Larson Financial Group LLC grew its stake in shares of Bristol Myers Squibb Company (NYSE:BMY – Free Report) by 69.8% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 29,031 shares of the biopharmaceutical company’s stock after buying an additional 11,931 shares during the quarter. Larson Financial Group LLC’s holdings in Bristol Myers Squibb were worth $1,771,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Thoroughbred Financial Services LLC raised its holdings in Bristol Myers Squibb by 1.1% in the 4th quarter. Thoroughbred Financial Services LLC now owns 17,763 shares of the biopharmaceutical company’s stock valued at $1,004,000 after acquiring an additional 190 shares during the last quarter. Marcum Wealth LLC raised its holdings in Bristol Myers Squibb by 1.0% in the 1st quarter. Marcum Wealth LLC now owns 19,296 shares of the biopharmaceutical company’s stock valued at $1,177,000 after acquiring an additional 193 shares during the last quarter. Leelyn Smith LLC raised its holdings in Bristol Myers Squibb by 0.5% in the 4th quarter. Leelyn Smith LLC now owns 47,699 shares of the biopharmaceutical company’s stock valued at $2,698,000 after acquiring an additional 215 shares during the last quarter. Heron Bay Capital Management raised its holdings in Bristol Myers Squibb by 2.1% in the 4th quarter. Heron Bay Capital Management now owns 10,795 shares of the biopharmaceutical company’s stock valued at $611,000 after acquiring an additional 220 shares during the last quarter. Finally, Providence Capital Advisors LLC raised its holdings in Bristol Myers Squibb by 0.4% in the 4th quarter. Providence Capital Advisors LLC now owns 52,480 shares of the biopharmaceutical company’s stock valued at $2,968,000 after acquiring an additional 221 shares during the last quarter. Institutional investors own 76.41% of the company’s stock.
Bristol Myers Squibb Stock Down 1.8%
BMY stock opened at $46.47 on Wednesday. Bristol Myers Squibb Company has a 52 week low of $40.09 and a 52 week high of $63.33. The company has a market capitalization of $94.57 billion, a price-to-earnings ratio of 17.41, a price-to-earnings-growth ratio of 2.42 and a beta of 0.36. The firm’s 50-day moving average is $47.43 and its two-hundred day moving average is $53.10. The company has a current ratio of 1.28, a quick ratio of 1.17 and a debt-to-equity ratio of 2.65.
Bristol Myers Squibb Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Thursday, July 3rd will be issued a dividend of $0.62 per share. The ex-dividend date is Thursday, July 3rd. This represents a $2.48 dividend on an annualized basis and a dividend yield of 5.34%. Bristol Myers Squibb’s dividend payout ratio is currently 92.88%.
Wall Street Analysts Forecast Growth
A number of analysts have recently issued reports on BMY shares. UBS Group cut their price target on shares of Bristol Myers Squibb from $60.00 to $54.00 and set a “neutral” rating for the company in a report on Friday, April 11th. Cantor Fitzgerald restated a “neutral” rating and set a $55.00 price target on shares of Bristol Myers Squibb in a report on Tuesday, April 22nd. Argus upgraded shares of Bristol Myers Squibb to a “hold” rating in a report on Friday, April 25th. The Goldman Sachs Group restated a “neutral” rating and set a $55.00 price target (down previously from $67.00) on shares of Bristol Myers Squibb in a report on Tuesday, April 8th. Finally, William Blair restated a “market perform” rating on shares of Bristol Myers Squibb in a report on Friday, April 25th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, Bristol Myers Squibb presently has a consensus rating of “Hold” and an average target price of $57.69.
Read Our Latest Research Report on BMY
Insider Activity
In related news, EVP Samit Hirawat acquired 4,250 shares of the company’s stock in a transaction on Friday, April 25th. The shares were purchased at an average price of $47.58 per share, for a total transaction of $202,215.00. Following the purchase, the executive vice president owned 83,513 shares in the company, valued at $3,973,548.54. This represents a 5.36% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.07% of the stock is owned by corporate insiders.
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 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.
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