GKV Capital Management Co. Inc. Takes $36,000 Position in Bristol Myers Squibb Company (NYSE:BMY)

GKV Capital Management Co. Inc. acquired a new stake in shares of Bristol Myers Squibb Company (NYSE:BMY) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor acquired 590 shares of the biopharmaceutical company’s stock, valued at approximately $36,000.

Several other institutional investors have also recently modified their holdings of the company. Commonwealth Equity Services LLC grew its position in Bristol Myers Squibb by 1.1% during the 1st quarter. Commonwealth Equity Services LLC now owns 1,288,407 shares of the biopharmaceutical company’s stock worth $78,580,000 after acquiring an additional 13,959 shares during the last quarter. Polar Asset Management Partners Inc. bought a new position in Bristol Myers Squibb during the 4th quarter worth approximately $16,651,000. Avaii Wealth Management LLC grew its position in Bristol Myers Squibb by 590.9% during the 1st quarter. Avaii Wealth Management LLC now owns 78,597 shares of the biopharmaceutical company’s stock worth $4,794,000 after acquiring an additional 67,221 shares during the last quarter. Assenagon Asset Management S.A. grew its position in Bristol Myers Squibb by 1.4% during the 1st quarter. Assenagon Asset Management S.A. now owns 65,038 shares of the biopharmaceutical company’s stock worth $3,967,000 after acquiring an additional 869 shares during the last quarter. Finally, Shorepoint Capital Partners LLC grew its position in Bristol Myers Squibb by 2.2% during the 4th quarter. Shorepoint Capital Partners LLC now owns 58,426 shares of the biopharmaceutical company’s stock worth $3,305,000 after acquiring an additional 1,248 shares during the last quarter. 76.41% of the stock is currently owned by institutional investors.

Bristol Myers Squibb Stock Up 2.7%

BMY stock opened at $47.82 on Thursday. Bristol Myers Squibb Company has a 1-year low of $42.96 and a 1-year high of $63.33. The business has a fifty day moving average price of $47.23 and a 200-day moving average price of $51.66. The company has a debt-to-equity ratio of 2.54, a current ratio of 1.21 and a quick ratio of 1.11. The stock has a market capitalization of $97.33 billion, a P/E ratio of 19.28, a P/E/G ratio of 2.38 and a beta of 0.36.

Bristol Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.39. Bristol Myers Squibb had a return on equity of 80.04% and a net margin of 10.58%. The firm had revenue of $12.27 billion during the quarter, compared to analysts’ expectations of $11.32 billion. During the same quarter in the previous year, the business earned $2.07 earnings per share. The company’s revenue was up .6% on a year-over-year basis. Equities analysts forecast that Bristol Myers Squibb Company will post 6.74 earnings per share for the current fiscal year.

Bristol Myers Squibb Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Thursday, July 3rd were issued a $0.62 dividend. The ex-dividend date of this dividend was Thursday, July 3rd. This represents a $2.48 annualized dividend and a dividend yield of 5.2%. Bristol Myers Squibb’s payout ratio is presently 100.00%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on BMY. Jefferies Financial Group dropped their price objective on Bristol Myers Squibb from $70.00 to $68.00 and set a “buy” rating for the company in a report on Wednesday, April 23rd. Morgan Stanley reiterated a “hold” rating on shares of Bristol Myers Squibb in a report on Thursday, July 31st. Argus upgraded Bristol Myers Squibb to a “hold” rating in a report on Friday, April 25th. Piper Sandler began coverage on Bristol Myers Squibb in a research note on Tuesday, April 22nd. They issued an “overweight” rating and a $65.00 target price for the company. Finally, Wall Street Zen cut Bristol Myers Squibb from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 6th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Bristol Myers Squibb has an average rating of “Hold” and an average price target of $56.38.

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.