Pallas Capital Advisors LLC Purchases 9,537 Shares of Bristol-Myers Squibb (NYSE:BMY)

Pallas Capital Advisors LLC grew its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 51.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,147 shares of the biopharmaceutical company’s stock after acquiring an additional 9,537 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Bristol-Myers Squibb were worth $1,490,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Lincoln National Corp increased its stake in Bristol-Myers Squibb by 7.7% during the 1st quarter. Lincoln National Corp now owns 42,894 shares of the biopharmaceutical company’s stock valued at $2,326,000 after purchasing an additional 3,052 shares in the last quarter. Accel Wealth Management increased its position in shares of Bristol-Myers Squibb by 19.0% during the first quarter. Accel Wealth Management now owns 4,934 shares of the biopharmaceutical company’s stock worth $268,000 after acquiring an additional 788 shares in the last quarter. Xponance Inc. raised its holdings in shares of Bristol-Myers Squibb by 8.8% in the 2nd quarter. Xponance Inc. now owns 317,381 shares of the biopharmaceutical company’s stock worth $13,181,000 after acquiring an additional 25,543 shares during the last quarter. Plato Investment Management Ltd lifted its position in Bristol-Myers Squibb by 25.4% in the 2nd quarter. Plato Investment Management Ltd now owns 103,954 shares of the biopharmaceutical company’s stock valued at $4,317,000 after acquiring an additional 21,041 shares in the last quarter. Finally, Advisory Services Network LLC boosted its stake in Bristol-Myers Squibb by 47.0% during the 1st quarter. Advisory Services Network LLC now owns 119,423 shares of the biopharmaceutical company’s stock valued at $6,476,000 after purchasing an additional 38,163 shares during the last quarter. 76.41% of the stock is owned by institutional investors and hedge funds.

Bristol-Myers Squibb Trading Down 0.2 %

Shares of BMY stock opened at $52.52 on Wednesday. The company has a quick ratio of 1.02, a current ratio of 1.16 and a debt-to-equity ratio of 2.86. The firm has a market cap of $106.46 billion, a P/E ratio of -16.94, a PEG ratio of 13.75 and a beta of 0.46. The company has a 50 day moving average of $50.89 and a 200-day moving average of $46.44. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $55.03.

Bristol-Myers Squibb Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 4th will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 4.57%. The ex-dividend date of this dividend is Friday, October 4th. Bristol-Myers Squibb’s dividend payout ratio is currently -77.42%.

Analyst Upgrades and Downgrades

BMY has been the subject of several analyst reports. TD Cowen increased their price objective on Bristol-Myers Squibb from $53.00 to $59.00 and gave the stock a “hold” rating in a research note on Monday, October 7th. UBS Group upped their price target on Bristol-Myers Squibb from $50.00 to $54.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft dropped their price objective on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a research note on Tuesday, July 23rd. Barclays upped their target price on shares of Bristol-Myers Squibb from $42.00 to $43.00 and gave the stock an “underweight” rating in a research note on Monday, October 7th. Finally, Jefferies Financial Group raised their price target on shares of Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a “hold” rating in a research report on Wednesday, August 28th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $53.57.

Bristol-Myers Squibb 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.