Providence Wealth Advisors LLC Grows Stock Holdings in Bristol-Myers Squibb (NYSE:BMY)

Providence Wealth Advisors LLC grew its holdings in Bristol-Myers Squibb (NYSE:BMY) by 1.9% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 30,054 shares of the biopharmaceutical company’s stock after buying an additional 552 shares during the period. Providence Wealth Advisors LLC’s holdings in Bristol-Myers Squibb were worth $1,260,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in BMY. Norges Bank purchased a new stake in shares of Bristol-Myers Squibb in the fourth quarter valued at $1,560,524,000. Capital International Investors grew its holdings in Bristol-Myers Squibb by 14.1% during the 1st quarter. Capital International Investors now owns 70,203,814 shares of the biopharmaceutical company’s stock valued at $3,807,153,000 after purchasing an additional 8,675,322 shares during the last quarter. M&G Plc purchased a new stake in Bristol-Myers Squibb in the 1st quarter worth about $392,608,000. Pzena Investment Management LLC lifted its stake in Bristol-Myers Squibb by 119.8% in the first quarter. Pzena Investment Management LLC now owns 12,293,913 shares of the biopharmaceutical company’s stock worth $666,699,000 after purchasing an additional 6,701,097 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of Bristol-Myers Squibb by 77.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 12,547,823 shares of the biopharmaceutical company’s stock valued at $680,469,000 after buying an additional 5,461,767 shares during the period. 76.41% of the stock is currently owned by institutional investors.

Bristol-Myers Squibb Stock Performance

BMY opened at $49.13 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.16 and a debt-to-equity ratio of 2.86. Bristol-Myers Squibb has a 52-week low of $39.35 and a 52-week high of $60.55. The company has a market cap of $99.61 billion, a P/E ratio of -15.85, a price-to-earnings-growth ratio of 12.59 and a beta of 0.46. The firm’s 50-day moving average price is $46.79 and its 200-day moving average price is $46.50.

Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.64 by $0.43. Bristol-Myers Squibb had a negative net margin of 14.06% and a positive return on equity of 12.51%. The business had revenue of $12.20 billion for the quarter, compared to analyst estimates of $11.54 billion. During the same quarter last year, the business earned $1.75 earnings per share. The company’s revenue for the quarter was up 8.7% compared to the same quarter last year. As a group, equities analysts anticipate that Bristol-Myers Squibb will post 0.77 EPS for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 4th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 4.88%. The ex-dividend date is Friday, October 4th. Bristol-Myers Squibb’s payout ratio is -77.42%.

Analyst Upgrades and Downgrades

BMY has been the subject of a number of research analyst reports. Cantor Fitzgerald reissued a “neutral” rating and set a $45.00 price target on shares of Bristol-Myers Squibb in a research note on Monday, July 22nd. StockNews.com upgraded Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 29th. TD Cowen raised their price target on shares of Bristol-Myers Squibb from $45.00 to $53.00 and gave the stock a “hold” rating in a research note on Monday, August 12th. Jefferies Financial Group upped their target price on shares of Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a “hold” rating in a research note on Wednesday, August 28th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a report on Tuesday, July 23rd. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $54.67.

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.