Independent Advisor Alliance Purchases 5,024 Shares of Bristol Myers Squibb Company (NYSE:BMY)

Independent Advisor Alliance raised its position in Bristol Myers Squibb Company (NYSE:BMY) by 7.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 76,073 shares of the biopharmaceutical company’s stock after purchasing an additional 5,024 shares during the quarter. Independent Advisor Alliance’s holdings in Bristol Myers Squibb were worth $4,640,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Pinney & Scofield Inc. acquired a new stake in Bristol Myers Squibb during the 4th quarter worth approximately $25,000. Park Square Financial Group LLC bought a new stake in shares of Bristol Myers Squibb in the fourth quarter worth $26,000. Transce3nd LLC acquired a new stake in Bristol Myers Squibb in the fourth quarter valued at $28,000. Global Wealth Strategies & Associates raised its position in Bristol Myers Squibb by 137.5% during the 1st quarter. Global Wealth Strategies & Associates now owns 475 shares of the biopharmaceutical company’s stock worth $29,000 after purchasing an additional 275 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new position in Bristol Myers Squibb during the 1st quarter worth about $31,000. 76.41% of the stock is owned by institutional investors and hedge funds.

Bristol Myers Squibb Stock Performance

BMY opened at $45.96 on Monday. The company has a market cap of $93.55 billion, a price-to-earnings ratio of 18.53, a PEG ratio of 2.35 and a beta of 0.36. The company’s fifty day moving average price is $47.32 and its two-hundred day moving average price is $51.82. Bristol Myers Squibb Company has a 1-year low of $42.96 and a 1-year high of $63.33. The company has a current ratio of 1.21, a quick ratio of 1.11 and a debt-to-equity ratio of 2.54.

Bristol Myers Squibb (NYSE:BMY) last posted its earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.39. The company had revenue of $12.27 billion for the quarter, compared to analyst estimates of $11.32 billion. Bristol Myers Squibb had a net margin of 10.58% and a return on equity of 80.04%. The firm’s revenue was up .6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.07 EPS. On average, analysts expect that Bristol Myers Squibb Company will post 6.74 EPS for the current fiscal year.

Bristol Myers Squibb Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Thursday, July 3rd were given a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 5.4%. The ex-dividend date of this dividend was Thursday, July 3rd. Bristol Myers Squibb’s dividend payout ratio is presently 100.00%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on BMY. Morgan Stanley reissued a “hold” rating on shares of Bristol Myers Squibb in a research note on Thursday, July 31st. William Blair reissued a “market perform” rating on shares of Bristol Myers Squibb in a research report on Friday, April 25th. Daiwa America downgraded shares of Bristol Myers Squibb from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 5th. Jefferies Financial Group decreased their price objective 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. Finally, Citigroup dropped their target price on shares of Bristol Myers Squibb from $51.00 to $47.00 and set a “neutral” rating on the stock in a report on Friday, August 1st. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $56.38.

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.