Patriot Financial Group Insurance Agency LLC Boosts Position in Bristol-Myers Squibb (NYSE:BMY)

Patriot Financial Group Insurance Agency LLC lifted its position in Bristol-Myers Squibb (NYSE:BMY) by 3.8% in the third quarter, HoldingsChannel reports. The firm owned 5,595 shares of the biopharmaceutical company’s stock after buying an additional 206 shares during the period. Patriot Financial Group Insurance Agency LLC’s holdings in Bristol-Myers Squibb were worth $289,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BMY. ESL Trust Services LLC purchased a new stake in shares of Bristol-Myers Squibb in the 1st quarter valued at approximately $27,000. ORG Wealth Partners LLC purchased a new stake in shares of Bristol-Myers Squibb in the 3rd quarter valued at approximately $34,000. LGT Financial Advisors LLC grew 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 buying an additional 227 shares during the period. MFA Wealth Advisors LLC purchased a new stake in shares of Bristol-Myers Squibb in the 2nd quarter valued at approximately $39,000. Finally, Beach Investment Counsel Inc. PA purchased a new stake in shares of Bristol-Myers Squibb in the 2nd quarter valued at approximately $42,000. 76.41% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BMY has been the subject of several analyst reports. TD Cowen increased their price target on shares of Bristol-Myers Squibb from $53.00 to $59.00 and gave the company a “hold” rating in a research note on Monday, October 7th. StockNews.com raised shares of Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 29th. BMO Capital Markets reaffirmed a “market perform” rating and set a $48.00 price objective on shares of Bristol-Myers Squibb in a research report on Monday, September 23rd. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $50.00 price objective on shares of Bristol-Myers Squibb in a research report on Friday, October 18th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on shares of 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. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $53.57.

Bristol-Myers Squibb Price Performance

Shares of BMY opened at $52.52 on Wednesday. Bristol-Myers Squibb has a twelve month low of $39.35 and a twelve month high of $55.03. The firm’s fifty day simple moving average is $50.89 and its 200-day simple moving average is $46.44. The firm has a market capitalization of $106.46 billion, a price-to-earnings ratio of -16.94, a PEG ratio of 13.75 and a beta of 0.46. The company has a current ratio of 1.16, a quick ratio of 1.02 and a debt-to-equity ratio of 2.86.

Bristol-Myers Squibb Dividend Announcement

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 $0.60 dividend. The ex-dividend date is Friday, October 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.57%. Bristol-Myers Squibb’s payout ratio is -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.