Bristol-Myers Squibb Company (NYSE:BMY) announced a quarterly dividend on Thursday, December 7th, RTT News reports. Stockholders of record on Friday, January 5th will be paid a dividend of 0.40 per share by the biopharmaceutical company on Thursday, February 1st. This represents a $1.60 annualized dividend and a dividend yield of 2.62%. This is an increase from Bristol-Myers Squibb’s previous quarterly dividend of $0.39.
Bristol-Myers Squibb has increased its dividend by an average of 2.8% annually over the last three years and has raised its dividend annually for the last 7 consecutive years. Bristol-Myers Squibb has a dividend payout ratio of 52.2% meaning its dividend is sufficiently covered by earnings. Research analysts expect Bristol-Myers Squibb to earn $3.18 per share next year, which means the company should continue to be able to cover its $1.56 annual dividend with an expected future payout ratio of 49.1%.
Shares of Bristol-Myers Squibb (NYSE:BMY) traded down $1.05 during trading on Thursday, hitting $60.97. 4,758,600 shares of the stock traded hands, compared to its average volume of 8,437,080. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.46 and a current ratio of 1.59. Bristol-Myers Squibb has a 1-year low of $46.01 and a 1-year high of $66.10. The firm has a market cap of $101,508.14, a price-to-earnings ratio of 20.95, a P/E/G ratio of 2.35 and a beta of 1.18.
Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results on Thursday, October 26th. The biopharmaceutical company reported $0.75 earnings per share for the quarter, missing the consensus estimate of $0.77 by ($0.02). Bristol-Myers Squibb had a net margin of 20.56% and a return on equity of 32.41%. The business had revenue of $5.25 billion for the quarter, compared to analyst estimates of $5.20 billion. During the same quarter last year, the firm posted $0.77 earnings per share. Bristol-Myers Squibb’s revenue was up 6.7% on a year-over-year basis. sell-side analysts predict that Bristol-Myers Squibb will post 2.99 earnings per share for the current year.
Several brokerages have recently weighed in on BMY. Credit Suisse Group set a $58.00 target price on shares of Bristol-Myers Squibb and gave the company a “hold” rating in a research report on Wednesday, August 16th. Goldman Sachs Group reissued a “buy” rating and set a $63.00 price target on shares of Bristol-Myers Squibb in a report on Wednesday, August 9th. Cowen reissued a “hold” rating and set a $65.00 price target on shares of Bristol-Myers Squibb in a report on Tuesday, September 19th. Jefferies Group reissued a “buy” rating and set a $72.00 price target on shares of Bristol-Myers Squibb in a report on Wednesday, September 27th. Finally, Piper Jaffray Companies reissued a “hold” rating and set a $60.00 price target on shares of Bristol-Myers Squibb in a report on Friday, October 27th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and eleven have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $64.93.
In related news, EVP Sandra Leung sold 156,582 shares of the business’s stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $63.37, for a total transaction of $9,922,601.34. Following the completion of the sale, the executive vice president now directly owns 584,373 shares of the company’s stock, valued at $37,031,717.01. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.23% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. South Street Advisors LLC acquired a new position in shares of Bristol-Myers Squibb in the second quarter valued at approximately $201,000. Cheviot Value Management LLC acquired a new position in shares of Bristol-Myers Squibb in the second quarter valued at approximately $210,000. Intellectus Partners LLC boosted its holdings in shares of Bristol-Myers Squibb by 2.1% in the second quarter. Intellectus Partners LLC now owns 3,963 shares of the biopharmaceutical company’s stock valued at $221,000 after buying an additional 80 shares during the period. WINTON GROUP Ltd acquired a new position in shares of Bristol-Myers Squibb in the second quarter valued at approximately $239,000. Finally, Guardian Capital LP acquired a new position in shares of Bristol-Myers Squibb in the second quarter valued at approximately $276,000. Hedge funds and other institutional investors own 69.82% of the company’s stock.
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Bristol-Myers Squibb Company Profile
Bristol-Myers Squibb Company is engaged in the discovery, development, licensing, manufacturing, marketing, distribution and sale of biopharmaceutical products. The Company’s pharmaceutical products include chemically synthesized drugs, or small molecules, and products produced from biological processes called biologics.
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