McGowan Group Asset Management Inc. Has $12.68 Million Position in Bristol-Myers Squibb (NYSE:BMY)

McGowan Group Asset Management Inc. grew its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 0.7% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 189,796 shares of the biopharmaceutical company’s stock after buying an additional 1,277 shares during the period. Bristol-Myers Squibb makes up 2.0% of McGowan Group Asset Management Inc.’s investment portfolio, making the stock its 15th biggest holding. McGowan Group Asset Management Inc.’s holdings in Bristol-Myers Squibb were worth $12,682,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Moisand Fitzgerald Tamayo LLC raised its position in shares of Bristol-Myers Squibb by 9.1% during the second quarter. Moisand Fitzgerald Tamayo LLC now owns 1,793 shares of the biopharmaceutical company’s stock valued at $120,000 after buying an additional 150 shares during the last quarter. Pegasus Asset Management Inc. increased its stake in Bristol-Myers Squibb by 0.6% in the second quarter. Pegasus Asset Management Inc. now owns 25,933 shares of the biopharmaceutical company’s stock valued at $1,733,000 after acquiring an additional 151 shares during the period. Checchi Capital Advisers LLC increased its stake in Bristol-Myers Squibb by 0.8% in the second quarter. Checchi Capital Advisers LLC now owns 19,477 shares of the biopharmaceutical company’s stock valued at $1,301,000 after acquiring an additional 152 shares during the period. First Horizon Corp increased its stake in Bristol-Myers Squibb by 0.3% in the second quarter. First Horizon Corp now owns 64,428 shares of the biopharmaceutical company’s stock valued at $4,305,000 after acquiring an additional 166 shares during the period. Finally, Personal CFO Solutions LLC increased its stake in Bristol-Myers Squibb by 1.0% in the second quarter. Personal CFO Solutions LLC now owns 17,341 shares of the biopharmaceutical company’s stock valued at $1,159,000 after acquiring an additional 173 shares during the period. 72.10% of the stock is owned by institutional investors and hedge funds.

In other news, CFO David V. Elkins sold 99,691 shares of the stock in a transaction that occurred on Thursday, August 12th. The shares were sold at an average price of $66.95, for a total transaction of $6,674,312.45. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.11% of the stock is owned by corporate insiders.

A number of research firms recently weighed in on BMY. Morgan Stanley upped their target price on shares of Bristol-Myers Squibb from $62.00 to $71.00 and gave the company an “equal weight” rating in a research note on Thursday, July 29th. Truist Securities began coverage on shares of Bristol-Myers Squibb in a research note on Wednesday, July 28th. They issued a “buy” rating and a $74.00 target price on the stock. Bank of America reissued a “buy” rating on shares of Bristol-Myers Squibb in a research note on Wednesday, July 28th. Finally, Truist began coverage on shares of Bristol-Myers Squibb in a research note on Wednesday, July 28th. They issued a “buy” rating and a $74.00 target price on the stock. Three research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Bristol-Myers Squibb currently has a consensus rating of “Buy” and an average price target of $73.83.

Shares of BMY traded up $0.16 during mid-day trading on Wednesday, hitting $60.49. 281,389 shares of the company traded hands, compared to its average volume of 10,601,567. Bristol-Myers Squibb has a one year low of $56.75 and a one year high of $69.75. The company has a current ratio of 1.54, a quick ratio of 1.42 and a debt-to-equity ratio of 1.15. The business has a 50-day moving average of $66.48 and a 200 day moving average of $65.37. The stock has a market capitalization of $134.42 billion, a price-to-earnings ratio of -26.57, a PEG ratio of 1.20 and a beta of 0.61.

Bristol-Myers Squibb (NYSE:BMY) last released its quarterly earnings results on Tuesday, July 27th. The biopharmaceutical company reported $1.93 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.89 by $0.04. Bristol-Myers Squibb had a negative net margin of 11.44% and a positive return on equity of 37.76%. The business had revenue of $11.70 billion for the quarter, compared to analysts’ expectations of $11.24 billion. As a group, analysts anticipate that Bristol-Myers Squibb will post 7.46 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, November 1st. Stockholders of record on Friday, October 1st will be paid a dividend of $0.49 per share. The ex-dividend date of this dividend is Thursday, September 30th. This represents a $1.96 annualized dividend and a dividend yield of 3.24%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently 30.43%.

Bristol-Myers Squibb Profile

Bristol Myers Squibb Co engages in the discovery, development, licensing, manufacture, marketing, distribution, and sale of biopharmaceutical products. It offers chemically-synthesized drugs or small molecules and products produced from biological processes called biologics. The company was founded in August 1933 and is headquartered in New York, NY.

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Institutional Ownership by Quarter for Bristol-Myers Squibb (NYSE:BMY)

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