Talbot Financial LLC Has $4.87 Million Position in Bristol-Myers Squibb (NYSE:BMY)

Talbot Financial LLC raised its stake in Bristol-Myers Squibb (NYSE:BMY) by 6.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 94,183 shares of the biopharmaceutical company’s stock after acquiring an additional 5,950 shares during the period. Talbot Financial LLC’s holdings in Bristol-Myers Squibb were worth $4,873,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of BMY. ESL Trust Services LLC bought a new stake in Bristol-Myers Squibb during the first quarter worth about $27,000. LGT Financial Advisors LLC lifted its stake in shares of Bristol-Myers Squibb by 42.7% in the 2nd quarter. LGT Financial Advisors LLC now owns 759 shares of the biopharmaceutical company’s stock valued at $32,000 after acquiring an additional 227 shares during the last quarter. MFA Wealth Advisors LLC acquired a new stake in shares of Bristol-Myers Squibb during the 2nd quarter valued at $39,000. Fairman Group LLC bought a new stake in Bristol-Myers Squibb during the 4th quarter worth $42,000. Finally, Beach Investment Counsel Inc. PA acquired a new position in Bristol-Myers Squibb in the 2nd quarter worth about $42,000. 76.41% of the stock is currently owned by institutional investors.

Bristol-Myers Squibb Stock Down 1.8 %

Bristol-Myers Squibb stock opened at $52.48 on Wednesday. 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 company has a market capitalization of $106.38 billion, a PE ratio of -16.93, a PEG ratio of 12.96 and a beta of 0.46. The firm’s fifty day moving average is $49.43 and its 200 day moving average is $46.34. Bristol-Myers Squibb has a 12-month low of $39.35 and a 12-month high of $57.65.

Bristol-Myers Squibb (NYSE:BMY) last released 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 analysts’ expectations of $11.54 billion. During the same quarter in the prior year, the firm earned $1.75 EPS. The business’s revenue was up 8.7% on a year-over-year basis. As a group, sell-side analysts predict that Bristol-Myers Squibb will post 0.77 EPS for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 4th will be issued a dividend of $0.60 per share. The ex-dividend date is Friday, October 4th. This represents a $2.40 annualized dividend and a dividend yield of 4.57%. Bristol-Myers Squibb’s dividend payout ratio is -77.42%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. TD Cowen lifted their target price on shares of Bristol-Myers Squibb from $53.00 to $59.00 and gave the stock a “hold” rating in a research report on Monday. StockNews.com raised shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 29th. Jefferies Financial Group increased their price objective on Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. BMO Capital Markets reiterated a “market perform” rating and issued a $48.00 price target on shares of Bristol-Myers Squibb in a research report on Monday, September 23rd. Finally, 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. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Bristol-Myers Squibb currently has a consensus rating of “Hold” and a consensus price target of $53.43.

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.