Tower Bridge Advisors Buys 4,796 Shares of Bristol Myers Squibb Company (NYSE:BMY)

Tower Bridge Advisors boosted its stake in shares of Bristol Myers Squibb Company (NYSE:BMY) by 15.2% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 36,352 shares of the biopharmaceutical company’s stock after buying an additional 4,796 shares during the quarter. Tower Bridge Advisors’ holdings in Bristol Myers Squibb were worth $2,217,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. Thoroughbred Financial Services LLC grew its position in Bristol Myers Squibb by 1.1% during the fourth quarter. Thoroughbred Financial Services LLC now owns 17,763 shares of the biopharmaceutical company’s stock valued at $1,004,000 after buying an additional 190 shares during the period. Marcum Wealth LLC boosted its position in Bristol Myers Squibb by 1.0% during the first quarter. Marcum Wealth LLC now owns 19,296 shares of the biopharmaceutical company’s stock worth $1,177,000 after purchasing an additional 193 shares during the period. Beacon Investment Advisory Services Inc. boosted its position in Bristol Myers Squibb by 2.7% during the first quarter. Beacon Investment Advisory Services Inc. now owns 8,063 shares of the biopharmaceutical company’s stock worth $492,000 after purchasing an additional 212 shares during the period. Nemes Rush Group LLC boosted its position in Bristol Myers Squibb by 0.8% during the fourth quarter. Nemes Rush Group LLC now owns 27,027 shares of the biopharmaceutical company’s stock worth $1,529,000 after purchasing an additional 221 shares during the period. Finally, 1858 Wealth Management LLC boosted its position in Bristol Myers Squibb by 3.6% during the first quarter. 1858 Wealth Management LLC now owns 6,421 shares of the biopharmaceutical company’s stock worth $392,000 after purchasing an additional 221 shares during the period. Institutional investors own 76.41% of the company’s stock.

Bristol Myers Squibb Stock Performance

NYSE:BMY opened at $46.85 on Wednesday. The stock has a market cap of $95.35 billion, a P/E ratio of 17.55, a price-to-earnings-growth ratio of 2.50 and a beta of 0.36. The firm’s fifty day simple moving average is $47.65 and its 200 day simple moving average is $52.49. Bristol Myers Squibb Company has a twelve month low of $44.00 and a twelve month high of $63.33. The company has a quick ratio of 1.17, a current ratio of 1.28 and a debt-to-equity ratio of 2.65.

Bristol Myers Squibb Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Thursday, July 3rd will be given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 5.29%. The ex-dividend date of this dividend is Thursday, July 3rd. Bristol Myers Squibb’s dividend payout ratio is currently 92.88%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on BMY shares. Jefferies Financial Group cut their target price on shares of Bristol Myers Squibb from $70.00 to $68.00 and set a “buy” rating for the company in a research report on Wednesday, April 23rd. Morgan Stanley lowered their target price on shares of Bristol Myers Squibb from $36.00 to $34.00 and set an “underweight” rating on the stock in a research note on Thursday, July 10th. UBS Group lowered 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. Argus raised shares of Bristol Myers Squibb to a “hold” rating in a research note on Friday, April 25th. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $55.00 price target on shares of Bristol Myers Squibb in a research note on Tuesday, April 22nd. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $58.53.

Bristol Myers Squibb Company 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.