. Bristol-Myers Squibb's dividend payout ratio (DPR) is presently 71.76%.

Bristol-Myers Squibb Company Profile

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Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, and markets biopharmaceutical products worldwide. It offers products for hematology, oncology, cardiovascular, immunology, fibrotic, neuroscience, and covid-19 diseases. The company's products include Revlimid, an oral immunomodulatory drug for the treatment of multiple myeloma; Eliquis, an oral inhibitor for reduction in risk of stroke/systemic embolism in NVAF, and for the treatment of DVT/PE; Opdivo for anti-cancer indications; Pomalyst/Imnovid indicated for patients with multiple myeloma; and Orencia for adult patients with active RA and psoriatic arthritis.

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