Bristol Myers Squibb Company (NYSE:BMY) Plans Dividend Increase – $0.63 Per Share

Bristol Myers Squibb Company (NYSE:BMY) announced a quarterly dividend on Wednesday, December 10th. Investors of record on Friday, January 2nd will be paid a dividend of 0.63 per share by the biopharmaceutical company on Monday, February 2nd. This represents a c) dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date of this dividend is Friday, January 2nd. This is a 1.6% increase from Bristol Myers Squibb’s previous quarterly dividend of $0.62.

Bristol Myers Squibb has increased its dividend by an average of 0.1%annually over the last three years and has increased its dividend annually for the last 17 consecutive years. Bristol Myers Squibb has a dividend payout ratio of 40.9% indicating that its dividend is sufficiently covered by earnings. 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 Trading Up 0.0%

NYSE BMY traded up $0.00 during trading on Thursday, reaching $51.21. 1,250,988 shares of the stock traded hands, compared to its average volume of 13,873,646. Bristol Myers Squibb has a fifty-two week low of $42.52 and a fifty-two week high of $63.33. The company has a quick ratio of 1.17, a current ratio of 1.27 and a debt-to-equity ratio of 2.39. The firm has a market cap of $104.26 billion, a price-to-earnings ratio of 17.30, a price-to-earnings-growth ratio of 7.75 and a beta of 0.29. The stock’s 50-day moving average price is $46.55 and its 200 day moving average price is $46.87.

Bristol Myers Squibb (NYSE:BMY) last announced its quarterly earnings results on Thursday, October 30th. The biopharmaceutical company reported $1.63 earnings per share for the quarter, topping analysts’ consensus estimates of $1.52 by $0.11. Bristol Myers Squibb had a net margin of 12.57% and a return on equity of 76.53%. The company had revenue of $12.22 billion for the quarter, compared to analysts’ expectations of $11.75 billion. During the same period last year, the firm posted $1.80 earnings per share. The business’s quarterly revenue was up 2.8% compared to the same quarter last year. Bristol Myers Squibb has set its FY 2025 guidance at 6.400-6.600 EPS. Analysts predict that Bristol Myers Squibb will post 6.74 EPS for the current year.

Institutional Trading of Bristol Myers Squibb

Several institutional investors and hedge funds have recently bought and sold shares of the business. Norges Bank bought a new stake in Bristol Myers Squibb in the 2nd quarter valued at $1,554,154,000. Wellington Management Group LLP raised its position in shares of Bristol Myers Squibb by 297.0% in the first quarter. Wellington Management Group LLP now owns 23,728,443 shares of the biopharmaceutical company’s stock valued at $1,447,198,000 after purchasing an additional 17,750,938 shares during the period. GQG Partners LLC lifted its stake in shares of Bristol Myers Squibb by 22,647.6% during the 1st quarter. GQG Partners LLC now owns 12,023,454 shares of the biopharmaceutical company’s stock worth $733,310,000 after buying an additional 11,970,598 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Bristol Myers Squibb by 16.8% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 70,802,680 shares of the biopharmaceutical company’s stock worth $3,277,456,000 after buying an additional 10,195,775 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its stake in Bristol Myers Squibb by 428.5% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 11,311,281 shares of the biopharmaceutical company’s stock valued at $523,599,000 after buying an additional 9,171,098 shares during the last quarter. Institutional investors own 76.41% of the company’s stock.

Bristol Myers Squibb Company Profile

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.