Bristol-Myers Squibb (NYSE:BMY) Shares Bought by Lake Street Advisors Group LLC

Lake Street Advisors Group LLC grew its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 3.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,346 shares of the biopharmaceutical company’s stock after acquiring an additional 490 shares during the period. Lake Street Advisors Group LLC’s holdings in Bristol-Myers Squibb were worth $917,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Bank Julius Baer & Co. Ltd Zurich lifted its position in shares of Bristol-Myers Squibb by 86,002.1% during the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 659,143,253 shares of the biopharmaceutical company’s stock valued at $42,152,211,000 after acquiring an additional 658,377,716 shares during the period. BlackRock Inc. lifted its position in shares of Bristol-Myers Squibb by 1.7% during the 1st quarter. BlackRock Inc. now owns 175,584,734 shares of the biopharmaceutical company’s stock valued at $12,169,778,000 after acquiring an additional 2,856,746 shares during the period. Ameriprise Financial Inc. lifted its position in shares of Bristol-Myers Squibb by 10.3% during the 1st quarter. Ameriprise Financial Inc. now owns 26,084,266 shares of the biopharmaceutical company’s stock valued at $1,807,487,000 after acquiring an additional 2,439,814 shares during the period. Norges Bank acquired a new position in shares of Bristol-Myers Squibb during the 4th quarter worth approximately $1,873,696,000. Finally, Moneta Group Investment Advisors LLC raised its position in shares of Bristol-Myers Squibb by 114,228.7% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 21,469,785 shares of the biopharmaceutical company’s stock worth $1,544,751,000 after purchasing an additional 21,451,006 shares during the last quarter. 74.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Ann Powell sold 17,986 shares of the company’s 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 completion of the sale, the executive vice president now directly owns 27,868 shares of the company’s stock, valued at approximately $1,706,915. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.09% of the stock is owned by corporate insiders.

Bristol-Myers Squibb Price Performance

Shares of NYSE BMY remained flat at $50.84 during trading on Friday. 10,229,732 shares of the stock traded hands, compared to its average volume of 9,662,347. The stock has a 50-day moving average of $55.60 and a 200-day moving average of $60.94. 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 has a one year low of $49.49 and a one year high of $81.43. The company has a market cap of $103.45 billion, a price-to-earnings ratio of 12.90, a P/E/G ratio of 1.62 and a beta of 0.38.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings results on Thursday, October 26th. The biopharmaceutical company reported $2.00 earnings per share for the quarter, topping analysts’ consensus estimates of $1.76 by $0.24. Bristol-Myers Squibb had a net margin of 18.44% and a return on equity of 51.59%. The firm had revenue of $10.97 billion during the quarter, compared to analysts’ expectations of $10.96 billion. During the same period in the prior year, the company earned $1.99 EPS. The firm’s revenue was down 2.2% on a year-over-year basis. Research analysts predict that Bristol-Myers Squibb will post 7.56 EPS for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 1st. Investors of record on Friday, October 6th were given a dividend of $0.57 per share. The ex-dividend date was Thursday, October 5th. This represents a $2.28 dividend on an annualized basis and a yield of 4.48%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is 57.87%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on BMY. HSBC upgraded Bristol-Myers Squibb from a “reduce” rating to a “hold” rating and cut their price objective for the stock from $55.00 to $53.00 in a research report on Friday, October 27th. Morgan Stanley cut their price objective on Bristol-Myers Squibb from $56.00 to $50.00 and set an “underweight” rating for the company in a research report on Friday, October 27th. William Blair downgraded Bristol-Myers Squibb from an “outperform” rating to a “market perform” rating in a research report on Friday, October 27th. StockNews.com upgraded Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Friday, October 27th. Finally, TD Cowen cut their price target on Bristol-Myers Squibb from $80.00 to $66.00 and set a “market perform” rating for the company in a report on Friday, September 15th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target 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.