Wealth Effects LLC Purchases 2,924 Shares of Bristol Myers Squibb Company (NYSE:BMY)

Wealth Effects LLC increased its position in Bristol Myers Squibb Company (NYSE:BMY) by 19.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 17,776 shares of the biopharmaceutical company’s stock after purchasing an additional 2,924 shares during the quarter. Wealth Effects LLC’s holdings in Bristol Myers Squibb were worth $1,084,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Pinney & Scofield Inc. bought a new stake in shares of Bristol Myers Squibb in the 4th quarter valued at about $25,000. Park Square Financial Group LLC bought a new stake in shares of Bristol Myers Squibb in the 4th quarter valued at about $26,000. Global Wealth Strategies & Associates raised its holdings in shares of Bristol Myers Squibb by 137.5% in the 1st quarter. Global Wealth Strategies & Associates now owns 475 shares of the biopharmaceutical company’s stock valued at $29,000 after purchasing an additional 275 shares during the period. Transce3nd LLC bought a new stake in shares of Bristol Myers Squibb in the 4th quarter valued at about $28,000. Finally, Fairway Wealth LLC bought a new stake in shares of Bristol Myers Squibb in the 4th quarter valued at about $28,000. 76.41% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. William Blair restated a “market perform” rating on shares of Bristol Myers Squibb in a research report on Friday, April 25th. Argus upgraded Bristol Myers Squibb to a “hold” rating in a report on Friday, April 25th. Cantor Fitzgerald restated a “neutral” rating and set a $55.00 price objective on shares of Bristol Myers Squibb in a report on Tuesday, April 22nd. UBS Group reduced their price objective on Bristol Myers Squibb from $60.00 to $54.00 and set a “neutral” rating for the company in a report on Friday, April 11th. Finally, Piper Sandler began coverage on Bristol Myers Squibb in a report on Tuesday, April 22nd. They set an “overweight” rating and a $65.00 price objective for the company. 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’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $58.00.

Bristol Myers Squibb Stock Down 0.6%

Shares of BMY opened at $46.73 on Thursday. Bristol Myers Squibb Company has a one year low of $39.35 and a one year high of $63.33. The company has a market cap of $95.10 billion, a P/E ratio of 17.50, a P/E/G ratio of 1.39 and a beta of 0.38. The company has a debt-to-equity ratio of 2.65, a current ratio of 1.28 and a quick ratio of 1.17. The firm has a 50 day simple moving average of $48.01 and a two-hundred day simple moving average of $54.11.

Bristol Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Thursday, April 24th. The biopharmaceutical company reported $1.80 EPS for the quarter, beating the consensus estimate of $1.50 by $0.30. Bristol Myers Squibb had a net margin of 11.38% and a return on equity of 87.62%. The business had revenue of $11.20 billion during the quarter, compared to the consensus estimate of $10.77 billion. During the same period in the previous year, the business earned ($4.40) earnings per share. The company’s revenue was down 5.6% on a year-over-year basis. Research analysts forecast that Bristol Myers Squibb Company will post 6.74 EPS for the current fiscal year.

Bristol Myers Squibb Dividend Announcement

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. The ex-dividend date is Thursday, July 3rd. This represents a $2.48 annualized dividend and a yield of 5.31%. Bristol Myers Squibb’s dividend payout ratio is currently 92.88%.

Insider Buying and Selling at Bristol Myers Squibb

In related news, EVP Samit Hirawat purchased 4,250 shares of the stock in a transaction dated Friday, April 25th. The stock was bought at an average cost of $47.58 per share, for a total transaction of $202,215.00. Following the completion of the acquisition, the executive vice president now owns 83,513 shares of the company’s stock, valued at approximately $3,973,548.54. This represents a 5.36% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.09% of the company’s stock.

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.