Institute for Wealth Management LLC. lifted its position in shares of Bristol-Myers Squibb Co (NYSE:BMY) by 3.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,143 shares of the biopharmaceutical company’s stock after buying an additional 702 shares during the period. Institute for Wealth Management LLC.’s holdings in Bristol-Myers Squibb were worth $868,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently made changes to their positions in BMY. Financial Gravity Wealth Inc. bought a new stake in shares of Bristol-Myers Squibb in the 1st quarter worth approximately $26,000. Private Ocean LLC bought a new stake in shares of Bristol-Myers Squibb in the 1st quarter worth approximately $28,000. Trust Department MB Financial Bank N A bought a new stake in shares of Bristol-Myers Squibb in the 1st quarter worth approximately $32,000. James Investment Research Inc. grew its position in shares of Bristol-Myers Squibb by 36.5% in the 1st quarter. James Investment Research Inc. now owns 819 shares of the biopharmaceutical company’s stock worth $39,000 after buying an additional 219 shares during the last quarter. Finally, Endurance Wealth Management Inc. grew its position in shares of Bristol-Myers Squibb by 119.6% in the 2nd quarter. Endurance Wealth Management Inc. now owns 918 shares of the biopharmaceutical company’s stock worth $42,000 after buying an additional 500 shares during the last quarter. 80.11% of the stock is currently owned by institutional investors.
Shares of NYSE BMY traded up $0.55 during mid-day trading on Monday, hitting $47.53. 219,859 shares of the stock traded hands, compared to its average volume of 14,942,915. The company has a debt-to-equity ratio of 1.51, a quick ratio of 3.75 and a current ratio of 3.88. Bristol-Myers Squibb Co has a 52 week low of $42.48 and a 52 week high of $63.69. The company has a market cap of $74.84 billion, a price-to-earnings ratio of 11.93, a PEG ratio of 2.26 and a beta of 0.73. The stock has a fifty day moving average price of $45.33 and a 200-day moving average price of $47.45.
The company also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Friday, July 5th were given a dividend of $0.41 per share. The ex-dividend date was Wednesday, July 3rd. This represents a $1.64 annualized dividend and a dividend yield of 3.45%. Bristol-Myers Squibb’s dividend payout ratio is presently 41.21%.
In other news, Director Robert J. Bertolini purchased 11,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The shares were bought at an average cost of $44.72 per share, for a total transaction of $491,920.00. Following the completion of the transaction, the director now directly owns 11,397 shares of the company’s stock, valued at approximately $509,673.84. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.13% of the company’s stock.
A number of equities research analysts have recently weighed in on BMY shares. Goldman Sachs Group started coverage on Bristol-Myers Squibb in a research report on Tuesday, May 28th. They issued a “buy” rating and a $54.00 price objective on the stock. Zacks Investment Research upgraded Bristol-Myers Squibb from a “hold” rating to a “buy” rating and set a $54.00 price objective on the stock in a research report on Tuesday, May 7th. Atlantic Securities upgraded Bristol-Myers Squibb from a “neutral” rating to an “overweight” rating and set a $63.00 price objective on the stock in a research report on Wednesday, August 14th. JPMorgan Chase & Co. started coverage on Bristol-Myers Squibb in a research report on Friday, May 3rd. They issued an “overweight” rating and a $62.00 price objective on the stock. Finally, ValuEngine lowered Bristol-Myers Squibb from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 2nd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the stock. Bristol-Myers Squibb presently has an average rating of “Hold” and an average price target of $55.88.
About Bristol-Myers Squibb
Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. The company offers drugs in oncology, immunoscience, cardiovascular, and fibrotic diseases. The company's products include Opdivo, a biological product for anti-cancer indications; Eliquis, an oral inhibitor targeted at stroke prevention in adult patients with non-valvular atrial fibrillation, and the prevention and treatment of venous thromboembolic disorders; and Orencia, a biological product for adult patients with moderately to severely active RA and prostate-specific antigen, as well as reducing signs and symptoms in certain pediatric patients with moderately to severely active polyarticular juvenile idiopathic arthritis.
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