Beverly Hills Private Wealth LLC increased its holdings in shares of Bristol-Myers Squibb (NYSE:BMY – Free Report) by 40.6% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 9,323 shares of the biopharmaceutical company’s stock after purchasing an additional 2,692 shares during the period. Beverly Hills Private Wealth LLC’s holdings in Bristol-Myers Squibb were worth $564,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of BMY. True Wealth Design LLC acquired a new position in shares of Bristol-Myers Squibb during the fourth quarter valued at about $26,000. Northwest Capital Management Inc acquired a new stake in shares of Bristol-Myers Squibb during the 2nd quarter worth approximately $26,000. Coppell Advisory Solutions Corp. bought a new stake in shares of Bristol-Myers Squibb during the fourth quarter valued at approximately $31,000. Live Oak Investment Partners acquired a new position in shares of Bristol-Myers Squibb in the fourth quarter valued at $33,000. Finally, Strengthening Families & Communities LLC lifted its position in Bristol-Myers Squibb by 90.0% in the first quarter. Strengthening Families & Communities LLC now owns 475 shares of the biopharmaceutical company’s stock worth $656,000 after purchasing an additional 225 shares during the period. Institutional investors and hedge funds own 74.98% of the company’s stock.
Bristol-Myers Squibb Trading Up 2.1 %
BMY opened at $51.60 on Thursday. The firm has a 50 day simple moving average of $55.98 and a 200 day simple moving average of $61.14. Bristol-Myers Squibb has a fifty-two week low of $49.49 and a fifty-two week high of $81.43. The company has a market cap of $104.98 billion, a price-to-earnings ratio of 13.10, a price-to-earnings-growth ratio of 1.57 and a beta of 0.38. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.18 and a quick ratio of 1.07.
Bristol-Myers Squibb Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 1st. Investors of record on Friday, October 6th were paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 4.42%. The ex-dividend date of this dividend was Thursday, October 5th. Bristol-Myers Squibb’s payout ratio is 57.87%.
Insider Buying and Selling at Bristol-Myers Squibb
In other news, EVP Ann Powell sold 17,986 shares of Bristol-Myers Squibb stock in a transaction on Thursday, August 24th. The shares were sold at an average price of $61.25, for a total transaction of $1,101,642.50. Following the transaction, the executive vice president now directly owns 27,868 shares of the company’s stock, valued at $1,706,915. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.08% of the company’s stock.
Analyst Ratings Changes
A number of equities analysts have recently issued reports on BMY shares. UBS Group restated a “neutral” rating and issued a $60.00 price objective (down previously from $70.00) on shares of Bristol-Myers Squibb in a research note on Friday, October 20th. Truist Financial restated a “buy” rating and set a $84.00 price target on shares of Bristol-Myers Squibb in a research note on Friday, October 6th. Wells Fargo & Company lowered their price objective on Bristol-Myers Squibb from $78.00 to $65.00 and set an “equal weight” rating on the stock in a research note on Friday, July 28th. TheStreet downgraded Bristol-Myers Squibb from a “b-” rating to a “c+” rating in a research report on Thursday, November 9th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Bristol-Myers Squibb in a research note on Thursday, November 9th. They set a “hold” rating and a $55.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $63.59.
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, an oral inhibitor for reduction in risk of stroke/systemic embolism in NVAF, and for the treatment of DVT/PE; Opdivo for anti-cancer indications; Pomalyst/Imnovid indicated for patients with multiple myeloma; Orencia for adult patients with active RA and psoriatic arthritis; and Sprycel for the treatment of Philadelphia chromosome-positive chronic myeloid leukemia.
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