Bristol-Myers Squibb (NYSE:BMY) Declares Quarterly Dividend of $0.54

Bristol-Myers Squibb (NYSE:BMYGet Rating) announced a quarterly dividend on Thursday, June 16th, Wall Street Journal reports. Shareholders of record on Friday, July 1st will be given a dividend of 0.54 per share by the biopharmaceutical company on Monday, August 1st. This represents a $2.16 dividend on an annualized basis and a yield of 2.97%. The ex-dividend date is Thursday, June 30th.

Bristol-Myers Squibb has increased its dividend by an average of 7.7% per year over the last three years and has raised its dividend every year for the last 16 years. Bristol-Myers Squibb has a dividend payout ratio of 26.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect Bristol-Myers Squibb to earn $8.15 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 26.5%.

BMY opened at $72.62 on Friday. The company has a market capitalization of $154.61 billion, a price-to-earnings ratio of 25.75, a price-to-earnings-growth ratio of 1.55 and a beta of 0.49. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.32 and a quick ratio of 1.23. Bristol-Myers Squibb has a 1-year low of $53.22 and a 1-year high of $78.61. The business has a 50 day moving average price of $76.07 and a two-hundred day moving average price of $69.27.

Bristol-Myers Squibb (NYSE:BMYGet Rating) last released its earnings results on Friday, April 29th. The biopharmaceutical company reported $1.96 earnings per share for the quarter, topping analysts’ consensus estimates of $1.92 by $0.04. The firm had revenue of $11.65 billion during the quarter, compared to the consensus estimate of $11.34 billion. Bristol-Myers Squibb had a return on equity of 48.37% and a net margin of 13.31%. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.74 earnings per share. Equities analysts expect that Bristol-Myers Squibb will post 7.56 EPS for the current fiscal year.

In other news, CEO Giovanni Caforio sold 30,000 shares of the company’s stock in a transaction on Monday, June 13th. The shares were sold at an average price of $74.04, for a total value of $2,221,200.00. Following the transaction, the chief executive officer now directly owns 551,104 shares of the company’s stock, valued at $40,803,740.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Sandra Leung sold 65,000 shares of the company’s stock in a transaction on Monday, June 6th. The stock was sold at an average price of $74.89, for a total transaction of $4,867,850.00. Following the completion of the transaction, the executive vice president now directly owns 308,627 shares in the company, valued at $23,113,076.03. The disclosure for this sale can be found here. Insiders sold 120,000 shares of company stock valued at $8,877,050 in the last 90 days. Corporate insiders own 0.09% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of BMY. Orion Portfolio Solutions LLC increased its position in Bristol-Myers Squibb by 10.9% during the first quarter. Orion Portfolio Solutions LLC now owns 15,046 shares of the biopharmaceutical company’s stock worth $1,099,000 after buying an additional 1,484 shares during the last quarter. Sawgrass Asset Management LLC acquired a new position in Bristol-Myers Squibb during the first quarter worth $1,296,000. Wealthfront Advisers LLC increased its position in Bristol-Myers Squibb by 68.5% during the first quarter. Wealthfront Advisers LLC now owns 201,378 shares of the biopharmaceutical company’s stock worth $14,707,000 after buying an additional 81,853 shares during the last quarter. Avalon Investment & Advisory increased its position in Bristol-Myers Squibb by 69.2% during the first quarter. Avalon Investment & Advisory now owns 679,053 shares of the biopharmaceutical company’s stock worth $49,591,000 after buying an additional 277,784 shares during the last quarter. Finally, Linscomb & Williams Inc. increased its position in Bristol-Myers Squibb by 20.1% during the first quarter. Linscomb & Williams Inc. now owns 10,759 shares of the biopharmaceutical company’s stock worth $786,000 after buying an additional 1,799 shares during the last quarter. 73.07% of the stock is currently owned by institutional investors and hedge funds.

A number of equities research analysts have recently commented on the company. StockNews.com assumed coverage on Bristol-Myers Squibb in a research report on Thursday, March 31st. They set a “strong-buy” rating for the company. BMO Capital Markets increased their price objective on Bristol-Myers Squibb from $87.00 to $92.00 in a research report on Monday, May 2nd. Truist Financial increased their price objective on Bristol-Myers Squibb from $76.00 to $81.00 in a research report on Monday, May 2nd. Morgan Stanley cut their price objective on Bristol-Myers Squibb from $66.00 to $64.00 and set an “underweight” rating for the company in a research report on Wednesday, April 6th. Finally, Wells Fargo & Company increased their price objective on Bristol-Myers Squibb from $65.00 to $70.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 17th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Bristol-Myers Squibb currently has an average rating of “Buy” and a consensus target price of $74.27.

About Bristol-Myers Squibb (Get Rating)

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.

Further Reading

Dividend History for Bristol-Myers Squibb (NYSE:BMY)

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