Kingsview Wealth Management LLC Boosts Stock Position in Bristol Myers Squibb Company (NYSE:BMY)

Kingsview Wealth Management LLC grew its stake in shares of Bristol Myers Squibb Company (NYSE:BMY) by 187.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 91,080 shares of the biopharmaceutical company’s stock after buying an additional 59,362 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Bristol Myers Squibb were worth $5,555,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of BMY. Polar Asset Management Partners Inc. purchased a new stake in Bristol Myers Squibb in the 4th quarter worth $16,651,000. Avaii Wealth Management LLC grew its position in Bristol Myers Squibb by 590.9% during the 1st quarter. Avaii Wealth Management LLC now owns 78,597 shares of the biopharmaceutical company’s stock worth $4,794,000 after purchasing an additional 67,221 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of Bristol Myers Squibb by 1.4% in the first quarter. Assenagon Asset Management S.A. now owns 65,038 shares of the biopharmaceutical company’s stock valued at $3,967,000 after purchasing an additional 869 shares during the period. Shorepoint Capital Partners LLC raised its position in shares of Bristol Myers Squibb by 2.2% in the fourth quarter. Shorepoint Capital Partners LLC now owns 58,426 shares of the biopharmaceutical company’s stock valued at $3,305,000 after buying an additional 1,248 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its stake in Bristol Myers Squibb by 17.0% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 550,613 shares of the biopharmaceutical company’s stock worth $33,582,000 after buying an additional 80,087 shares during the period. 76.41% of the stock is owned by institutional investors.

Insider Activity at Bristol Myers Squibb

In other news, EVP Samit Hirawat acquired 4,250 shares of the company’s stock in a transaction dated Friday, April 25th. The stock was acquired at an average cost of $47.58 per share, for a total transaction of $202,215.00. Following the acquisition, the executive vice president directly owned 83,513 shares in the company, valued at approximately $3,973,548.54. This represents a 5.36% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 0.09% of the stock is owned by company insiders.

Bristol Myers Squibb Trading Up 1.9%

Shares of NYSE:BMY opened at $48.07 on Friday. Bristol Myers Squibb Company has a 12-month low of $41.61 and a 12-month high of $63.33. The business’s fifty day simple moving average is $47.45 and its 200-day simple moving average is $53.00. The company has a current ratio of 1.28, a quick ratio of 1.17 and a debt-to-equity ratio of 2.65. The company has a market capitalization of $97.82 billion, a PE ratio of 18.00, a P/E/G ratio of 2.43 and a beta of 0.36.

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

Bristol Myers Squibb Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 3rd will be paid a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 5.16%. The ex-dividend date of this dividend is Thursday, July 3rd. Bristol Myers Squibb’s dividend payout ratio is presently 92.88%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Morgan Stanley reduced their price objective on shares of Bristol Myers Squibb from $36.00 to $34.00 and set an “underweight” rating for the company in a research report on Thursday, July 10th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $55.00 price objective on shares of Bristol Myers Squibb in a research report on Tuesday, April 22nd. Piper Sandler initiated coverage on Bristol Myers Squibb in a report on Tuesday, April 22nd. They set an “overweight” rating and a $65.00 price target on the stock. UBS Group reduced their target price on shares of Bristol Myers Squibb from $60.00 to $54.00 and set a “neutral” rating on the stock in a research note on Friday, April 11th. Finally, Argus upgraded Bristol Myers Squibb to a “hold” rating in a research report on Friday, April 25th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, six have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $57.69.

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.