Venturi Wealth Management LLC Grows Stake in Bristol-Myers Squibb (NYSE:BMY)

Venturi Wealth Management LLC grew its holdings in shares of Bristol-Myers Squibb (NYSE:BMY) by 116.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,898 shares of the biopharmaceutical company’s stock after buying an additional 1,558 shares during the period. Venturi Wealth Management LLC’s holdings in Bristol-Myers Squibb were worth $150,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BMY. Capital International Investors lifted its position in shares of Bristol-Myers Squibb by 14.1% in the 1st quarter. Capital International Investors now owns 70,203,814 shares of the biopharmaceutical company’s stock worth $3,807,153,000 after purchasing an additional 8,675,322 shares during the period. Primecap Management Co. CA lifted its holdings in Bristol-Myers Squibb by 1.0% in the second quarter. Primecap Management Co. CA now owns 23,498,604 shares of the biopharmaceutical company’s stock worth $975,897,000 after buying an additional 225,197 shares during the period. Legal & General Group Plc boosted its position in Bristol-Myers Squibb by 3.8% during the 2nd quarter. Legal & General Group Plc now owns 20,225,040 shares of the biopharmaceutical company’s stock valued at $839,946,000 after acquiring an additional 735,613 shares in the last quarter. Independent Franchise Partners LLP grew its holdings in shares of Bristol-Myers Squibb by 4.0% during the 2nd quarter. Independent Franchise Partners LLP now owns 14,600,621 shares of the biopharmaceutical company’s stock worth $606,364,000 after acquiring an additional 556,295 shares during the period. Finally, Pzena Investment Management LLC raised its position in shares of Bristol-Myers Squibb by 15.0% in the 2nd quarter. Pzena Investment Management LLC now owns 14,134,337 shares of the biopharmaceutical company’s stock worth $586,999,000 after acquiring an additional 1,840,424 shares in the last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Bristol-Myers Squibb Stock Performance

BMY opened at $58.43 on Thursday. The company’s 50 day moving average is $52.24 and its 200 day moving average is $46.99. The company has a current ratio of 1.24, a quick ratio of 1.09 and a debt-to-equity ratio of 2.83. The company has a market cap of $118.51 billion, a price-to-earnings ratio of -16.28, a PEG ratio of 21.34 and a beta of 0.44. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $61.08.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.49 by $0.31. Bristol-Myers Squibb had a negative net margin of 15.30% and a positive return on equity of 11.94%. The firm had revenue of $11.89 billion during the quarter, compared to the consensus estimate of $11.26 billion. During the same quarter in the previous year, the firm posted $2.00 EPS. The company’s revenue for the quarter was up 8.4% compared to the same quarter last year. On average, equities research analysts predict that Bristol-Myers Squibb will post 0.92 EPS for the current year.

Bristol-Myers Squibb Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 4th were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, October 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.11%. Bristol-Myers Squibb’s payout ratio is currently -66.85%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $50.00 price target on shares of Bristol-Myers Squibb in a research note on Friday, October 18th. Daiwa Capital Markets upgraded shares of Bristol-Myers Squibb from a “neutral” rating to an “outperform” rating in a research note on Wednesday. Morgan Stanley boosted their price objective on shares of Bristol-Myers Squibb from $36.00 to $39.00 and gave the stock an “underweight” rating in a research note on Tuesday. Citigroup raised their price objective on Bristol-Myers Squibb from $55.00 to $60.00 and gave the company a “neutral” rating in a research report on Tuesday. Finally, Leerink Partners raised Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $55.00 to $73.00 in a report on Tuesday. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating, two have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $54.07.

Insider Activity at Bristol-Myers Squibb

In other news, EVP Samit Hirawat bought 1,830 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were bought at an average price of $54.67 per share, for a total transaction of $100,046.10. Following the purchase, the executive vice president now owns 62,109 shares in the company, valued at approximately $3,395,499.03. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Bristol-Myers Squibb news, SVP Phil M. Holzer sold 700 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $55.62, for a total value of $38,934.00. Following the completion of the transaction, the senior vice president now directly owns 11,760 shares in the company, valued at $654,091.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Samit Hirawat bought 1,830 shares of Bristol-Myers Squibb stock in a transaction dated Friday, November 1st. The stock was purchased at an average cost of $54.67 per share, for a total transaction of $100,046.10. Following the completion of the acquisition, the executive vice president now directly owns 62,109 shares of the company’s stock, valued at approximately $3,395,499.03. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. 0.09% of the stock is currently owned by corporate insiders.

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.