Graybill Wealth Management LTD. Purchases New Shares in Bristol Myers Squibb Company (NYSE:BMY)

Graybill Wealth Management LTD. purchased a new stake in Bristol Myers Squibb Company (NYSE:BMY) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 8,567 shares of the biopharmaceutical company’s stock, valued at approximately $523,000.

A number of other institutional investors have also recently added to or reduced their stakes in BMY. Norges Bank acquired a new stake in Bristol Myers Squibb in the 4th quarter valued at $1,989,525,000. Ameriprise Financial Inc. grew its stake in Bristol Myers Squibb by 59.9% in the 4th quarter. Ameriprise Financial Inc. now owns 32,079,246 shares of the biopharmaceutical company’s stock valued at $1,814,341,000 after acquiring an additional 12,011,983 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its stake in Bristol Myers Squibb by 701.2% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 12,470,106 shares of the biopharmaceutical company’s stock valued at $705,309,000 after acquiring an additional 10,913,708 shares during the period. Wellington Management Group LLP grew its stake in Bristol Myers Squibb by 3,880.0% in the 4th quarter. Wellington Management Group LLP now owns 5,977,505 shares of the biopharmaceutical company’s stock valued at $338,088,000 after acquiring an additional 5,827,317 shares during the period. Finally, Schroder Investment Management Group boosted its stake in Bristol Myers Squibb by 49.7% during the 4th quarter. Schroder Investment Management Group now owns 11,413,428 shares of the biopharmaceutical company’s stock worth $639,837,000 after purchasing an additional 3,787,075 shares during the last quarter. Institutional investors and hedge funds own 76.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. William Blair reaffirmed a “market perform” rating on shares of Bristol Myers Squibb in a research note on Friday, April 25th. Jefferies Financial Group lowered their target price on shares of Bristol Myers Squibb from $70.00 to $68.00 and set a “buy” rating on the stock in a research note 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. UBS Group reduced their price target on Bristol Myers Squibb from $60.00 to $54.00 and set a “neutral” rating on the stock in a report on Friday, April 11th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $55.00 price target on shares of Bristol Myers Squibb in a report on Tuesday, April 22nd. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $57.69.

Bristol Myers Squibb Stock Performance

BMY stock opened at $46.91 on Monday. Bristol Myers Squibb Company has a 12-month low of $39.93 and a 12-month high of $63.33. The firm has a market cap of $95.47 billion, a P/E ratio of 17.57, a P/E/G ratio of 2.38 and a beta of 0.36. The stock’s 50 day simple moving average is $47.51 and its 200 day simple moving average is $53.22. 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 (NYSE:BMY) last announced its quarterly earnings data on Thursday, April 24th. The biopharmaceutical company reported $1.80 earnings per share 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 analyst estimates 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 was down 5.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($4.40) earnings per share. As a group, equities research analysts predict that Bristol Myers Squibb Company will post 6.74 EPS for the current year.

Bristol Myers Squibb Dividend Announcement

The business also recently announced 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. This represents a $2.48 annualized dividend and a dividend yield of 5.29%. The ex-dividend date is Thursday, July 3rd. Bristol Myers Squibb’s dividend payout ratio is 92.88%.

Insider Activity at Bristol Myers Squibb

In related news, EVP Samit Hirawat bought 4,250 shares of Bristol Myers Squibb stock in a transaction dated Friday, April 25th. The stock was acquired at an average cost of $47.58 per share, with a total value of $202,215.00. Following the completion of the acquisition, the executive vice president directly owned 83,513 shares in the company, valued at approximately $3,973,548.54. This trade represents a 5.36% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 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.