Cornerstone Select Advisors LLC Purchases 568 Shares of Bristol Myers Squibb Company $BMY

Cornerstone Select Advisors LLC boosted its stake in shares of Bristol Myers Squibb Company (NYSE:BMY) by 2.0% during the 1st quarter, Holdings Channel reports. The firm owned 29,178 shares of the biopharmaceutical company’s stock after acquiring an additional 568 shares during the quarter. Bristol Myers Squibb comprises approximately 1.7% of Cornerstone Select Advisors LLC’s investment portfolio, making the stock its 17th largest position. Cornerstone Select Advisors LLC’s holdings in Bristol Myers Squibb were worth $1,780,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the business. Vanguard Group Inc. raised its position in Bristol Myers Squibb by 0.8% during the first quarter. Vanguard Group Inc. now owns 191,403,004 shares of the biopharmaceutical company’s stock worth $11,673,669,000 after acquiring an additional 1,458,488 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Bristol Myers Squibb by 0.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 60,606,905 shares of the biopharmaceutical company’s stock valued at $3,696,415,000 after purchasing an additional 306,430 shares during the period. Ameriprise Financial Inc. grew its holdings in shares of Bristol Myers Squibb by 59.9% in the fourth quarter. Ameriprise Financial Inc. now owns 32,079,246 shares of the biopharmaceutical company’s stock valued at $1,814,341,000 after purchasing an additional 12,011,983 shares during the period. Bank of New York Mellon Corp boosted its stake in Bristol Myers Squibb by 8.6% during the first quarter. Bank of New York Mellon Corp now owns 26,865,073 shares of the biopharmaceutical company’s stock worth $1,638,501,000 after buying an additional 2,131,205 shares during the period. Finally, Northern Trust Corp boosted its stake in Bristol Myers Squibb by 5.3% during the first quarter. Northern Trust Corp now owns 25,974,504 shares of the biopharmaceutical company’s stock worth $1,584,185,000 after buying an additional 1,316,144 shares during the period. 76.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BMY has been the subject of several recent research reports. Piper Sandler assumed coverage on shares of Bristol Myers Squibb in a research note on Tuesday, April 22nd. They issued an “overweight” rating and a $65.00 price objective for the company. Daiwa Capital Markets downgraded shares of Bristol Myers Squibb from an “outperform” rating to a “neutral” rating and set a $42.00 price objective for the company. in a research report on Tuesday, August 5th. Morgan Stanley reiterated a “hold” rating on shares of Bristol Myers Squibb in a research report on Thursday, July 31st. Daiwa America lowered shares of Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 5th. Finally, William Blair restated a “market perform” rating on shares of Bristol Myers Squibb in a research report on Friday, April 25th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $56.38.

Bristol Myers Squibb Stock Performance

Shares of Bristol Myers Squibb stock opened at $48.45 on Monday. The company has a 50 day moving average of $47.23 and a 200-day moving average of $51.39. The company has a market cap of $98.62 billion, a PE ratio of 19.54, a price-to-earnings-growth ratio of 2.48 and a beta of 0.36. Bristol Myers Squibb Company has a 1-year low of $42.96 and a 1-year high of $63.33. 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 (NYSE:BMY) last issued its earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.39. The business had revenue of $12.27 billion for the quarter, compared to analyst estimates of $11.32 billion. Bristol Myers Squibb had a net margin of 10.58% and a return on equity of 80.04%. Bristol Myers Squibb’s revenue was up .6% on a year-over-year basis. During the same period in the prior year, the firm earned $2.07 earnings per share. As a group, equities research analysts forecast that Bristol Myers Squibb Company will post 6.74 earnings per share for the current fiscal year.

Bristol Myers Squibb Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Thursday, July 3rd were given a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 5.1%. The ex-dividend date was Thursday, July 3rd. Bristol Myers Squibb’s dividend payout ratio (DPR) is 100.00%.

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.