Oak Harvest Investment Services Takes $5.42 Million Position in Bristol-Myers Squibb (NYSE:BMY)

Oak Harvest Investment Services bought a new position in shares of Bristol-Myers Squibb (NYSE:BMY) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 104,779 shares of the biopharmaceutical company’s stock, valued at approximately $5,421,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Diversify Wealth Management LLC raised its position in Bristol-Myers Squibb by 9.6% in the third quarter. Diversify Wealth Management LLC now owns 12,837 shares of the biopharmaceutical company’s stock valued at $681,000 after purchasing an additional 1,122 shares during the last quarter. Pinnacle Associates Ltd. increased its stake in shares of Bristol-Myers Squibb by 36.3% in the third quarter. Pinnacle Associates Ltd. now owns 266,041 shares of the biopharmaceutical company’s stock valued at $13,651,000 after buying an additional 70,905 shares during the period. First Trust Direct Indexing L.P. lifted its stake in shares of Bristol-Myers Squibb by 54.8% in the third quarter. First Trust Direct Indexing L.P. now owns 33,428 shares of the biopharmaceutical company’s stock worth $1,730,000 after acquiring an additional 11,831 shares during the period. Gimbal Financial acquired a new stake in shares of Bristol-Myers Squibb during the third quarter worth $208,000. Finally, Pathway Financial Advisers LLC raised its position in shares of Bristol-Myers Squibb by 38,392.1% in the 3rd quarter. Pathway Financial Advisers LLC now owns 431,112 shares of the biopharmaceutical company’s stock worth $22,306,000 after acquiring an additional 429,992 shares in the last quarter. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. StockNews.com upgraded shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 29th. Citigroup cut Bristol-Myers Squibb from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $75.00 to $55.00 in a research report on Friday, October 25th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $48.00 price objective on shares of Bristol-Myers Squibb in a research report on Monday, September 23rd. Cantor Fitzgerald restated a “neutral” rating and issued a $50.00 target price on shares of Bristol-Myers Squibb in a research note on Friday, October 18th. Finally, Barclays increased their target price on shares of Bristol-Myers Squibb from $42.00 to $43.00 and gave the stock an “underweight” rating in a research report on Monday, October 7th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $52.38.

Bristol-Myers Squibb Trading Up 0.3 %

BMY opened at $52.68 on Thursday. The business has a 50 day moving average of $50.98 and a 200-day moving average of $46.48. The stock has a market cap of $106.79 billion, a PE ratio of -16.99, a PEG ratio of 13.75 and a beta of 0.46. The company has a quick ratio of 1.02, a current ratio of 1.16 and a debt-to-equity ratio of 2.86. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $55.03.

Bristol-Myers Squibb Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 4th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.40 annualized dividend and a dividend yield of 4.56%. Bristol-Myers Squibb’s payout ratio is currently -77.42%.

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.