Boltwood Capital Management Takes $204,000 Position in Bristol-Myers Squibb (NYSE:BMY)

Boltwood Capital Management purchased a new position in shares of Bristol-Myers Squibb (NYSE:BMY) during the 3rd quarter, HoldingsChannel reports. The institutional investor purchased 3,945 shares of the biopharmaceutical company’s stock, valued at approximately $204,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. ESL Trust Services LLC purchased a new stake in Bristol-Myers Squibb in the 1st quarter worth approximately $27,000. LGT Financial Advisors LLC lifted its holdings in Bristol-Myers Squibb by 42.7% in the 2nd quarter. LGT Financial Advisors LLC now owns 759 shares of the biopharmaceutical company’s stock worth $32,000 after buying an additional 227 shares during the period. MFA Wealth Advisors LLC purchased a new stake in Bristol-Myers Squibb in the 2nd quarter worth approximately $39,000. Fairman Group LLC purchased a new stake in Bristol-Myers Squibb in the 4th quarter worth approximately $42,000. Finally, Beach Investment Counsel Inc. PA purchased a new position 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.

Bristol-Myers Squibb Stock Up 0.8 %

Shares of NYSE BMY opened at $54.18 on Friday. The company has a current ratio of 1.16, a quick ratio of 1.02 and a debt-to-equity ratio of 2.86. The stock has a market capitalization of $109.83 billion, a PE ratio of -17.48, a price-to-earnings-growth ratio of 12.96 and a beta of 0.46. The stock’s fifty day simple moving average is $49.27 and its two-hundred day simple moving average is $46.39. 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 posted its quarterly earnings data on Friday, July 26th. The biopharmaceutical company reported $2.07 earnings per share for the quarter, topping analysts’ consensus estimates of $1.64 by $0.43. The firm had revenue of $12.20 billion during the quarter, compared to analysts’ expectations of $11.54 billion. Bristol-Myers Squibb had a positive return on equity of 12.51% and a negative net margin of 14.06%. The business’s quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.75 EPS. As a group, analysts expect that Bristol-Myers Squibb will post 0.77 EPS for the current fiscal year.

Bristol-Myers Squibb Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 4th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.40 dividend on an annualized basis and a yield of 4.43%. Bristol-Myers Squibb’s dividend payout ratio is currently -77.42%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Jefferies Financial Group raised their target price on Bristol-Myers Squibb from $49.00 to $51.00 and gave the company a “hold” rating in a research note on Wednesday, August 28th. Barclays raised their target price on Bristol-Myers Squibb from $41.00 to $42.00 and gave the company an “underweight” rating in a research note on Thursday, August 22nd. 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. Deutsche Bank Aktiengesellschaft reduced 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. Finally, StockNews.com raised Bristol-Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 29th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus 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.