Birmingham Capital Management Co. Inc. AL Increases Holdings in Bristol-Myers Squibb (NYSE:BMY)

Birmingham Capital Management Co. Inc. AL grew its holdings in Bristol-Myers Squibb (NYSE:BMY) by 3.2% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 45,141 shares of the biopharmaceutical company’s stock after buying an additional 1,416 shares during the quarter. Birmingham Capital Management Co. Inc. AL’s holdings in Bristol-Myers Squibb were worth $1,875,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in BMY. ESL Trust Services LLC purchased a new stake in Bristol-Myers Squibb in the first quarter worth $27,000. LGT Financial Advisors LLC boosted its stake in shares of Bristol-Myers Squibb by 42.7% during the 2nd 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 in the last quarter. Fairman Group LLC purchased a new position in shares of Bristol-Myers Squibb during the fourth quarter valued at about $42,000. Redmont Wealth Advisors LLC bought a new position in Bristol-Myers Squibb in the first quarter worth about $47,000. Finally, Accent Capital Management LLC purchased a new stake in Bristol-Myers Squibb in the fourth quarter worth about $46,000. 76.41% of the stock is currently owned by institutional investors.

Bristol-Myers Squibb Stock Up 2.3 %

BMY stock opened at $52.91 on Wednesday. The business’s 50-day moving average is $48.91 and its two-hundred day moving average is $46.28. The company has a market cap of $107.25 billion, a price-to-earnings ratio of -17.07, a P/E/G ratio of 12.96 and a beta of 0.46. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $58.06. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.02 and a current ratio of 1.16.

Bristol-Myers Squibb (NYSE:BMY) last posted its quarterly earnings data 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 negative net margin of 14.06% and a positive return on equity of 12.51%. The company had revenue of $12.20 billion for the quarter, compared to the consensus estimate of $11.54 billion. During the same quarter last year, the firm posted $1.75 earnings per share. The firm’s revenue was up 8.7% compared to the same quarter last year. As a group, analysts forecast that Bristol-Myers Squibb will post 0.77 earnings per share for the current year.

Bristol-Myers Squibb Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 4th will be given a dividend of $0.60 per share. The ex-dividend date is Friday, October 4th. This represents a $2.40 annualized dividend and a yield of 4.54%. Bristol-Myers Squibb’s dividend payout ratio (DPR) is presently -77.42%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Cantor Fitzgerald reissued a “neutral” rating and issued a $50.00 target price on shares of Bristol-Myers Squibb in a research report on Monday, September 16th. Jefferies Financial Group increased their price objective 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 dropped their target price on shares of Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating on the stock in a report on Tuesday, July 23rd. Barclays raised their target price on shares of Bristol-Myers Squibb from $41.00 to $42.00 and gave the company an “underweight” rating in a research note on Thursday, August 22nd. Finally, TD Cowen lifted their price objective on Bristol-Myers Squibb from $45.00 to $53.00 and gave the company a “hold” rating in a research note on Monday, August 12th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Bristol-Myers Squibb has an average rating of “Hold” and a consensus target price of $55.00.

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.