WFA of San Diego LLC Makes New $76,000 Investment in Bristol-Myers Squibb (NYSE:BMY)

WFA of San Diego LLC acquired a new position in shares of Bristol-Myers Squibb (NYSE:BMY) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 1,188 shares of the biopharmaceutical company’s stock, valued at approximately $76,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Dakota Wealth Management purchased a new stake in shares of Bristol-Myers Squibb in the first quarter valued at about $332,000. Covestor Ltd boosted its holdings in shares of Bristol-Myers Squibb by 111.5% in the first quarter. Covestor Ltd now owns 2,052 shares of the biopharmaceutical company’s stock valued at $150,000 after acquiring an additional 1,082 shares in the last quarter. NewEdge Advisors LLC boosted its holdings in shares of Bristol-Myers Squibb by 53.2% in the first quarter. NewEdge Advisors LLC now owns 165,336 shares of the biopharmaceutical company’s stock valued at $12,075,000 after acquiring an additional 57,444 shares in the last quarter. Ergoteles LLC purchased a new stake in shares of Bristol-Myers Squibb in the first quarter valued at about $1,997,000. Finally, Mackenzie Financial Corp boosted its holdings in shares of Bristol-Myers Squibb by 25.1% in the first quarter. Mackenzie Financial Corp now owns 338,563 shares of the biopharmaceutical company’s stock valued at $24,725,000 after acquiring an additional 68,018 shares in the last quarter. 74.98% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Ann Powell sold 17,986 shares of the business’s stock in a transaction that occurred on Thursday, August 24th. The shares were sold at an average price of $61.25, for a total value of $1,101,642.50. Following the completion of the sale, the executive vice president now directly owns 27,868 shares in the company, valued at $1,706,915. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 0.09% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. TheStreet downgraded shares of Bristol-Myers Squibb from a “b-” rating to a “c+” rating in a report on Thursday, November 9th. Cantor Fitzgerald downgraded shares of Bristol-Myers Squibb from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $68.00 to $55.00 in a report on Wednesday, November 15th. UBS Group reissued a “neutral” rating and set a $60.00 price objective (down previously from $70.00) on shares of Bristol-Myers Squibb in a report on Friday, October 20th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Bristol-Myers Squibb in a report on Thursday, November 9th. They set a “hold” rating and a $55.00 price objective on the stock. Finally, Atlantic Securities decreased their price objective on shares of Bristol-Myers Squibb from $90.00 to $85.00 and set an “overweight” rating on the stock in a report on Friday, July 28th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $63.59.

Bristol-Myers Squibb Stock Performance

NYSE:BMY opened at $48.90 on Tuesday. The firm has a 50 day simple moving average of $55.36 and a 200-day simple moving average of $60.73. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.18 and a quick ratio of 1.07. The firm has a market cap of $99.50 billion, a PE ratio of 12.41, a P/E/G ratio of 1.62 and a beta of 0.38. Bristol-Myers Squibb has a 1-year low of $48.42 and a 1-year high of $81.43.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Thursday, October 26th. The biopharmaceutical company reported $2.00 earnings per share for the quarter, beating analysts’ consensus estimates of $1.76 by $0.24. The business had revenue of $10.97 billion during the quarter, compared to analyst estimates of $10.96 billion. Bristol-Myers Squibb had a net margin of 18.44% and a return on equity of 51.59%. The company’s revenue was down 2.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.99 earnings per share. On average, equities analysts expect that Bristol-Myers Squibb will post 7.56 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 1st. Stockholders of record on Friday, October 6th were given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 4.66%. The ex-dividend date was Thursday, October 5th. Bristol-Myers Squibb’s dividend payout ratio is presently 57.87%.

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, 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.