IHT Wealth Management LLC Raises Stock Position in Bristol-Myers Squibb (NYSE:BMY)

IHT Wealth Management LLC grew its holdings in Bristol-Myers Squibb (NYSE:BMY – Get Rating) by 29.9% during the third quarter, HoldingsChannel.com reports. The fund owned 23,841 shares of the biopharmaceutical company’s stock after purchasing an additional 5,493 shares during the quarter. IHT Wealth Management LLC’s holdings in Bristol-Myers Squibb were worth $1,695,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. New Millennium Group LLC purchased a new position in shares of Bristol-Myers Squibb in the 2nd quarter valued at $31,000. Clear Investment Research LLC purchased a new position in shares of Bristol-Myers Squibb in the 3rd quarter valued at $36,000. Western Pacific Wealth Management LP raised its stake in shares of Bristol-Myers Squibb by 878.6% in the 3rd quarter. Western Pacific Wealth Management LP now owns 548 shares of the biopharmaceutical company’s stock valued at $38,000 after acquiring an additional 492 shares during the period. Heritage Wealth Management LLC purchased a new position in shares of Bristol-Myers Squibb in the 2nd quarter valued at $44,000. Finally, McClarren Financial Advisors Inc. purchased a new stake in Bristol-Myers Squibb during the 3rd quarter worth $41,000. Hedge funds and other institutional investors own 75.51% of the company’s stock.

Insider Activity at Bristol-Myers Squibb

In related news, EVP Ann Powell sold 11,183 shares of Bristol-Myers Squibb stock in a transaction dated Monday, February 6th. The shares were sold at an average price of $74.69, for a total value of $835,258.27. Following the sale, the executive vice president now directly owns 23,043 shares in the company, valued at approximately $1,721,081.67. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Bristol-Myers Squibb news, CEO Giovanni Caforio sold 240,000 shares of the business’s stock in a transaction dated Monday, February 6th. The shares were sold at an average price of $74.65, for a total transaction of $17,916,000.00. Following the sale, the chief executive officer now directly owns 236,104 shares in the company, valued at approximately $17,625,163.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Ann Powell sold 11,183 shares of the business’s stock in a transaction dated Monday, February 6th. The stock was sold at an average price of $74.69, for a total transaction of $835,258.27. Following the sale, the executive vice president now owns 23,043 shares in the company, valued at $1,721,081.67. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on BMY. Atlantic Securities lifted their price target on shares of Bristol-Myers Squibb from $88.00 to $90.00 and gave the stock an “overweight” rating in a research note on Friday, February 3rd. Cantor Fitzgerald began coverage on shares of Bristol-Myers Squibb in a research note on Tuesday, January 17th. They set an “overweight” rating and a $95.00 price target on the stock. Wells Fargo & Company lifted their price target on shares of Bristol-Myers Squibb from $70.00 to $78.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 3rd. Jefferies Financial Group began coverage on shares of Bristol-Myers Squibb in a research note on Monday, March 6th. They set a “hold” rating and a $62.00 price target on the stock. Finally, StockNews.com started coverage on shares of Bristol-Myers Squibb in a research note on Thursday. They set a “strong-buy” rating on the stock. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Bristol-Myers Squibb presently has an average rating of “Moderate Buy” and an average price target of $79.69.

Bristol-Myers Squibb Trading Down 0.6 %

NYSE BMY opened at $67.10 on Friday. Bristol-Myers Squibb has a one year low of $65.28 and a one year high of $81.43. The company has a 50-day simple moving average of $71.09 and a 200-day simple moving average of $72.88. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.14 and a current ratio of 1.25. The firm has a market capitalization of $140.83 billion, a PE ratio of 22.75, a price-to-earnings-growth ratio of 1.43 and a beta of 0.46.

Bristol-Myers Squibb (NYSE:BMY – Get Rating) last posted its quarterly earnings results on Thursday, February 2nd. The biopharmaceutical company reported $1.82 EPS for the quarter, beating the consensus estimate of $1.71 by $0.11. Bristol-Myers Squibb had a net margin of 13.71% and a return on equity of 51.60%. The business had revenue of $11.41 billion during the quarter, compared to analyst estimates of $11.20 billion. During the same period in the previous year, the business posted $1.83 EPS. The company’s quarterly revenue was down 4.8% on a year-over-year basis. On average, equities analysts forecast that Bristol-Myers Squibb will post 8.07 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 1st. Investors of record on Monday, April 10th will be given a $0.57 dividend. The ex-dividend date is Thursday, April 6th. This represents a $2.28 annualized dividend and a yield of 3.40%. Bristol-Myers Squibb’s dividend payout ratio is presently 77.29%.

Bristol-Myers Squibb Profile

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Bristol Myers Squibb Co engages in the discovery, development, licensing, manufacture, marketing, distribution, and sale of biopharmaceutical products. It offers chemically-synthesized drugs or small molecules and products produced from biological processes called biologics. The company was founded in August 1933 and is headquartered in New York, NY.