Atlanta Consulting Group Advisors LLC Makes New Investment in Bristol-Myers Squibb (NYSE:BMY)

Atlanta Consulting Group Advisors LLC acquired a new position in shares of Bristol-Myers Squibb (NYSE:BMY) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm acquired 23,252 shares of the biopharmaceutical company’s stock, valued at approximately $1,203,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in BMY. Capital International Investors boosted its stake in shares of Bristol-Myers Squibb by 14.1% during the first 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 in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Bristol-Myers Squibb by 77.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,547,823 shares of the biopharmaceutical company’s stock worth $680,469,000 after acquiring an additional 5,461,767 shares in the last quarter. Federated Hermes Inc. lifted its stake in shares of Bristol-Myers Squibb by 86.3% during the 2nd quarter. Federated Hermes Inc. now owns 7,546,311 shares of the biopharmaceutical company’s stock worth $313,398,000 after purchasing an additional 3,495,704 shares during the last quarter. Swedbank AB bought a new stake in Bristol-Myers Squibb during the first quarter valued at about $158,223,000. Finally, State of Michigan Retirement System raised its holdings in Bristol-Myers Squibb by 147.7% in the second quarter. State of Michigan Retirement System now owns 4,767,133 shares of the biopharmaceutical company’s stock worth $197,979,000 after purchasing an additional 2,842,400 shares in the last quarter. 76.41% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

BMY has been the topic of a number of analyst reports. Morgan Stanley lifted their price objective on shares of Bristol-Myers Squibb from $36.00 to $39.00 and gave the stock an “underweight” rating in a research report on Tuesday, November 12th. StockNews.com raised shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Monday, July 29th. Leerink Partners upgraded Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $55.00 to $73.00 in a report on Tuesday, November 12th. Jefferies Financial Group boosted their target price on 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, Cantor Fitzgerald reiterated a “neutral” rating and issued a $50.00 price target on shares of Bristol-Myers Squibb in a research note on Friday, October 18th. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating, two have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $54.07.

Insider Transactions at Bristol-Myers Squibb

In related news, EVP Samit Hirawat purchased 1,830 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The shares were purchased at an average price of $54.67 per share, with a total value of $100,046.10. Following the purchase, the executive vice president now owns 62,109 shares of the company’s stock, valued at $3,395,499.03. The trade was a 3.04 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Phil M. Holzer sold 700 shares of the company’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $55.62, for a total transaction of $38,934.00. Following the transaction, the senior vice president now owns 11,760 shares of the company’s stock, valued at $654,091.20. This represents a 5.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.09% of the company’s stock.

Bristol-Myers Squibb Trading Down 3.9 %

NYSE BMY opened at $56.22 on Friday. The stock has a 50-day simple moving average of $52.73 and a two-hundred day simple moving average of $47.25. The company has a current ratio of 1.24, a quick ratio of 1.09 and a debt-to-equity ratio of 2.83. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $61.08.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.49 by $0.31. The company had revenue of $11.89 billion during the quarter, compared to the consensus estimate of $11.26 billion. Bristol-Myers Squibb had a positive return on equity of 11.94% and a negative net margin of 15.30%. Bristol-Myers Squibb’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same period in the previous year, the company posted $2.00 earnings per share. As a group, equities research analysts forecast that Bristol-Myers Squibb will post 0.93 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 4th were given a $0.60 dividend. The ex-dividend date was Friday, October 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.27%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is currently -66.85%.

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.