Wealth Alliance Increases Position in Bristol-Myers Squibb (NYSE:BMY)

Wealth Alliance lifted its position in Bristol-Myers Squibb (NYSE:BMY) by 13.8% in the second quarter, Holdings Channel reports. The firm owned 44,503 shares of the biopharmaceutical company’s stock after buying an additional 5,390 shares during the period. Wealth Alliance’s holdings in Bristol-Myers Squibb were worth $1,848,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of BMY. ESL Trust Services LLC purchased a new stake in shares of Bristol-Myers Squibb in the first quarter valued at approximately $27,000. LGT Financial Advisors LLC boosted its holdings in shares of Bristol-Myers Squibb by 42.7% in the second quarter. LGT Financial Advisors LLC now owns 759 shares of the biopharmaceutical company’s stock valued at $32,000 after purchasing an additional 227 shares during the period. MFA Wealth Advisors LLC purchased a new stake in shares of Bristol-Myers Squibb in the second quarter valued at approximately $39,000. Fairman Group LLC purchased a new stake in shares of Bristol-Myers Squibb in the fourth quarter valued at approximately $42,000. Finally, Beach Investment Counsel Inc. PA purchased a new stake in shares of Bristol-Myers Squibb in the second quarter valued at approximately $42,000. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on BMY shares. Barclays boosted their price objective on shares of Bristol-Myers Squibb from $41.00 to $42.00 and gave the stock an “underweight” rating in a research note on Thursday, August 22nd. Cantor Fitzgerald restated a “neutral” rating and set a $50.00 target price on shares of Bristol-Myers Squibb in a report on Monday. Jefferies Financial Group upped their target price on Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. Deutsche Bank Aktiengesellschaft lowered their target price on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating for the company in a report on Tuesday, July 23rd. Finally, StockNews.com upgraded Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Monday, July 29th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $55.00.

Bristol-Myers Squibb Stock Performance

Shares of BMY opened at $49.49 on Wednesday. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $59.46. The stock has a fifty day moving average price of $47.16 and a 200-day moving average price of $46.46. The company has a current ratio of 1.16, a quick ratio of 1.02 and a debt-to-equity ratio of 2.86. The firm has a market cap of $100.32 billion, a PE ratio of -15.96, a P/E/G ratio of 12.59 and a beta of 0.46.

Bristol-Myers Squibb (NYSE:BMY) last issued its earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.64 by $0.43. The company had revenue of $12.20 billion during the quarter, compared to analyst estimates of $11.54 billion. Bristol-Myers Squibb had a positive return on equity of 12.51% and a negative net margin of 14.06%. The firm’s quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter last year, the business posted $1.75 EPS. Equities research analysts predict that Bristol-Myers Squibb will post 0.77 earnings per share for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 4th will be paid a $0.60 dividend. The ex-dividend date is Friday, October 4th. This represents a $2.40 dividend on an annualized basis and a yield of 4.85%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is -77.42%.

About Bristol-Myers Squibb

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.