Ballentine Partners LLC Purchases 3,399 Shares of Bristol-Myers Squibb (NYSE:BMY)

Ballentine Partners LLC increased its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 9.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 39,045 shares of the biopharmaceutical company’s stock after buying an additional 3,399 shares during the quarter. Ballentine Partners LLC’s holdings in Bristol-Myers Squibb were worth $2,020,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. ESL Trust Services LLC bought a new position in shares of Bristol-Myers Squibb during the 1st quarter valued at about $27,000. LGT Financial Advisors LLC raised its holdings in Bristol-Myers Squibb by 42.7% during the 2nd quarter. LGT Financial Advisors LLC now owns 759 shares of the biopharmaceutical company’s stock worth $32,000 after buying an additional 227 shares during the period. ORG Wealth Partners LLC bought a new position in Bristol-Myers Squibb in the third quarter valued at approximately $34,000. MFA Wealth Advisors LLC acquired a new position in shares of Bristol-Myers Squibb in the second quarter valued at approximately $39,000. Finally, Beach Investment Counsel Inc. PA bought a new stake in shares of Bristol-Myers Squibb during the second quarter worth $42,000. 76.41% of the stock is owned by institutional investors and hedge funds.

Bristol-Myers Squibb Stock Down 1.9 %

BMY stock opened at $51.92 on Friday. Bristol-Myers Squibb has a 1-year low of $39.35 and a 1-year high of $55.29. The business’s 50 day simple moving average is $50.70 and its 200 day simple moving average is $46.44. 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 firm has a market capitalization of $105.24 billion, a PE ratio of -16.75, a PEG ratio of 13.75 and a beta of 0.46.

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

Bristol-Myers Squibb Dividend Announcement

The business also recently disclosed 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 yield of 4.62%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -77.42%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on BMY. Jefferies Financial Group upped their target price on shares of Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a “hold” rating in a research note on Wednesday, August 28th. UBS Group increased their price objective on Bristol-Myers Squibb from $50.00 to $54.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. BMO Capital Markets restated a “market perform” rating and issued a $48.00 target price on shares of Bristol-Myers Squibb in a research note on Monday, September 23rd. Cantor Fitzgerald reiterated a “neutral” rating and issued a $50.00 price objective on shares of Bristol-Myers Squibb in a report on Friday, October 18th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on shares of Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating for the company in a report on Tuesday, July 23rd. Two analysts have rated the stock with a sell rating, fifteen have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Bristol-Myers Squibb presently has an average rating of “Hold” and an average target price of $53.31.

Bristol-Myers Squibb 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.