Bristol-Myers Squibb (NYSE:BMY) to Issue $0.62 Quarterly Dividend

Bristol-Myers Squibb (NYSE:BMY) announced a quarterly dividend on Monday, March 3rd, RTT News reports. Shareholders of record on Friday, April 4th will be given a dividend of 0.62 per share by the biopharmaceutical company on Thursday, May 1st. This represents a $2.48 dividend on an annualized basis and a yield of 4.17%. The ex-dividend date of this dividend is Friday, April 4th.

Bristol-Myers Squibb has increased its dividend by an average of 6.4% per year over the last three years and has raised its dividend annually for the last 17 consecutive years. Bristol-Myers Squibb has a payout ratio of 40.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Bristol-Myers Squibb to earn $6.09 per share next year, which means the company should continue to be able to cover its $2.48 annual dividend with an expected future payout ratio of 40.7%.

Bristol-Myers Squibb Stock Performance

NYSE BMY opened at $59.53 on Wednesday. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.25 and a quick ratio of 1.15. Bristol-Myers Squibb has a 1-year low of $39.35 and a 1-year high of $63.33. The firm has a market capitalization of $121.13 billion, a P/E ratio of -13.47, a P/E/G ratio of 2.07 and a beta of 0.43. The business’s 50-day simple moving average is $58.69 and its 200-day simple moving average is $56.52.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings data on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.47 by $0.20. Bristol-Myers Squibb had a negative net margin of 18.53% and a positive return on equity of 13.93%. Equities analysts predict that Bristol-Myers Squibb will post 6.74 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Truist Financial boosted their price objective on Bristol-Myers Squibb from $62.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Cantor Fitzgerald raised their price target on shares of Bristol-Myers Squibb from $50.00 to $55.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Jefferies Financial Group upgraded Bristol-Myers Squibb from a “hold” rating to a “buy” rating and raised their target price for the company from $63.00 to $70.00 in a research note on Monday, December 16th. Citigroup boosted their price target on Bristol-Myers Squibb from $60.00 to $65.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 28th. Finally, Bank of America restated a “neutral” rating and set a $63.00 price objective on shares of Bristol-Myers Squibb in a research note on Tuesday, December 10th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, four have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $57.86.

Insiders Place Their Bets

In other Bristol-Myers Squibb news, EVP Samit Hirawat acquired 1,823 shares of the stock in a transaction that occurred on Friday, February 14th. The stock was acquired at an average price of $54.84 per share, with a total value of $99,973.32. Following the transaction, the executive vice president now directly owns 63,932 shares in the company, valued at approximately $3,506,030.88. This represents a 2.94 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.09% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Bristol-Myers Squibb

An institutional investor recently raised its position in Bristol-Myers Squibb stock. Brighton Jones LLC increased its stake in Bristol-Myers Squibb (NYSE:BMY) by 33.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,728 shares of the biopharmaceutical company’s stock after purchasing an additional 4,935 shares during the period. Brighton Jones LLC’s holdings in Bristol-Myers Squibb were worth $1,116,000 at the end of the most recent reporting period. 76.41% of the stock is owned by institutional investors and hedge funds.

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.