Bristol-Myers Squibb (NYSE:BMY) to Issue Quarterly Dividend of $0.57

Bristol-Myers Squibb (NYSE:BMY – Get Rating) declared a quarterly dividend on Thursday, December 8th, RTT News reports. Shareholders of record on Friday, January 6th will be given a dividend of 0.57 per share by the biopharmaceutical company on Wednesday, February 1st. This represents a $2.28 annualized dividend and a yield of 2.85%. This is a positive change from Bristol-Myers Squibb’s previous quarterly dividend of $0.54.

Bristol-Myers Squibb has raised its dividend payment by an average of 7.7% per year over the last three years and has raised its dividend every year for the last 15 years. Bristol-Myers Squibb has a payout ratio of 27.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Bristol-Myers Squibb to earn $7.90 per share next year, which means the company should continue to be able to cover its $2.16 annual dividend with an expected future payout ratio of 27.3%.

Bristol-Myers Squibb Trading Down 0.1 %

NYSE:BMY opened at $79.88 on Friday. The business’s 50-day moving average is $75.71 and its two-hundred day moving average is $74.35. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.42 and a quick ratio of 1.31. Bristol-Myers Squibb has a 12 month low of $56.11 and a 12 month high of $81.43. The firm has a market capitalization of $169.84 billion, a PE ratio of 26.02, a price-to-earnings-growth ratio of 1.89 and a beta of 0.40.

Bristol-Myers Squibb (NYSE:BMY – Get Rating) last released its quarterly earnings data on Tuesday, October 25th. The biopharmaceutical company reported $1.99 EPS for the quarter, beating the consensus estimate of $1.83 by $0.16. Bristol-Myers Squibb had a return on equity of 50.30% and a net margin of 14.29%. The company had revenue of $11.22 billion for the quarter, compared to analyst estimates of $11.18 billion. During the same period last year, the company posted $2.00 earnings per share. The firm’s revenue was down 3.5% compared to the same quarter last year. Research analysts predict that Bristol-Myers Squibb will post 7.6 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Ann Powell sold 16,250 shares of Bristol-Myers Squibb stock in a transaction dated Wednesday, November 9th. The stock was sold at an average price of $80.45, for a total value of $1,307,312.50. Following the completion of the transaction, the executive vice president now directly owns 34,226 shares in the company, valued at $2,753,481.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Bristol-Myers Squibb news, EVP Ann Powell sold 16,250 shares of Bristol-Myers Squibb stock in a transaction that occurred on Wednesday, November 9th. The stock was sold at an average price of $80.45, for a total value of $1,307,312.50. Following the completion of the transaction, the executive vice president now directly owns 34,226 shares in the company, valued at $2,753,481.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Rupert Vessey sold 45,910 shares of Bristol-Myers Squibb stock in a transaction that occurred on Monday, November 7th. The shares were sold at an average price of $78.88, for a total value of $3,621,380.80. Following the completion of the transaction, the executive vice president now owns 57,079 shares of the company’s stock, valued at $4,502,391.52. The disclosure for this sale can be found here. Over the last three months, insiders sold 296,111 shares of company stock worth $21,582,900. Corporate insiders own 0.09% of the company’s stock.

Institutional Investors Weigh In On Bristol-Myers Squibb

Hedge funds have recently made changes to their positions in the business. Alpha Paradigm Partners LLC bought a new stake in shares of Bristol-Myers Squibb during the third quarter valued at approximately $85,000. Covestor Ltd raised its holdings in shares of Bristol-Myers Squibb by 111.5% during the first quarter. Covestor Ltd now owns 2,052 shares of the biopharmaceutical company’s stock valued at $150,000 after buying an additional 1,082 shares during the last quarter. Penserra Capital Management LLC raised its holdings in shares of Bristol-Myers Squibb by 319.9% during the first quarter. Penserra Capital Management LLC now owns 2,469 shares of the biopharmaceutical company’s stock valued at $179,000 after buying an additional 1,881 shares during the last quarter. Certified Advisory Corp bought a new stake in shares of Bristol-Myers Squibb during the first quarter valued at approximately $203,000. Finally, 1832 Asset Management L.P. raised its holdings in shares of Bristol-Myers Squibb by 1,062.5% during the first quarter. 1832 Asset Management L.P. now owns 3,720 shares of the biopharmaceutical company’s stock valued at $269,000 after buying an additional 3,400 shares during the last quarter. Institutional investors own 76.54% of the company’s stock.

Wall Street Analysts Forecast Growth

BMY has been the topic of several research reports. Credit Suisse Group began coverage on Bristol-Myers Squibb in a research report on Thursday, November 17th. They issued a “neutral” rating and a $78.00 price objective on the stock. Guggenheim downgraded Bristol-Myers Squibb from a “buy” rating to a “neutral” rating in a research note on Monday, October 10th. StockNews.com began coverage on Bristol-Myers Squibb in a research note on Wednesday, October 12th. They set a “strong-buy” rating for the company. The Goldman Sachs Group restated a “buy” rating and set a $85.00 target price on shares of Bristol-Myers Squibb in a research note on Tuesday, September 27th. Finally, Barclays lowered their target price on Bristol-Myers Squibb from $69.00 to $66.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 12th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $79.00.

About Bristol-Myers Squibb

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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.