First Trust Advisors LP Increases Stock Position in Bristol-Myers Squibb Co (NYSE:BMY)

First Trust Advisors LP boosted its stake in Bristol-Myers Squibb Co (NYSE:BMY) by 20.4% during the third quarter, HoldingsChannel reports. The firm owned 1,978,449 shares of the biopharmaceutical company’s stock after buying an additional 335,667 shares during the period. First Trust Advisors LP’s holdings in Bristol-Myers Squibb were worth $100,327,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in BMY. Bath Savings Trust Co raised its position in shares of Bristol-Myers Squibb by 3.4% during the second quarter. Bath Savings Trust Co now owns 17,108 shares of the biopharmaceutical company’s stock valued at $776,000 after buying an additional 568 shares during the last quarter. Boltwood Capital Management increased its stake in Bristol-Myers Squibb by 1.9% in the second quarter. Boltwood Capital Management now owns 21,626 shares of the biopharmaceutical company’s stock valued at $981,000 after acquiring an additional 400 shares during the period. Thomasville National Bank increased its stake in Bristol-Myers Squibb by 1.6% in the second quarter. Thomasville National Bank now owns 18,605 shares of the biopharmaceutical company’s stock valued at $843,000 after acquiring an additional 293 shares during the period. Private Asset Management Inc. increased its stake in Bristol-Myers Squibb by 5.5% in the second quarter. Private Asset Management Inc. now owns 129,289 shares of the biopharmaceutical company’s stock valued at $5,863,000 after acquiring an additional 6,775 shares during the period. Finally, ELM Advisors LLC increased its stake in Bristol-Myers Squibb by 5.7% in the second quarter. ELM Advisors LLC now owns 7,358 shares of the biopharmaceutical company’s stock valued at $334,000 after acquiring an additional 400 shares during the period. 80.40% of the stock is currently owned by institutional investors and hedge funds.

Shares of Bristol-Myers Squibb stock opened at $58.02 on Friday. The company has a current ratio of 3.83, a quick ratio of 3.72 and a debt-to-equity ratio of 1.37. The stock has a market capitalization of $91.88 billion, a price-to-earnings ratio of 14.58, a P/E/G ratio of 1.31 and a beta of 0.71. Bristol-Myers Squibb Co has a 1-year low of $42.48 and a 1-year high of $58.46. The firm’s 50-day moving average price is $52.90 and its two-hundred day moving average price is $48.19.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported $1.17 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.06 by $0.11. The firm had revenue of $6.01 billion for the quarter, compared to analysts’ expectations of $5.89 billion. Bristol-Myers Squibb had a net margin of 23.53% and a return on equity of 45.49%. The company’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.09 earnings per share. As a group, equities research analysts predict that Bristol-Myers Squibb Co will post 4.33 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 4th were paid a dividend of $0.41 per share. The ex-dividend date of this dividend was Thursday, October 3rd. This represents a $1.64 annualized dividend and a yield of 2.83%. Bristol-Myers Squibb’s dividend payout ratio is 41.21%.

A number of analysts recently weighed in on the stock. TheStreet raised shares of Bristol-Myers Squibb from a “c+” rating to a “b-” rating in a research note on Wednesday, September 18th. JPMorgan Chase & Co. set a $62.00 target price on shares of Bristol-Myers Squibb and gave the company a “buy” rating in a research note on Friday, September 13th. Atlantic Securities raised shares of Bristol-Myers Squibb from a “neutral” rating to an “overweight” rating and set a $63.00 target price on the stock in a research note on Wednesday, August 14th. UBS Group upped their target price on shares of Bristol-Myers Squibb from $51.00 to $53.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Finally, ValuEngine cut shares of Bristol-Myers Squibb from a “sell” rating to a “strong sell” rating in a research note on Friday, October 25th. One research analyst has rated the stock with a sell rating, five have given a hold rating and eleven have given a buy rating to the stock. Bristol-Myers Squibb presently has a consensus rating of “Buy” and an average price target of $56.64.

In other Bristol-Myers Squibb news, insider Louis S. Schmukler sold 25,000 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $56.56, for a total transaction of $1,414,000.00. Following the sale, the insider now directly owns 31,963 shares of the company’s stock, valued at $1,807,827.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP John E. Elicker sold 15,000 shares of the company’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $56.66, for a total transaction of $849,900.00. Following the sale, the senior vice president now directly owns 74,471 shares in the company, valued at $4,219,526.86. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by corporate insiders.

Bristol-Myers Squibb Profile

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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Institutional Ownership by Quarter for Bristol-Myers Squibb (NYSE:BMY)

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