Unusual Put Option Trade in Bristol-Myers Squibb (BMY) Worth $726.85K

On March 31, 2023 at 13:15:02 ET an unusually large $726.85K block of Put contracts in Bristol-Myers Squibb (BMY) was bought, with a strike price of $70.00 / share, expiring in 294 days (on January 19, 2024). Fintel tracks all large options trades, and the premium spent on this trade was 5.95 sigmas above the mean, placing it in the 100.00 percentile of all recent large trades made in BMY options.

This trade was first picked up on Fintel's real time Unusual Option Trades tool, where unusual option trades are highlighted.

Analyst Price Forecast Suggests 21.27% Upside

As of March 30, 2023, the average one-year price target for Bristol-Myers Squibb is $82.71. The forecasts range from a low of $62.62 to a high of $99.75. The average price target represents an increase of 21.27% from its latest reported closing price of $68.20.

See our leaderboard of companies with the largest price target upside.

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 3932 funds or institutions reporting positions in Bristol-Myers Squibb. This is an increase of 114 owner(s) or 2.99% in the last quarter. Average portfolio weight of all funds dedicated to BMY is 0.59%, a decrease of 15.68%. Total shares owned by institutions decreased in the last three months by 1.50% to 1,846,584K shares. The put/call ratio of BMY is 0.73, indicating a bullish outlook.

What are Large Shareholders Doing?

Jpmorgan Chase & holds 98,663K shares representing 4.69% ownership of the company. No change in the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 64,633K shares representing 3.07% 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 Declares $0.57 Dividend

On March 3, 2023 the company declared a regular quarterly dividend of $0.57 per share ($2.28 annualized). Shareholders of record as of April 10, 2023 will receive the payment on May 1, 2023. Previously, the company paid $0.57 per share.

At the current share price of $68.20 / share, the stock's dividend yield is 3.34%. Looking back five years and taking a sample every week, the average dividend yield has been 3.08%, the lowest has been 2.54%, and the highest has been 3.88%. The standard deviation of yields is 0.26 (n=236).

The current dividend yield is 1.04 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.

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.