Bristol-Myers Squibb Company Announces Quarterly Dividend of $0.39 (BMY)
Bristol-Myers Squibb Company (NYSE:BMY) announced a quarterly dividend on Wednesday, September 13th, RTT News reports. Investors of record on Friday, October 6th will be paid a dividend of 0.39 per share by the biopharmaceutical company on Wednesday, November 1st. This represents a $1.56 dividend on an annualized basis and a yield of 2.50%.
Bristol-Myers Squibb has increased its dividend by an average of 2.8% per year over the last three years and has raised its dividend annually for the last 7 consecutive years. Bristol-Myers Squibb has a payout ratio of 52.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Bristol-Myers Squibb to earn $3.12 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 50.0%.
Shares of Bristol-Myers Squibb (NYSE:BMY) opened at 62.48 on Thursday. Bristol-Myers Squibb has a 12 month low of $46.01 and a 12 month high of $63.47. The company’s 50-day moving average is $57.94 and its 200-day moving average is $55.81. The stock has a market capitalization of $102.46 billion, a PE ratio of 22.82 and a beta of 1.18.
Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Thursday, July 27th. The biopharmaceutical company reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.01. Bristol-Myers Squibb had a net margin of 22.66% and a return on equity of 32.33%. The company had revenue of $5.14 billion during the quarter, compared to the consensus estimate of $5.09 billion. During the same quarter in the prior year, the firm earned $0.69 EPS. The company’s revenue was up 5.6% compared to the same quarter last year. Equities research analysts expect that Bristol-Myers Squibb will post $2.98 earnings per share for the current fiscal year.
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A number of equities research analysts have issued reports on BMY shares. Jefferies Group LLC reiterated a “buy” rating and issued a $66.00 target price on shares of Bristol-Myers Squibb in a research report on Monday. Vetr upgraded shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating and set a $62.23 target price for the company in a research report on Wednesday, July 12th. Hilliard Lyons downgraded shares of Bristol-Myers Squibb from a “long-term buy” rating to a “neutral” rating and set a $65.00 target price for the company. in a research report on Tuesday. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating and issued a $63.00 target price on shares of Bristol-Myers Squibb in a research report on Wednesday, August 9th. Finally, BMO Capital Markets reiterated an “underperform” rating and issued a $47.00 target price (down previously from $51.00) on shares of Bristol-Myers Squibb in a research report on Wednesday, July 26th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and nine have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $62.31.
In other news, SVP Joseph C. Caldarella sold 9,340 shares of the stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $60.00, for a total value of $560,400.00. Following the completion of the transaction, the senior vice president now owns 46,297 shares of the company’s stock, valued at $2,777,820. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Theodore R. Samuels II bought 6,000 shares of the company’s stock in a transaction dated Wednesday, August 2nd. The stock was bought at an average cost of $55.94 per share, with a total value of $335,640.00. Following the acquisition, the director now directly owns 18,000 shares of the company’s stock, valued at approximately $1,006,920. The disclosure for this purchase can be found here. 0.23% of the stock is currently owned by corporate insiders.
Several hedge funds have recently bought and sold shares of BMY. Renaissance Technologies LLC lifted its holdings in shares of Bristol-Myers Squibb by 108.5% in the second quarter. Renaissance Technologies LLC now owns 13,488,200 shares of the biopharmaceutical company’s stock worth $751,563,000 after acquiring an additional 7,020,200 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Bristol-Myers Squibb by 2,990.5% in the second quarter. Janus Henderson Group PLC now owns 3,634,128 shares of the biopharmaceutical company’s stock worth $202,494,000 after acquiring an additional 3,516,536 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Bristol-Myers Squibb by 42,071.5% in the second quarter. Arrowstreet Capital Limited Partnership now owns 3,331,549 shares of the biopharmaceutical company’s stock worth $185,634,000 after acquiring an additional 3,323,649 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Bristol-Myers Squibb by 3.9% in the second quarter. Northern Trust Corp now owns 24,041,862 shares of the biopharmaceutical company’s stock worth $1,339,612,000 after acquiring an additional 910,496 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Bristol-Myers Squibb by 28.4% in the second quarter. Dimensional Fund Advisors LP now owns 3,747,541 shares of the biopharmaceutical company’s stock worth $208,815,000 after acquiring an additional 827,937 shares during the last quarter. 68.80% of the stock is owned by hedge funds and other institutional investors.
About Bristol-Myers Squibb
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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