Bristol-Myers Squibb Company (BMY) To Go Ex-Dividend on October 5th
Bristol-Myers Squibb Company (NYSE:BMY) declared 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 2.43%. The ex-dividend date is Thursday, October 5th.
Bristol-Myers Squibb has raised its dividend by an average of 2.8% annually over the last three years and has increased its dividend annually for the last 7 consecutive years. Bristol-Myers Squibb has a dividend payout ratio of 52.3% meaning its dividend is sufficiently covered by earnings. Analysts expect Bristol-Myers Squibb to earn $3.13 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 49.8%.
Shares of Bristol-Myers Squibb (BMY) opened at 64.29 on Wednesday. The stock has a market capitalization of $105.43 billion, a price-to-earnings ratio of 23.48 and a beta of 1.19. Bristol-Myers Squibb has a 52 week low of $46.01 and a 52 week high of $64.79. The firm’s 50-day moving average is $60.96 and its 200-day moving average is $56.48.
Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly 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. The company had revenue of $5.14 billion during the quarter, compared to analyst estimates of $5.09 billion. Bristol-Myers Squibb had a net margin of 22.66% and a return on equity of 32.33%. Bristol-Myers Squibb’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same period last year, the firm posted $0.69 EPS. Analysts forecast that Bristol-Myers Squibb will post $2.98 earnings per share for the current fiscal year.
In other news, SVP Joseph C. Caldarella sold 9,340 shares of Bristol-Myers Squibb stock in a transaction dated Wednesday, September 6th. The stock was 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 in the company, valued at approximately $2,777,820. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Theodore R. Samuels II acquired 6,000 shares of the firm’s stock in a transaction dated Wednesday, August 2nd. The stock was bought at an average price of $55.94 per share, with a total value of $335,640.00. Following the purchase, the director now directly owns 18,000 shares in the company, valued at approximately $1,006,920. The disclosure for this purchase can be found here. 0.23% of the stock is currently owned by company insiders.
A number of large investors have recently modified their holdings of the stock. UBS Asset Management Americas Inc. lifted its position in shares of Bristol-Myers Squibb by 10.0% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 4,791,226 shares of the biopharmaceutical company’s stock worth $266,967,000 after buying an additional 434,072 shares during the last quarter. Van ECK Associates Corp boosted its holdings in shares of Bristol-Myers Squibb by 3.9% in the 2nd quarter. Van ECK Associates Corp now owns 785,824 shares of the biopharmaceutical company’s stock valued at $43,786,000 after buying an additional 29,369 shares in the last quarter. Beaumont Financial Partners LLC boosted its holdings in shares of Bristol-Myers Squibb by 50.5% in the 2nd quarter. Beaumont Financial Partners LLC now owns 11,231 shares of the biopharmaceutical company’s stock valued at $626,000 after buying an additional 3,769 shares in the last quarter. D.A. Davidson & CO. boosted its holdings in shares of Bristol-Myers Squibb by 0.6% in the 2nd quarter. D.A. Davidson & CO. now owns 189,479 shares of the biopharmaceutical company’s stock valued at $10,557,000 after buying an additional 1,092 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of Bristol-Myers Squibb by 3.9% in the 2nd quarter. Northern Trust Corp now owns 24,041,862 shares of the biopharmaceutical company’s stock valued at $1,339,612,000 after buying an additional 910,496 shares in the last quarter. 68.88% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts have recently commented on BMY shares. BidaskClub upgraded Bristol-Myers Squibb from a “hold” rating to a “buy” rating in a research note on Tuesday, June 27th. Jefferies Group LLC restated a “buy” rating and issued a $63.00 price objective on shares of Bristol-Myers Squibb in a research report on Wednesday, July 12th. Vetr cut shares of Bristol-Myers Squibb from a “strong-buy” rating to a “buy” rating and set a $61.66 target price for the company. in a research note on Tuesday, July 25th. Goldman Sachs Group, Inc. (The) restated a “buy” rating and set a $63.00 price target on shares of Bristol-Myers Squibb in a research report on Wednesday, August 9th. Finally, Piper Jaffray Companies set a $60.00 price objective on shares of Bristol-Myers Squibb and gave the company a “hold” rating in a report on Thursday, July 27th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and nine have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $62.17.
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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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