Investment Research & Advisory Group Inc. Grows Holdings in Bristol Myers Squibb Company (NYSE:BMY)

Investment Research & Advisory Group Inc. increased its stake in Bristol Myers Squibb Company (NYSE:BMY) by 83.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,650 shares of the biopharmaceutical company’s stock after buying an additional 750 shares during the period. Investment Research & Advisory Group Inc.’s holdings in Bristol Myers Squibb were worth $101,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Kentucky Trust Co increased its position in shares of Bristol Myers Squibb by 6.3% in the 1st quarter. Kentucky Trust Co now owns 7,305 shares of the biopharmaceutical company’s stock worth $446,000 after purchasing an additional 430 shares during the last quarter. Redwood Wealth Management Group LLC grew its stake in Bristol Myers Squibb by 5.2% in the first quarter. Redwood Wealth Management Group LLC now owns 13,951 shares of the biopharmaceutical company’s stock worth $851,000 after purchasing an additional 688 shares in the last quarter. Friedenthal Financial increased its holdings in Bristol Myers Squibb by 51.4% in the first quarter. Friedenthal Financial now owns 1,331 shares of the biopharmaceutical company’s stock valued at $81,000 after buying an additional 452 shares during the last quarter. PSI Advisors LLC raised its stake in Bristol Myers Squibb by 6.7% during the first quarter. PSI Advisors LLC now owns 4,854 shares of the biopharmaceutical company’s stock valued at $296,000 after buying an additional 304 shares in the last quarter. Finally, CWA Asset Management Group LLC lifted its holdings in Bristol Myers Squibb by 4.3% during the 1st quarter. CWA Asset Management Group LLC now owns 115,915 shares of the biopharmaceutical company’s stock worth $7,070,000 after buying an additional 4,766 shares during the last quarter. 76.41% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Bristol Myers Squibb

In other news, EVP Samit Hirawat bought 4,250 shares of the firm’s stock in a transaction that occurred on Friday, April 25th. The stock was acquired at an average price of $47.58 per share, with a total value of $202,215.00. Following the completion of the purchase, the executive vice president now directly owns 83,513 shares of the company’s stock, valued at $3,973,548.54. This represents a 5.36% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.09% of the company’s stock.

Bristol Myers Squibb Trading Down 0.9%

Shares of BMY stock opened at $46.82 on Friday. Bristol Myers Squibb Company has a 1 year low of $39.35 and a 1 year high of $63.33. The firm has a market capitalization of $95.29 billion, a PE ratio of 17.54, a price-to-earnings-growth ratio of 1.39 and a beta of 0.38. The stock has a fifty day moving average of $48.28 and a two-hundred day moving average of $54.43. The company has a debt-to-equity ratio of 2.65, a quick ratio of 1.17 and a current ratio of 1.28.

Bristol Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share for the quarter, topping the consensus estimate of $1.50 by $0.30. The business had revenue of $11.20 billion during the quarter, compared to the consensus estimate of $10.77 billion. Bristol Myers Squibb had a net margin of 11.38% and a return on equity of 87.62%. The company’s quarterly revenue was down 5.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($4.40) earnings per share. As a group, research analysts expect that Bristol Myers Squibb Company will post 6.74 EPS for the current year.

Bristol Myers Squibb Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Thursday, July 3rd will be paid a dividend of $0.62 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $2.48 dividend on an annualized basis and a dividend yield of 5.30%. Bristol Myers Squibb’s dividend payout ratio is presently 92.88%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on BMY. Argus upgraded Bristol Myers Squibb to a “hold” rating in a report on Friday, April 25th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $55.00 price objective on shares of Bristol Myers Squibb in a report on Tuesday, April 22nd. Jefferies Financial Group dropped their target price on shares of Bristol Myers Squibb from $70.00 to $68.00 and set a “buy” rating on the stock in a report on Wednesday, April 23rd. Wall Street Zen downgraded shares of Bristol Myers Squibb from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 6th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and set a $55.00 price objective (down previously from $67.00) on shares of Bristol Myers Squibb in a research report on Tuesday, April 8th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, six have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $58.00.

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 for reduction in risk of stroke/systemic embolism in non-valvular atrial fibrillation, and for the treatment of DVT/PE; Opdivo for various anti-cancer indications, including bladder, blood, CRC, head and neck, RCC, HCC, lung, melanoma, MPM, stomach and esophageal cancer; Pomalyst/Imnovid for multiple myeloma; Orencia for active rheumatoid arthritis and psoriatic arthritis; and Sprycel for the treatment of Philadelphia chromosome-positive chronic myeloid leukemia.