Wambolt & Associates LLC Purchases New Shares in Bristol-Myers Squibb (NYSE:BMY)

Wambolt & Associates LLC purchased a new stake in shares of Bristol-Myers Squibb (NYSE:BMY) during the 2nd quarter, Holdings Channel reports. The institutional investor purchased 4,364 shares of the biopharmaceutical company’s stock, valued at approximately $290,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Family Management Corp lifted its holdings in shares of Bristol-Myers Squibb by 2.9% during the first quarter. Family Management Corp now owns 49,613 shares of the biopharmaceutical company’s stock valued at $3,132,000 after purchasing an additional 1,377 shares in the last quarter. ProShare Advisors LLC lifted its holdings in shares of Bristol-Myers Squibb by 16.4% during the second quarter. ProShare Advisors LLC now owns 422,937 shares of the biopharmaceutical company’s stock valued at $28,261,000 after purchasing an additional 59,611 shares in the last quarter. Biondo Investment Advisors LLC lifted its holdings in shares of Bristol-Myers Squibb by 5.0% during the second quarter. Biondo Investment Advisors LLC now owns 96,114 shares of the biopharmaceutical company’s stock valued at $6,422,000 after purchasing an additional 4,608 shares in the last quarter. Taylor Frigon Capital Management LLC lifted its holdings in shares of Bristol-Myers Squibb by 8.7% during the second quarter. Taylor Frigon Capital Management LLC now owns 20,395 shares of the biopharmaceutical company’s stock valued at $1,363,000 after purchasing an additional 1,639 shares in the last quarter. Finally, Kentucky Retirement Systems bought a new position in shares of Bristol-Myers Squibb during the second quarter valued at $8,692,000. Institutional investors own 72.10% of the company’s stock.

A number of research analysts have recently issued reports on BMY shares. Berenberg Bank lowered their price target on Bristol-Myers Squibb from $75.00 to $71.00 and set a “buy” rating on the stock in a report on Monday. TheStreet cut Bristol-Myers Squibb from a “b” rating to a “c+” rating in a research report on Wednesday, September 22nd. Truist Securities initiated coverage on Bristol-Myers Squibb in a research report on Wednesday, July 28th. They set a “buy” rating and a $74.00 price objective for the company. Truist initiated coverage on Bristol-Myers Squibb in a research report on Wednesday, July 28th. They set a “buy” rating and a $74.00 price objective for the company. Finally, Morgan Stanley reduced their price objective on Bristol-Myers Squibb from $71.00 to $66.00 and set an “equal weight” rating for the company in a research report on Tuesday. Four analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $72.42.

NYSE:BMY opened at $57.07 on Thursday. The firm has a market capitalization of $126.82 billion, a price-to-earnings ratio of -25.14, a PEG ratio of 1.20 and a beta of 0.61. Bristol-Myers Squibb has a 1 year low of $56.66 and a 1 year high of $69.75. The business has a 50 day simple moving average of $63.68 and a 200-day simple moving average of $65.03. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.54 and a quick ratio of 1.42.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Tuesday, July 27th. The biopharmaceutical company reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.04. The business had revenue of $11.70 billion during the quarter, compared to analyst estimates of $11.24 billion. Bristol-Myers Squibb had a positive return on equity of 37.76% and a negative net margin of 11.44%. As a group, analysts expect that Bristol-Myers Squibb will post 7.46 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 1st. Stockholders of record on Friday, October 1st will be paid a $0.49 dividend. This represents a $1.96 annualized dividend and a dividend yield of 3.43%. The ex-dividend date of this dividend is Thursday, September 30th. Bristol-Myers Squibb’s payout ratio is 30.43%.

In other news, CFO David V. Elkins sold 99,691 shares of Bristol-Myers Squibb stock in a transaction on Thursday, August 12th. The stock was sold at an average price of $66.95, for a total transaction of $6,674,312.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Giovanni Caforio sold 25,000 shares of Bristol-Myers Squibb stock in a transaction on Monday, September 20th. The stock was sold at an average price of $60.64, for a total value of $1,516,000.00. The disclosure for this sale can be found here. Corporate insiders own 0.11% of the company’s stock.

Bristol-Myers Squibb Profile

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.

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Institutional Ownership by Quarter for Bristol-Myers Squibb (NYSE:BMY)

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