Bristol-Myers Squibb (NYSE:BMY) Shares Bought by Sunbelt Securities Inc.

Sunbelt Securities Inc. boosted its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 87.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 18,943 shares of the biopharmaceutical company’s stock after acquiring an additional 8,863 shares during the quarter. Sunbelt Securities Inc.’s holdings in Bristol-Myers Squibb were worth $787,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in BMY. Global Assets Advisory LLC purchased a new position in shares of Bristol-Myers Squibb during the 1st quarter worth approximately $5,161,000. Lincoln National Corp increased its stake in Bristol-Myers Squibb by 7.7% in 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. Chapin Davis Inc. increased its stake in Bristol-Myers Squibb by 22.6% in the 1st quarter. Chapin Davis Inc. now owns 22,544 shares of the biopharmaceutical company’s stock valued at $1,223,000 after purchasing an additional 4,159 shares in the last quarter. Sierra Summit Advisors LLC purchased a new position in Bristol-Myers Squibb in the 4th quarter valued at approximately $755,000. Finally, Accel Wealth Management increased its position in 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 buying an additional 788 shares in the last quarter. 76.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on BMY shares. Jefferies Financial Group raised their price target on Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a “hold” rating in a research report on Wednesday, August 28th. StockNews.com upgraded Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Monday, July 29th. Deutsche Bank Aktiengesellschaft decreased 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. Cantor Fitzgerald restated a “neutral” rating and set a $50.00 price objective on shares of Bristol-Myers Squibb in a report on Monday, September 16th. Finally, BMO Capital Markets restated a “market perform” rating and set a $48.00 price objective on shares of Bristol-Myers Squibb in a report on Monday, September 23rd. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $55.00.

Bristol-Myers Squibb Trading Up 1.6 %

Shares of BMY opened at $51.74 on Tuesday. Bristol-Myers Squibb has a 12 month low of $39.35 and a 12 month high of $58.06. The stock has a market cap of $104.88 billion, a PE ratio of -16.69, a P/E/G ratio of 12.96 and a beta of 0.46. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.16 and a quick ratio of 1.02. The stock’s 50-day moving average is $48.71 and its two-hundred day moving average is $46.28.

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, topping analysts’ consensus estimates of $1.64 by $0.43. Bristol-Myers Squibb had a positive return on equity of 12.51% and a negative net margin of 14.06%. The business had revenue of $12.20 billion for the quarter, compared to analyst estimates of $11.54 billion. During the same period in the previous year, the company earned $1.75 earnings per share. The company’s revenue for the quarter was up 8.7% compared to the same quarter last year. Equities analysts forecast that Bristol-Myers Squibb will post 0.77 earnings per share for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 4th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.64%. The ex-dividend date of this dividend is Friday, October 4th. Bristol-Myers Squibb’s payout ratio is -77.42%.

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.