Wealth Alliance Grows Position in Bristol-Myers Squibb (NYSE:BMY)

Wealth Alliance boosted its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 13.8% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 44,503 shares of the biopharmaceutical company’s stock after purchasing an additional 5,390 shares during the period. Wealth Alliance’s holdings in Bristol-Myers Squibb were worth $1,848,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of BMY. Capital International Investors lifted its position in Bristol-Myers Squibb by 14.1% during the first quarter. Capital International Investors now owns 70,203,814 shares of the biopharmaceutical company’s stock valued at $3,807,153,000 after purchasing an additional 8,675,322 shares in the last quarter. M&G Plc bought a new stake in Bristol-Myers Squibb during the first quarter valued at about $392,608,000. Pzena Investment Management LLC raised its holdings in Bristol-Myers Squibb by 119.8% during the first quarter. Pzena Investment Management LLC now owns 12,293,913 shares of the biopharmaceutical company’s stock valued at $666,699,000 after acquiring an additional 6,701,097 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Bristol-Myers Squibb by 77.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 12,547,823 shares of the biopharmaceutical company’s stock valued at $680,469,000 after acquiring an additional 5,461,767 shares during the period. Finally, Van ECK Associates Corp raised its holdings in Bristol-Myers Squibb by 97.2% during the first quarter. Van ECK Associates Corp now owns 7,949,173 shares of the biopharmaceutical company’s stock valued at $431,084,000 after acquiring an additional 3,918,234 shares during the period. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on BMY shares. Cantor Fitzgerald reissued a “neutral” rating and set a $50.00 price target on shares of Bristol-Myers Squibb in a report on Monday. TD Cowen raised their price target on Bristol-Myers Squibb from $45.00 to $53.00 and gave the company a “hold” rating in a report on Monday, August 12th. Barclays raised their price target on Bristol-Myers Squibb from $41.00 to $42.00 and gave the company an “underweight” rating in a report on Thursday, August 22nd. Deutsche Bank Aktiengesellschaft decreased their price target on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a report on Tuesday, July 23rd. Finally, Jefferies Financial Group lifted their target price on Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $55.00.

Bristol-Myers Squibb Trading Down 1.0 %

BMY opened at $49.49 on Wednesday. The firm has a market cap of $100.32 billion, a P/E ratio of -15.96, a P/E/G ratio of 12.59 and a beta of 0.46. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $59.46. The company has a current ratio of 1.16, a quick ratio of 1.02 and a debt-to-equity ratio of 2.86. The stock has a 50-day moving average of $47.16 and a 200 day moving average of $46.46.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 EPS for the quarter, topping the consensus estimate of $1.64 by $0.43. Bristol-Myers Squibb had a positive return on equity of 12.51% and a negative net margin of 14.06%. The company had revenue of $12.20 billion during the quarter, compared to analyst estimates of $11.54 billion. During the same quarter last year, the business posted $1.75 earnings per share. The firm’s revenue was up 8.7% on a year-over-year basis. As a group, research analysts forecast that Bristol-Myers Squibb will post 0.77 EPS for the current year.

Bristol-Myers Squibb Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 4th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.40 annualized dividend and a dividend yield of 4.85%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -77.42%.

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.