Bristol-Myers Squibb (NYSE:BMY) Shares Bought by Wealth Advisors of Tampa Bay LLC

Wealth Advisors of Tampa Bay LLC lifted its stake in shares of Bristol-Myers Squibb (NYSE:BMY) by 6.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 71,762 shares of the biopharmaceutical company’s stock after purchasing an additional 4,280 shares during the period. Bristol-Myers Squibb accounts for about 1.4% of Wealth Advisors of Tampa Bay LLC’s portfolio, making the stock its 29th largest holding. Wealth Advisors of Tampa Bay LLC’s holdings in Bristol-Myers Squibb were worth $2,980,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in BMY. ESL Trust Services LLC purchased a new stake in Bristol-Myers Squibb in the 1st quarter valued at $27,000. LGT Financial Advisors LLC grew its holdings in shares of Bristol-Myers Squibb by 42.7% in the second 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 during the period. MFA Wealth Advisors LLC purchased a new stake in shares of Bristol-Myers Squibb in the second quarter valued at about $39,000. Fairman Group LLC purchased a new position in Bristol-Myers Squibb during the fourth quarter worth about $42,000. Finally, Beach Investment Counsel Inc. PA acquired a new position in Bristol-Myers Squibb in the 2nd quarter valued at about $42,000. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BMY has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft lowered their price objective on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating for the company in a research report on Tuesday, July 23rd. Cantor Fitzgerald reissued a “neutral” rating and set a $50.00 price objective on shares of Bristol-Myers Squibb in a research report on Monday. TD Cowen upped their target price on shares of Bristol-Myers Squibb from $45.00 to $53.00 and gave the company a “hold” rating in a research report on Monday, August 12th. Barclays lifted their price target on shares of Bristol-Myers Squibb from $41.00 to $42.00 and gave the company an “underweight” rating in a research report on Thursday, August 22nd. Finally, StockNews.com upgraded shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a report on Monday, July 29th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $55.00.

Bristol-Myers Squibb Stock Performance

Shares of BMY opened at $49.02 on Friday. The company has a market capitalization of $99.36 billion, a price-to-earnings ratio of -15.81, a price-to-earnings-growth ratio of 12.59 and a beta of 0.46. Bristol-Myers Squibb has a 52-week low of $39.35 and a 52-week high of $59.46. 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 stock has a 50 day moving average price of $47.50 and a 200 day moving average price of $46.50.

Bristol-Myers Squibb (NYSE:BMY) last posted its earnings results on Friday, July 26th. The biopharmaceutical company reported $2.07 EPS for the quarter, beating 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 firm had revenue of $12.20 billion for the quarter, compared to the consensus estimate of $11.54 billion. During the same period last year, the firm posted $1.75 EPS. The company’s revenue was up 8.7% on a year-over-year basis. Research analysts predict that Bristol-Myers Squibb will post 0.77 EPS for the current fiscal year.

Bristol-Myers Squibb Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 4th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 4.90%. The ex-dividend date is Friday, October 4th. Bristol-Myers Squibb’s payout ratio is currently -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.