LS Investment Advisors LLC increased its position in Bristol-Myers Squibb Co (NYSE:BMY) by 0.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 77,327 shares of the biopharmaceutical company’s stock after acquiring an additional 624 shares during the period. LS Investment Advisors LLC’s holdings in Bristol-Myers Squibb were worth $3,507,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. 9258 Wealth Management LLC grew its holdings in shares of Bristol-Myers Squibb by 74.4% in the second quarter. 9258 Wealth Management LLC now owns 15,261 shares of the biopharmaceutical company’s stock worth $692,000 after acquiring an additional 6,508 shares during the period. Harborview Advisors LLC purchased a new position in shares of Bristol-Myers Squibb in the second quarter valued at about $277,000. Sound View Wealth Advisors Group LLC purchased a new position in shares of Bristol-Myers Squibb in the second quarter valued at about $1,159,000. Capital Advisors Inc. OK lifted its position in shares of Bristol-Myers Squibb by 114.1% in the second quarter. Capital Advisors Inc. OK now owns 20,250 shares of the biopharmaceutical company’s stock valued at $918,000 after acquiring an additional 10,793 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Bristol-Myers Squibb by 1.4% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 819,732 shares of the biopharmaceutical company’s stock valued at $37,175,000 after acquiring an additional 10,975 shares in the last quarter. 80.11% of the stock is owned by institutional investors.
Shares of NYSE:BMY traded down $0.16 during mid-day trading on Tuesday, reaching $47.95. The stock had a trading volume of 6,092,145 shares, compared to its average volume of 12,209,867. The company has a current ratio of 3.88, a quick ratio of 3.75 and a debt-to-equity ratio of 1.51. The company has a market cap of $76.19 billion, a P/E ratio of 12.05, a price-to-earnings-growth ratio of 2.31 and a beta of 0.73. Bristol-Myers Squibb Co has a 1 year low of $42.48 and a 1 year high of $63.69. The business’s 50 day moving average price is $45.59 and its 200 day moving average price is $47.35.
The company also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Friday, July 5th were given a $0.41 dividend. The ex-dividend date was Wednesday, July 3rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.42%. Bristol-Myers Squibb’s dividend payout ratio is currently 41.21%.
In related news, Director Robert J. Bertolini acquired 11,000 shares of Bristol-Myers Squibb stock in a transaction on Wednesday, July 31st. The shares were bought at an average cost of $44.72 per share, with a total value of $491,920.00. Following the completion of the purchase, the director now directly owns 11,397 shares of the company’s stock, valued at approximately $509,673.84. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.13% of the stock is currently owned by insiders.
Several equities analysts have recently commented on BMY shares. UBS Group lowered their price objective on Bristol-Myers Squibb from $55.00 to $51.00 and set a “neutral” rating on the stock in a research report on Thursday, June 13th. Atlantic Securities upgraded Bristol-Myers Squibb from a “neutral” rating to an “overweight” rating and set a $63.00 price objective on the stock in a research report on Wednesday, August 14th. JPMorgan Chase & Co. started coverage on Bristol-Myers Squibb in a research report on Friday, May 3rd. They issued an “overweight” rating and a $62.00 price objective on the stock. ValuEngine upgraded Bristol-Myers Squibb from a “strong sell” rating to a “sell” rating in a research report on Monday. Finally, Barclays upgraded Bristol-Myers Squibb from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $53.00 to $55.00 in a research report on Friday, May 3rd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $55.88.
Bristol-Myers Squibb Profile
Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. The company offers drugs in oncology, immunoscience, cardiovascular, and fibrotic diseases. The company's products include Opdivo, a biological product for anti-cancer indications; Eliquis, an oral inhibitor targeted at stroke prevention in adult patients with non-valvular atrial fibrillation, and the prevention and treatment of venous thromboembolic disorders; and Orencia, a biological product for adult patients with moderately to severely active RA and prostate-specific antigen, as well as reducing signs and symptoms in certain pediatric patients with moderately to severely active polyarticular juvenile idiopathic arthritis.
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