Bristol-Myers Squibb said on March 3, 2023 that its board of directors declared a regular quarterly dividend of $0.57 per share ($2.28 annualized). Previously, the company paid $0.57 per share.
Shares must be purchased before the ex-div date of April 6, 2023 to qualify for the dividend. Shareholders of record as of April 10, 2023 will receive the payment on May 1, 2023.
At the current share price of $68.91 / share, the stock's dividend yield is 3.31%. Looking back five years and taking a sample every week, the average dividend yield has been 3.07%, the lowest has been 2.37%, and the highest has been 3.88%. The standard deviation of yields is 0.26 (n=236).
The current dividend yield is 0.93 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.76. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.27%, demonstrating that it has increased its dividend over time.
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Analyst Price Forecast Suggests 20.59% Upside
As of March 7, 2023, the average one-year price target for Bristol-Myers Squibb is $83.10. The forecasts range from a low of $62.62 to a high of $99.75. The average price target represents an increase of 20.59% from its latest reported closing price of $68.91.
The projected annual revenue for Bristol-Myers Squibb is $47,586MM, an increase of 3.09%. The projected annual non-GAAP EPS is $8.03.
What is the Fund Sentiment?
There are 3930 funds or institutions reporting positions in Bristol-Myers Squibb. This is an increase of 116 owner(s) or 3.04% in the last quarter. Average portfolio weight of all funds dedicated to BMY is 0.60%, a decrease of 13.18%. Total shares owned by institutions decreased in the last three months by 1.32% to 1,845,325K shares. The put/call ratio of BMY is 0.74, indicating a bullish outlook.
What are large shareholders doing?
Jpmorgan Chase & holds 98,663K shares representing 4.70% ownership of the company. No change in the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 64,633K shares representing 3.08% ownership of the company. In it's prior filing, the firm reported owning 63,698K shares, representing an increase of 1.45%. The firm decreased its portfolio allocation in BMY by 5.16% over the last quarter.
Capital International Investors holds 52,717K shares representing 2.51% ownership of the company. In it's prior filing, the firm reported owning 52,396K shares, representing an increase of 0.61%. The firm decreased its portfolio allocation in BMY by 6.29% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 49,151K shares representing 2.34% ownership of the company. In it's prior filing, the firm reported owning 48,404K shares, representing an increase of 1.52%. The firm decreased its portfolio allocation in BMY by 5.32% over the last quarter.
Bank Of America holds 40,126K shares representing 1.91% ownership of the company. In it's prior filing, the firm reported owning 45,188K shares, representing a decrease of 12.61%. The firm decreased its portfolio allocation in BMY by 99.91% over the last quarter.
Bristol-Myers Squibb Background Information
(This description is provided by the company.)
Bristol Myers Squibb is a global biopharmaceutical company whose mission is to discover, develop and deliver innovative medicines that help patients prevail over serious diseases.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.