Founders Financial Alliance LLC Increases Stake in Bristol-Myers Squibb (NYSE:BMY)

Founders Financial Alliance LLC raised its holdings in Bristol-Myers Squibb (NYSE:BMY) by 18.1% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,390 shares of the biopharmaceutical company’s stock after buying an additional 1,287 shares during the period. Founders Financial Alliance LLC’s holdings in Bristol-Myers Squibb were worth $348,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. ESL Trust Services LLC acquired a new stake in shares of Bristol-Myers Squibb in the first quarter valued at $27,000. LGT Financial Advisors LLC increased its holdings in Bristol-Myers Squibb by 42.7% during the 2nd quarter. LGT Financial Advisors LLC now owns 759 shares of the biopharmaceutical company’s stock worth $32,000 after purchasing an additional 227 shares during the period. MFA Wealth Advisors LLC acquired a new stake in Bristol-Myers Squibb in the 2nd quarter valued at about $39,000. Fairman Group LLC acquired a new stake in Bristol-Myers Squibb in the 4th quarter valued at about $42,000. Finally, Beach Investment Counsel Inc. PA purchased a new position in shares of Bristol-Myers Squibb in the 2nd quarter valued at about $42,000. Institutional investors and hedge funds own 76.41% of the company’s stock.

Bristol-Myers Squibb Trading Up 2.3 %

BMY opened at $52.91 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. Bristol-Myers Squibb has a 52 week low of $39.35 and a 52 week high of $58.06. The business’s 50 day moving average is $48.91 and its two-hundred day moving average is $46.28. The firm has a market cap of $107.25 billion, a price-to-earnings ratio of -17.07, a price-to-earnings-growth ratio of 12.96 and a beta of 0.46.

Bristol-Myers Squibb (NYSE:BMY) last announced 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. The business had revenue of $12.20 billion for the quarter, compared to analysts’ expectations of $11.54 billion. Bristol-Myers Squibb had a negative net margin of 14.06% and a positive return on equity of 12.51%. The company’s quarterly revenue was up 8.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.75 EPS. On average, research analysts predict that Bristol-Myers Squibb will post 0.77 EPS for the current year.

Bristol-Myers Squibb Dividend Announcement

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 issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.54%. The ex-dividend date is Friday, October 4th. Bristol-Myers Squibb’s dividend payout ratio is currently -77.42%.

Analyst Ratings Changes

A number of research firms recently weighed in on BMY. Barclays upped their target price on shares of Bristol-Myers Squibb from $41.00 to $42.00 and gave the stock an “underweight” rating in a research note on Thursday, August 22nd. TD Cowen raised their price objective on shares of Bristol-Myers Squibb from $45.00 to $53.00 and gave the company a “hold” rating in a report on Monday, August 12th. Jefferies Financial Group lifted their price objective on shares of Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a “hold” rating in a research report on Wednesday, August 28th. BMO Capital Markets reissued a “market perform” rating and issued a $48.00 target price on shares of Bristol-Myers Squibb in a report on Monday, September 23rd. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $50.00 price target on shares of Bristol-Myers Squibb in a report on Monday, September 16th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $55.00.

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.